Sukna Ventures
Sukna Ventures is a Riyadh-based early-stage venture capital fund that invests pre-seed through Series B in digital transformation startups across the MENA region, with offices in Riyadh, Jeddah, and Abu Dhabi.
- Company typePrivate
- Founded2022
- HeadquartersRiyadh, Saudi Arabia
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Sukna Ventures does
Sukna Ventures is a Riyadh-headquartered early-stage venture capital fund operating across the MENA region with a stated focus on Saudi Arabia, the UAE, Jordan, Egypt, and Bahrain. Founded in 2022 as the VC arm of Sukna Capital, the firm invests at pre-seed through Series B stages in digital transformation businesses spanning fintech, EdTech, gaming, biotech, cybersecurity, aerospace, semiconductors, and consumer. The fund maintains three physical offices—Riyadh (HQ), Jeddah, and Abu Dhabi (Al Maryah Island)—and positions itself as "Saudi rooted, regionally focused, globally present," leaning on a network of senior investor partners and advisors for deal sourcing. Its disclosed portfolio comprises roughly 40 companies, including Classera (EdTech, KSA), OCTA, MoneyHash, Dawul (fintech), Proteinea (biotech), CQR (OT cybersecurity), Buntar Aerospace, and the most recently disclosed co-led round in InfiniLink ($10M, March 2025) alongside MediaTek targeting AI data-center optical connectivity.
The firm's business model follows the standard VC construct: it raises capital from limited partners, deploys equity into portfolio companies at multiple stages, and earns revenue through management fees on assets under management and, ultimately, carried interest on exits. Pricing, AUM, and management fee economics are not publicly disclosed; the firm markets primarily through LinkedIn, Twitter, Instagram, and a dedicated EU Dealflow submission portal for inbound proposals. Its stated value proposition emphasizes capital plus "value creation support at all stages" and access to a "global network of exceptional leaders and decision-makers" rather than any operational or technical differentiation versus peer MENA early-stage funds.
The senior investment team is led by Managing Partner Waleed Alballaa and Founding/Managing Partner Fares Bardeesi, with General Partner Mazin Alshanbari, co-founder/partner Hattan Tashkandi, Principal Omar Hamdalla, and venture and senior advisors including Marvin Liao and Asher Siddiqui forming the broader decision-making bench. Total headcount is reported at 11–50 with 12+ named professionals. To date, the firm shows no publicly disclosed acquisitions, divestitures, restructuring events, regulatory actions, or patent filings; its primary externally visible actions are portfolio investments and co-investments with strategic corporates such as MediaTek.
Sukna Ventures firmographics
Firmographics- Name
- Sukna Ventures
- Legal name
- Sukna Ventures
- Website
- https://suknaventures.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Sukna Ventures is a Riyadh-based early-stage venture capital fund that invests pre-seed through Series B in digital transformation startups across the MENA region, with offices in Riyadh, Jeddah, and Abu Dhabi.
- Ownership category
- akta.pro rank
Sukna Ventures industry classification
Industry- Product category
- Venture Capital
- NAICS
- Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Venture Capital Fundraising Placement (FSAEALAC)
Keywords
Where Sukna Ventures is headquartered
LocationHeadquarters
- HQ city
- Riyadh
- HQ country
- Saudi Arabia
- HQ region
- Middle East
Offices3 records
Markets served
Sukna Ventures business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Others
Revenue model
- Investment Returns: Sukna Ventures generates returns through equity investments in early-stage tech startups, realizing gains through portfolio company exits via acquisitions or IPOs.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Sukna Ventures product offering
Product offeringCore offering
Sukna Ventures is a Riyadh-based early-stage venture capital fund that invests equity capital (pre-seed through Series B) into digital transformation startups across the MENA region, spanning fintech, EdTech, cybersecurity, gaming, biotech, AI, and semiconductors. In addition to capital, the fund provides value-creation support and access to a global network of operators and decision-makers to portfolio companies. The firm operates multiple fund vehicles including SV Fund I, MENA Fund I, and Global Fund I.
Product overview
Sukna Ventures is a Riyadh-based early-stage VC fund focused on digital transformation businesses in the MENA region. The firm does not offer its own standalone product, platform, or software service. Instead, it operates as an investment vehicle that builds, partners with, and invests in portfolio ventures across diverse sectors including fintech, EdTech, cybersecurity, gaming, biotech, and AI. The company's value proposition is investment and value creation support for entrepreneurs, not a product or service offering of its own.
Differentiator
Problem solved
Functional benefit
Products and services
- SV Fund I Early-stage venture capital fund that deploys equity capital from pre-seed through Series B into digital transformation startups, with a Venture Partner dedicated to this vehicle. Targeted at limited-partner investors seeking MENA exposure.
- MENA Fund I
Companies that use Sukna Ventures
Customer profileSegments1 record
Ideal customer profiles2 records
Sukna Ventures technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Sukna Ventures partnerships and signals
Strategic signalScale indicators2 records
Recent moves5 records
Expansion highlights4 records
Sukna Ventures competitors and assessment
Company assessmentDirect peers
- 500 Global: Early-stage tech VC with active MENA programs and seed-stage investment focus, directly comparable to Sukna's pre-seed/seed emphasis across digital transformation sectors.
- Beco Capital: UAE-based early-stage technology VC investing across MENA at pre-seed through Series A, closely matching Sukna's stage and geography.
- Vision Ventures: Riyadh-headquartered early-stage MENA tech VC investing across sectors including fintech, gaming, and AI—same Saudi-rooted positioning and stage as Sukna.
- Raed Ventures: Saudi-focused seed and early-stage fund backing MENA tech founders, with explicit pre-seed through Series A strategy and a similar digital-transformation thesis.
- Shorooq Partners: UAE-based early-stage lead investor in MENA tech startups from pre-seed through Series A, directly comparable in stage, geography, and sector breadth.
- Nuwa Capital: MENA-focused early-stage VC funding purpose-driven founders across fintech, health, and digital economy — closely aligned with Sukna's stage and thesis.
- STV (Saudi Technology Ventures): Large Saudi-based tech VC investing from seed through growth across MENA — same Saudi-rooted positioning with broader check sizes.
- Wa'ed Ventures: Saudi Aramco-backed early-stage VC funding MENA tech founders, sharing Sukna's Saudi base and seed-to-Series-B stage focus.
- B&Y Venture Partners: UAE-based early-stage VC investing in MENA tech, with multi-sector exposure similar to Sukna's fintech/gaming/edtech breadth.
Regional players
- Algebra Ventures: Egypt-focused early-stage tech VC operating within the same MENA region, with overlapping exposure to Egyptian-founded startups that Sukna also backs.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Sukna Ventures social profiles
Digital presenceSukna Ventures financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sukna Ventures leadership team
Management profileNumber of profiles
Profiles9 records
Sukna Ventures funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sukna Ventures M&A and investment
M&A and investmentM&A
Investments49 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Sukna Ventures
What does Sukna Ventures do?
Sukna Ventures is a Riyadh-based early-stage venture capital fund that invests equity capital (pre-seed through Series B) into digital transformation startups across the MENA region, spanning fintech, EdTech, cybersecurity, gaming, biotech, AI, and semiconductors. In addition to capital, the fund provides value-creation support and access to a global network of operators and decision-makers to portfolio companies. The firm operates multiple fund vehicles including SV Fund I, MENA Fund I, and Global Fund I.
Is Sukna Ventures a public or private company?
Sukna Ventures is a private company. It is classified as corporate owned and is currently operating.
When was Sukna Ventures founded?
Sukna Ventures was founded in 2022. It employs 11 to 50 people.
Where is Sukna Ventures based?
Sukna Ventures is headquartered in Riyadh, Saudi Arabia, in the Middle East region.
How does Sukna Ventures make money?
One revenue line is on record: investment Returns.
Who are Sukna Ventures's main competitors?
Direct peers on record are 500 Global, Beco Capital, Vision Ventures, Raed Ventures, Shorooq Partners, Nuwa Capital, STV (Saudi Technology Ventures), Wa'ed Ventures and B&Y Venture Partners. Algebra Ventures is listed as a regional player.
Does Sukna Ventures have an API?
No public API is recorded for Sukna Ventures.
What industry is Sukna Ventures in?
Sukna Ventures's product category is Venture Capital. Its primary akta.pro industry code is FSAEALAC, Venture Capital Fundraising Placement. Its NAICS code is 523940 and its SIC code is 6282.