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Saudi defence fund speeds up maritime sector push following Houthi advance
BEIRUT: Saudi Arabia’s first defence-focused venture capital fund, MASNA Ventures, is seeking to plough more money into local manufacturing of US and allied defence technology as conflict in the Gulf exposes the region’s military gaps. The fund, anchored by a prominent Saudi family office and sharia-compliant, has asked the Capital Markets Authority to raise its capacity to $150 million from $100 million, General Partner Lucien Zeigler told Reuters. Committed capital so far includes only Saudi nationals, and the firm is weighing whether to bring in international capital, Zeigler said, declinin...
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