SAUDI ARABIA: VC firm Sukna Capital has received approval from the Saudi Capital Market Authority (CMA) to launch the Sukna Fund for Direct Financing – an open-ended, Shariah compliant direct lending fund in the MENA region. This Saudi-based alternative asset investment platform offers institutional investors access to a vehicle that provides non-dilutive, scalable financing for SMEs. Unlike traditional private credit vehicles, the open-ended fund structure enables investors to enter and exit at regular intervals – offering periodic liquidity with no long lock-up periods.
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