Saudi defence fund expands maritime technology push
Saudi Arabia’s first defence-focused venture fund is accelerating efforts to develop defence technology locally. MASNA Ventures plans to invest more in US and allied defence systems. The move comes as regional conflicts expose gaps in Gulf military capabilities. MASNA has asked Saudi Arabia’s Capital Markets Authority to raise its capacity. The fund wants to increase […]
Saudi Arabia's MASNA Ventures, the kingdom's first defence-focused venture fund, is expanding its efforts to develop local defence technology. According to the Daily Times, MASNA plans to invest more in US and allied defence systems. This move comes as regional conflicts reveal gaps in Gulf military capabilities.
The fund has requested permission from Saudi Arabia's Capital Markets Authority to increase its investment capacity. Details of the planned increase are not specified.
The Middle East Eye reports that the development comes amid intensifying fighting between Saudi Arabia and Yemen's Houthis, with the US pledging to uphold its defence commitments to Saudi Arabia. US Secretary of State Marco Rubio stated that Washington will stand by its security agreements with the kingdom.
Brief written by urgent.news from Daily Times, Middle East Eye — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
