MASNA Ventures is a newly launched venture capital firm focused on defense technology, created by American entrepreneur Lucien Zeigler. The firm is positioning itself at the intersection of US allied defense innovation and Saudi Arabia’s push to localize military manufacturing. MASNA aims to become the first defense-focused VC fund anchored in Saudi Arabia with a cross-border mandate.
MASNA Ventures is aiming to raise at least $100 million for its debut fund. The vehicle will back approximately 10 companies, taking a concentrated approach to portfolio construction. The fund’s structure is designed not only to provide capital but also to facilitate cross-border expansion, particularly the buildout of manufacturing capacity in Saudi Arabia.
The raise comes amid strengthening US-Saudi defense ties and a broader geopolitical push to secure trusted supply chains among allied nations. Saudi Arabia is the world’s fifth-largest military spender, allocating around $64 billion to defense this year. Historically, roughly three-quarters of that spending has gone abroad. The kingdom has set a goal to localize 50 percent of defense spending by 2030. MASNA’s fund directly aligns with that objective by backing foreign defense innovators and scaling their production footprint within Saudi Arabia.
The fund is launching as Riyadh prepares to host the World Defense Show, underscoring the timing and strategic positioning of the vehicle. For founders, MASNA offers not just capital but a pathway into one of the world’s largest defense procurement markets.
Leadership
MASNA Ventures was co-founded by Lucien Zeigler, previously head of Middle East and North Africa at Pilatus Capital, a California-based venture firm. Zeigler brings regional investment experience and cross-border network access, particularly across US and Gulf markets.
Investment Strategy
MASNA plans to take an active role in bridging technology development and manufacturing scale. The firm will focus on high-impact defense categories including autonomous systems and AI-enabled battlefield technologies. Its strategy centers on translating technological advantages from US and allied startups into localized production capacity in Saudi Arabia. The portfolio will likely be tightly managed, with deep involvement in regulatory navigation, government partnerships and industrial buildout.
Notable Investments
As a first-time fund currently in fundraising mode, MASNA Ventures has not yet disclosed completed investments. The firm intends to deploy capital into roughly 10 companies across drones, counter-drone systems, precision-guided munitions and AI-enabled defense platforms.
Notable Exits
Not applicable at this stage. MASNA is a newly formed fund and has not recorded exits.
Other
Saudi Arabia’s localization push is creating structural demand for defense manufacturing partnerships. Founders considering MASNA should understand that the value proposition extends beyond capital.
The fund’s thesis is closely aligned with national industrial policy goals, which may include government relationships, procurement channels and long-term strategic partnerships. Companies must be comfortable operating within defense regulatory frameworks and cross-border compliance requirements.
Saudi Arabia
