Saudi defence fund speeds up maritime sector push following Houthi advance

Committed capital so far includes only Saudi nationals, and the firm is weighing whether to bring in international capital, Zeigler said, declining to comment further on amounts or investors, citing regulations. "This is a bet on Saudi sovereignty, and we want Saudis who believe in the sector sharing in the wins," he said.

The firm is speeding up collaboration with so-called Prime Original Equipment Manufacturers and startup unicorns "whose connected, autonomous platforms were designed for exactly what is happening in the Gulf andthe Red Sea," Zeigler said. He declined to name the companies, citing non-disclosure agreements.

The Prime manufacturers term refers to major defence firms such as Lockheed Martin and Boeing. 'Maritime is a priority'MASNA's focus is on autonomous systems including unmanned aerial, surface and underwater vehicles. "Maritime is absolutely a priority...we are actively accelerating that domain right now," Zeigler said.

Venture capital firms have invested $19.4 billion in defence tech globally this year, double last year's total,. Saudi Arabia has recorded VC deals worth about $200 million in 2026, the data platform said. Zeigler has spent most of the last 15 years working in the Kingdom with Saudi and US business, and in venture capital, defence, and investments.

He previously headed Middle East and North Africa operations at Silicon Valley's Pilatus Venture Capital. Read:How Yemen's Houthis went from a small mountain militia to a big regional threatMASNA has partnered with SR2 Defence Systems, a local manufacturer that Zeigler co-founded, to develop advanced defence technology on Saudi soil.

The fund is targeting three operational joint ventures and six capital investments in 2026. It has already backed a joint venture between SR2 and US drone maker Vector Defence that is "ramping up now," with MASNA leading a funding round that is three times oversubscribed, Zeigler said.

The firm also plans to back another joint venture producing anti-drone systems built around "world-leading US hard-kill technology. "Drones have played a central role in the. Houthi campaign in Yemenand the broader Gulf conflict involving Iran, the US and their allies.

Saudi Arabia was hit by strikes from groups in recent weeks that threatened its oil exports, while a new Houthi presence near the. Bab el-Mandeb straitrisks further disrupting Red Sea shipping routes. "Right now, it is drones and aerial defence above all else," Zeigler said.

"The events of this past week emphasise those needs. "