Saudi Arabia launches SAR300 million fashion investment fund

📷SPA

Riyadh, September 30 (Saudi Arabia Breaking News) – The Cultural Development Fund on Monday signed an agreement to establish Saudi Arabia’s first investment fund dedicated to the fashion sector, with a capital of SAR300 million.

The fund will be managed by Merak Capital, with the Cultural Development Fund serving as a principal investor. The agreement was signed during the Cultural Investment Conference at the King Fahd Cultural Center in Riyadh, held under the patronage of His Royal Highness Crown Prince Mohammed bin Salman bin Abdulaziz Al Saud.

The Ministry of Culture said the fund will invest in companies and projects in the fashion sector, including innovative ventures and Saudi brands with growth potential. It also aims to strengthen related supply chains and services, following international standards in asset and risk management.

The agreement was signed in the presence of Minister of Culture and Cultural Development Fund Board Chairman Prince Bader bin Abdullah bin Farhan.