Saudi Arabia has announced the establishment of two dedicated investment funds totalling SR675m ($180m) to support the growth of the Kingdom’s cultural economy.
The launch took place during the Cultural Investment Conference in Riyadh, organised by the Ministry of Culture under the patronage of Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.
Both signings were attended by Minister of Culture and Chairman of the Cultural Development Fund (CDF) Prince Bader bin Abdullah bin Farhan.
Saudi Arabia launches culture funds
The first initiative is the Kingdom’s inaugural investment fund dedicated to the fashion sector, with a capital of SR300m ($80m).
Managed by Merak Capital with CDF as a principal investor, the fund will target investments in Saudi and international fashion companies, innovative ventures, and brands with strong growth potential.
It will also support supply chain and service development in line with global best practices in asset and risk management.
The second is a SR375m ($100m) private investment fund dedicated to the film sector. Managed by BSF Capital with the CDF as the primary investor and in partnership with a leading global film production company, the fund will focus on high-quality and innovative projects in film production, distribution, and infrastructure development.
It will expand the industry’s reach locally and internationally, supporting sustainable growth while aligning with the objectives of Saudi Vision 2030.
By establishing these sector-specific funds, the Cultural Development Fund aims to provide tailored financial solutions that encourage private sector participation, drive innovation, and accelerate the Kingdom’s ambition to become a global hub for cultural and creative industries.
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