Riyadh - Sharikat Mubasher: Derayah Financial, a leading Saudi independent digital investment platform, entered into a binding commitment to invest up to SAR 244 million (approximately $65 million) in HOF Capital Strategic Opportunities Fund II, designed to capitalize on AI adoption and the accelerating demand for AI-enabled technologies.

In a bourse filing, Derayah Financial revealed that 40% of the commitment, amounting to SAR 97.5 million, was called upon the transaction closing on 28 August, while the remaining 60% will be drawn over the following 24 months.

With a target size of SAR 4.5 billion, the HOF Capital Strategic Opportunities Fund II will focus on building a portfolio of nearly 15 investments across AI, enterprise software, and frontier technology.

Derayah Financial also announced its plan to launch a multi-strategy fund focused on AI and Technology, which will be managed by Derayah’s Asset Management Team. Upon launch, Derayah Financial intends to transfer its investment in HOF Capital Strategic Opportunities Fund II to the new fund.

This aligns with the company’s strategy to expand its Asset Management offering, particularly in private markets, and provide investors with access to high-quality investment opportunities in leading global Technology and AI companies.