Riyadh - Sharikat Mubasher: Merak Capital, a leading Saudi investment company focusing on technology companies, signed an agreement with the Cultural Development Fund (CDF) to launch Saudi Arabia’s first private equity fund dedicated to the fashion sector, with a total value of SAR 300 million (around $80 million).

The fund will focus on growth-stage companies and Saudi brands with proven traction and ambitious expansion plans, as well as innovative projects that harness technology and new business models to drive competitiveness, a recent statement revealed.

It will invest across the fashion value chain, from apparel and accessories to supply chain enablers, e-commerce, and beauty, and will be managed by Merak Capital, with CDF serving as an anchor investor.

Abdullah Altamami, Founder and CEO of Merak Capital, commented: “The establishment of the first private equity fund in the fashion sector marks a pivotal milestone in advancing the Kingdom’s creative industries and positioning Saudi Arabia as a hub for talent and innovation.”

He noted that the partnership with the CDF reflects the company’s commitment to supporting national projects and enabling Saudi brands to expand regionally and globally.

Meanwhile, Majed Alhugail, CEO of the Cultural Development Fund, stated that the establishment of the fashion fund marks a pivotal step toward building a sustainable and competitive Saudi fashion industry in this dynamic sector. “This fund extends the Cultural Development Fund’s approach to advancing the creative industries and solidifying their role as key drivers of employment, investment, and the national economy, in alignment with the objectives of Vision 2030,” he added.

The agreement was signed during the Cultural Investment Conference organized by the Ministry of Culture, in the presence of Badr Farhan, Minister of Culture and Chairman of the Cultural Development Fund.