The Cultural Development Fund signs an agreement to establish the first investment fund in the fashion sector, with a size of SAR 300 million, in partnership with Merak Capital

RIYADH, Saudi Arabia, Oct. 01, 2025 (GLOBE NEWSWIRE) -- Under the patronage of His Highness Prince Bader bin Abdullah bin Farhan Al Saud, Minister of Culture and Chairman of the Board of Directors of the Cultural Development Fund, CDF today signed an agreement to establish the Kingdom’s first dedicated investment fund in the fashion sector, with a total capital of SAR 300 million. The announcement was made during the Cultural Investment Conference organized by the Ministry of Culture at the King Fahad Cultural Center in Riyadh, held under the patronage of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.

The fund, managed by Merak Capital with the Cultural Development Fund as an anchor investor, will focus on accelerating investments in the fashion sector, including companies, brands, and innovative projects with high-growth potential. It will also target the development of supply chains and related services, while adhering to global best practices in asset and risk management.

The establishment of this fund underscores the Cultural Development Fund’s role as a center of excellence and financial enabler for the cultural sector, introducing innovative financing and enablement solutions that amplify the sector’s economic and social impact, in alignment with the National Culture Strategy and Saudi Vision 2030.

The announcement was part of the inaugural Cultural Investment Conference – the world’s first event dedicated to positioning culture as an economic driver and an attractive sector for investment. By introducing such landmark initiatives, the conference aims to support the growth of cultural industries and broaden investment opportunities, reinforcing the Kingdom’s vision of culture as a key contributor to economic diversification and development.

About the Cultural Investment Conference

The Cultural Investment Conference is an influential platform that highlights culture as both a pillar of national identity and a promising investment opportunity. The annual two-day event positions culture as a sustainable economic engine by supporting innovation, fostering entrepreneurship, while serving as a meeting point to exchange expertise, explore innovative financing tools, and build international partnerships that advance sustainable cultural investment and the growth of creative industries.

About the Saudi Ministry of Culture:

Saudi Arabia has a vast history of arts and culture. The Ministry of Culture is developing Saudi Arabia’s cultural economy and enriching the daily lives of citizens, residents, and visitors. Overseeing 11 sector-specific commissions, the Ministry works toward the support of and preservation of a vibrant culture that is true to its past and looks to the future by cherishing heritage and unleashing new and inspiring forms of expression for all.

Find the Ministry of Culture on social media: X @MOCSaudi (Arabic); @MOCSaudi_En (English) | Instagram @mocsaudi

About the Cultural Development Fund:

Founded in 2021, the CDF seeks to enrich Saudi Arabia's cultural landscape. It is organizationally linked to the National Development Fund and aims to foster the development of a self-reliant cultural sector. By supporting cultural activities and projects, empowering those interested in them, and facilitating investment in the sector, the CDF works to improve the cultural sector's profitability in alignment with the National Culture Strategy and Saudi Vision 2030.

For more information about the Cultural Development Fund visit: cdf.gov.sa.
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LinkedIn: Saudi Cultural Development Fund

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Saudi Ministry of Culture

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