Riyadh - Mubasher: Merak Capital has signed an agreement with the Cultural Development Fund to launch Saudi Arabia’s first private equity fund for the fashion sector, valued at SAR 300 million.
The fund will back Saudi brands and growth-stage companies across apparel, accessories, and beauty, while supporting e-commerce platforms and supply chain enablers, according to a press release.
Announced at the Cultural Investment Conference in Riyadh, the investment will be managed by Merak Capital, with the Cultural Development Fund as the anchor investor.
The initiative aligns with the National Culture Strategy and Vision 2030 by boosting innovation, competitiveness, and global expansion of Saudi talent and businesses.
Majed Abdulmohsen Alhugail, CEO of the Cultural Development Fund, said: “Through our strategic partnerships with the private sector, we are laying the foundations for growth, innovation, and global market access, while empowering enterprises and fashion entrepreneurs to maximize their economic and social impact.”
Earlier in September 2025, Merak Capital invested $1.20 million in Saudi fintech Bynow to support product development and regional expansion.
