Merak Capital Launches USD 80 Million Fashion Fund in Saudi Arabia
The Cultural Development Fund and Merak Capital launch an $80m private equity Fashion Fund, driving growth for Saudi brands, supply chains, and innovators while aligning with Vision 2030 ambitions.
Merak Capital has launched its first private equity fund dedicated to the Saudi fashion industry, marking a new investment stream for one of the Kingdom’s fastest-growing creative sectors.
Announced at the Cultural Investment Conference in Riyadh, the SAR 300 million (USD 80 million) Fashion Fund is managed by the Riyadh-based investment firm with the Cultural Development Fund (CDF) acting as anchor investor. The fund aims to support growth-stage companies and established Saudi brands while also backing projects that integrate technology and new business models across the value chain.
Targeted areas include apparel, accessories, e-commerce, beauty, and supply chain enablers. The initiative is designed to strengthen Saudi Arabia’s fashion ecosystem, provide capital for local talent, and expand the sector’s regional and global presence in line with Vision 2030.
The move comes as Saudi Arabia’s fashion and luxury market is projected to grow from USD 30 billion in 2023 to nearly USD 42 billion by 2028. The Fashion Fund builds on earlier state-backed measures such as the establishment of the Fashion Commission under the Ministry of Culture, which supports Saudi designers and creative entrepreneurship.
- Previous Article The Very Realistic Girls’ Guide to Dahab on Egypt's Red Sea
- Next Article Amazon Credit Card Launches in UAE
