Riyadh – Sharikat Mubasher: Saudi Arabia announced it has introduced its first private equity fund dedicated to the fashion sector, with the rebranding of The Fashion Fund into ZYA Fund, signaling growing investment momentum across the Kingdom’s cultural industries.

Launched through a partnership between the Cultural Development Fund (CDF) and Merak Capital, the fund aims to support high-potential opportunities across the fashion value chain, as per a recent press release. With a total size of SAR 300 million, the fund is anchored by CDF, which holds a 40% stake, while Merak Capital serves as fund manager.

The fund’s inaugural board meeting brought together key figures from the sector, chaired by Hamed Fayez, with Majed Alhugail as Vice Chairman. Other members include Abdullah Altamami, Burak Cakmak, and Ravi Thakran.

ZYA Fund will invest across design, production, supply chains, e-commerce, and beauty, with a focus on helping Saudi brands scale regionally and globally. The initiative aligns with broader efforts to strengthen the Kingdom’s creative economy and advance the goals of Saudi Vision 2030 by building a more competitive and sustainable fashion ecosystem.