https://arab.news/9tcxg
RIYADH: Under the patronage of Prince Bader bin Abdullah bin Farhan Al Saud, minister of culture and chairman of the board of directors of the Cultural Development Fund, CDF has signed an agreement to establish the second dedicated investment fund in the film sector with a total capital of SR375 million ($100 million).
The fund will be managed by BSF Capital, with CDF participating as an anchor investor.
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 Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister.
The fund, which will collaborate with one of the world鈥檚 leading film production companies is designed to expand investment horizons in the Kingdom鈥檚 growing film sector.
Its focus will include strategic investments in innovative projects and facilities within the film industry, both locally and internationally, covering film production, distribution, and infrastructure development, while adhering to global best practices in asset and risk management.
This marks the second film investment fund in which the Cultural Development Fund plays the role of an anchor investor, following the 鈥淩iviera Content鈥� Fund 鈥� formerly known as the Saudi Film Fund.
With the launch of this new fund, the total value of the two funds now stands at SR750 million, underscoring the strength and attractiveness of Saudi cinema and the Kingdom鈥檚 promising investment potential in the cultural and creative industries.
The announcement took place as part of the inaugural Cultural Investment Conference 鈥� the first global event dedicated to positioning culture as an economic driver.
Through initiatives such as this, the Cultural Development Fund continues to play its role as a center of excellence and financial enabler for the cultural sector, introducing innovative financing solutions that support sustainable growth, encourage private investment, and align with the National Culture Strategy and Saudi Vision 2030.