Merak Capital Launches $80m Fund, Saudi Arabia's First Private Equity Vehicle for Fashion
Merak Capital and the Cultural Development Fund unveiled a SAR300m ($80m) fund, described as the Kingdom's first PE fund dedicated to fashion, to back growth-stage Saudi apparel, beauty and supply-chain brands.
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Merak Capital said it had established Saudi Arabia's first private equity fund dedicated to the fashion sector, a SAR300m ($80m) vehicle anchored by the Cultural Development Fund and announced at the Cultural Investment Conference in Riyadh.
The fund targets growth-stage companies and established Saudi brands across apparel, accessories, e-commerce, beauty and supply-chain enablers, aiming to help local labels expand regionally and globally in line with Vision 2030.