• The  Launch of the Saudi Film Fund by MEFIC Capital with a total capital of USD100 million, backed by a significant 40% investment from the Cultural Development Fund.

•  The Objective is to stimulate investment in the Saudi film and media sector, providing crucial financing for innovative content production and distribution infrastructure projects.

•  Collaboration between MEFIC Capital, the Cultural Development Fund, and Roaa Media Ventures to manage the fund and foster partnerships with international studios, showcasing Saudi culture and values through content creation.

MEFIC Capital announced the launch of the Saudi Film Fund, boasting a total capital of USD100 million, with a notable 40% investment from the Cultural Development Fund, according to media report.

This move underscores the lucrative investment landscape within Saudi Arabia’s film and media domain, aiming to bolster funding opportunities for innovative content creation and distribution infrastructure projects. 

Acting as the first joint venture between the Cultural Development Fund and MEFIC Capital, the Saudi Film Fund will be managed by the latter, with Roaa Media Ventures serving as the technical partner.

Together, they seek to forge alliances with premier international studios and produce content that celebrates Saudi culture and values. 

This milestone follows a landmark agreement inked during last year’s Cannes International Film Festival, reaffirming a commitment to fortify the film industry. 

It also aligns with the Cultural Development Fund’s IGNITE Digital Content Program, launched in 2023 to elevate the Kingdom’s digital content landscape. With an impressive annual growth rate exceeding 25%, the Saudi film production market stands as the Arab world’s largest hub for creative cinematic endeavors. 

Such strides are buoyed by the Ministry of Culture and the Quality of Life Program, synergizing with Vision 2030 objectives.