Saudi Cultural Development Fund agrees $100m film sector investment fund with BSF Capital
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’s leading film production companies is designed to expand investment horizons in the Kingdom’s growing film sector.
