The Tourism Development Fund has signed an agreement with Derayah Financial, a pioneer in brokerage, investment, solutions and investment funds, to establish a closed private equity fund, specialized in investing in small- and medium-sized tourism enterprises in the kingdom, with a target capital of SAR 100 million.

Launching the new investment fund comes within the framework of the Tourism Development Fund’s commitment to stimulating and supporting tourism investment by providing more financing opportunities, to support the expansion of small- and medium-sized tourism enterprises and stimulate them, in line with the economic boom of the kingdom.

The new investment fund aims to invest in promising tourism opportunities in the targeted tourist areas. The targeted tourism sectors also include accommodation, experiences and tourism activities, entertainment and adventure tourism, restaurants and cafes within tourist destinations, travel and tourism services and retail trade in tourism goods.

Derayah will manage the new fund backed by its experience in asset and investment management, innovating solutions and investment funds in Saudi Arabia, the Gulf and international markets.