The Saudi Cultural Development Fund (CDF) revealed a new investment program in the film sector at a value of 300 million Saudi riyals (about $80 million), and the launch of a global partnership with international institutions. The Cultural Fund launched its new investment program on the sidelines of the Cannes Film Festival, which is being held in France, with the participation of various Saudi entities. The CDF announced partnerships with MEFIC Capital and holding company ROAA Media Ventures to establish the Film Investment Fund, budgeted at $100 million.
This Film Investment Fund aims to invest in or provide funding to the companies and projects in the Saudi film sector; provide network support through mentors, business leaders, and distribution networks; and ensure proper risk management for investment portfolios