Idaraiah invests 244M riyals in multi-sector fund

Saudi-based Daraiya Financial has committed an investment of 244 million Saudi Riyals (65 million US dollars) into an investment fund aiming to raise up to 5.62 billion Riyals (1.5 billion US dollars) for investments in artificial intelligence, advanced technologies, and enterprise software sectors. Forty percent of the commitment has been paid so far, with the remaining amount to be paid over the next 24 months. The fund focuses on expanding the company's investments in private markets, particularly in real estate and venture capital, with expectations to enhance fee revenues and achieve sustainable growth in asset management.

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