Saudi financial services company Derayah Financial has committed up to $65M to HOF Capital Strategic Opportunities Fund II, expanding its exposure to artificial intelligence, enterprise software and advanced technologies.
Derayah said it completed the binding commitment on August 28, paying SAR 97.5M ($26M) at closing. The remaining 60% will be funded over the following 24 months through internal resources and available credit facilities.
Managed by HOF Capital Management, the fund is targeting total commitments of SAR 4.5B ($1.2B), with a hard cap of SAR 5.625B ($1.5B). It is expected to make around 15 investments, although the final number will depend on the fund manager’s strategy and available opportunities.
The investment supports Derayah’s broader push into asset management and private markets. The company said it is also working to launch a multi-strategy fund focused on artificial intelligence and technology, subject to regulatory approval. If launched, Derayah plans to transfer its HOF Capital investment to the new fund, which would be managed by its own asset management team.
According to the announcement, the proposed fund could generate subscription and management fee revenue once established and offered to targeted investors.
Source: EntArabi
