Derayah commits $65M to global tech growth fund

Derayah Financial Company has entered into a binding commitment to invest up to SAR 244 million (USD 65 million) in HOF Capital Strategic Opportunities Fund II (Cayman), L.P., a fund focused on backing global technology and growth companies.

An initial capital call of SAR 97.5 million — representing 40% of the total commitment — was made at closing on 28 August 2026. The remaining 60% (SAR 146.5 million) is expected to be drawn over the following 24 months in tranches as capital is deployed. The commitment is described as a maximum amount rather than a fully funded sum at closing.

The investment forms part of Derayah's strategy to gain exposure to global technology, artificial intelligence, enterprise software, and frontier technology growth companies. The target fund is aiming for a total size of around SAR 4.5 billion, with a hard cap of SAR 5.6 billion, and plans to build a portfolio of roughly 15 investments.

A two-stage plan

Derayah intends to follow a two-stage structure. In the first stage, it commits directly to HOF Capital Strategic Opportunities Fund II. In the second, it plans to establish a new investment fund in Saudi Arabia — pending approval from the Capital Market Authority (CMA) — into which its commitment would be transferred. Derayah would retain a stake and offer the remaining units to aligned investors.

The commitment is planned to be financed from Derayah's internal resources and available bank facilities. less than SAR 100 million has been called so far, and existing bank facilities remain lightly used.

For local investors, no Saudi-specific fee schedule, minimum ticket size, or subscription price has yet been disclosed. Detailed terms are expected to be published once the CMA approves the planned local fund and it launches. Access to Derayah-managed funds generally takes place through the firm's official platform and app, where investors open an account, complete verification, and subscribe to available funds.

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