Extend Group, Rassanah Financial launch $26.6 million fund to support Saudi SMEs

Extend Group, Rassanah Financial launch $26.6 million fund to support Saudi SMEs

Saudi Arabia-based companies Extend Group and Rassanah Financial have united to launch a $26.6 million Extend Fund (SAR100 million) to support Saudi small and medium-sized enterprises (SMEs).

The fund will be managed by a specialised team from Rassanah Financial and aims to create new job opportunities and empower national talent pool to highlight and enhance Saudi culture on the global stage.

The Extended Fund will focus on supporting sectors, such as digital media, arts, Arab culture, and media production.

Source: EntArabi

In a strategic move aimed at supporting and enhancing the growth of small and medium-sized enterprises (SMEs) in Saudi Arabia, the Saudi-based “Extend Group,” in collaboration with “Rassanah Financial,” a company specializing in asset management and investment solutions, announced the launch of the “Extend Fund.” This initiative emerges as a pioneering effort to stimulate innovation and development in sectors such as digital media, arts, Arab culture, and media production, thereby providing a fertile environment for competition and growth.

The fund is valued at SAR100 million and is managed by a specialised team from “Rassanah Financial.” This significant investment aims not only to create new job opportunities but also to empower national talents to highlight and enhance Saudi culture on the global stage, presenting an