Audi Capital Fund officially launched in Riyadh, introducing a first-of-its-kind investment vehicle for Saudi Arabia’s cultural economy. Consequently, the fund aims to position art as a strategic driver of the Kingdom’s Vision 2030 economic diversification.
The unveiling occurred during the inaugural Cultural Investment Conference, a two-day event designed to highlight the economic potential of culture. Moreover, leaders from government, finance, and art sectors attended, signaling broad support for cultural investment initiatives.
Audi primarily targets institutional and qualified investors, focusing on increasing value in Saudi Arabia’s art ecosystem. Its strategy includes acquiring works, supporting art education, and organizing cultural events to further strengthen the market.
Daniel Asmar, CEO of Audi Capital and former MENA head of Sotheby’s, explained that the fund primarily invests in modern and contemporary artists from Saudi Arabia and the wider MENA region. In addition, the fund allocates a portion of capital to global artists, thereby diversifying its portfolio and enhancing international exposure.
Asmar emphasized the fund’s uniqueness, noting that it is the first fully regulated art investment vehicle in the region. Furthermore, established and regulated in Saudi Arabia, the fund bridges the financial world with the art and cultural sectors, channeling capital into regional art markets.
The governance structure also differentiates the fund. In particular, a board of directors oversees operations, while an advisory and acquisition committee composed of industry experts guides strategy. Additionally, Asmar highlighted the carefully selected service providers who support the fund’s operations and investor services, ensuring efficiency and reliability.
Moreover, the fund will host quarterly events for artists, collectors, and investors. These events aim to encourage dialogue, foster education on art collection, and build a robust art ecosystem across Saudi Arabia.
Analysts note that initiatives like the fund can simultaneously stimulate economic growth and support cultural development. By integrating art with finance, the fund further strengthens the Kingdom’s creative industries and global cultural profile.
Looking ahead, the fund plans to expand its activities, creating opportunities for emerging artists and enhancing market transparency. Consequently, the initiative aligns with Saudi Arabia’s broader Vision 2030 goals of promoting culture as both an economic driver and a pillar of social development.
Ultimately, the fund represents a significant milestone in the Kingdom’s cultural investment landscape. By combining strategic governance, education, and financial expertise, the fund aims to elevate the regional art market while meaningfully contributing to economic diversification.
