The fund has a target size of SR1.5 billion ($399.9 million). DUBAI: Saudi information technology firm Al-Moammar Information Systems (MIS) has launched a new fund with Saudi Fransi Capital, aimed at building six data centers across the Kingdom. The first-of-its-kind, the companies claimed, Saudi Data Center Fund 1 will be used to build the data centers in two areas with a combined initial capacity of 24 megawatts. It has a target size of SR1.5 billion ($399.9 million). MIS will design, construct, and manage the centers.