Pif, Saudi Arabia's state investment fund, has entered into and sponsored the new Global Series on the European Tour (LET).
This involves five competitions taking place in Saudi Arabia, South Korea, England, the USA, and China.
The prize money for each competition will range from 20-40 million kronor, and the total prize money will amount to 130 million kronor, according to LET's website.
These are the highest prize money in women's golf, excluding majors.
"This partnership with Pif continues to raise the level of competition and engagement around women's golf, to ensure that our players have the best possible conditions to develop and succeed, says LET's CEO Alexandra Armas in a statement.
Pif has invested a lot of money in sports in recent years. Something that has been called "sportswashing", as it is seen as a means to launder Saudi Arabia's reputation.
The fund has, among other things, invested in men's golf's LIV tour and the English football club Newcastle, where Swede Alexander Isak plays.
