Merak Capital Introduces $80 Million Fund to Boost Gaming Startups in MENA

Merak Capital has unveiled an $80 million fund dedicated to nurturing startups within the gaming industry across Asia, the Middle East, and North Africa. The initiative, known as Exel by Merak, is set to back between 15 to 20 gaming startups, encompassing a broad spectrum of services including game development, cutting-edge gaming technologies, and publishing platforms. Through this accelerator program, participating companies will receive equity investments, expert mentorship, legal and relocation assistance, and access to a suite of tools and resources. A key objective of the program is for these startups to develop at least 15 games that are not only commercially viable but also capable of generating revenue. According to Abdullah Altamami, CEO and founder of Merak Capital, "The launch of Exel by Merak and its gaming accelerator underscores our commitment to fostering a thriving gaming ecosystem in Saudi Arabia." He further emphasized, "At Merak, we utilize our deep industry insights and extensive global network to provide our selected startups with not just financial investment, but also with bespoke resources and strategic guidance that are pivotal to their success. By offering mentorship from renowned experts, specialized support services, and connectivity to a powerful network, we strive to empower these startups to drive innovation, thereby positioning Saudi Arabia as a beacon of gaming excellence globally." Faisal Sedrani, Vice President and leader of Exel by Merak, noted, "Our accelerator is meticulously designed to offer both financial backing and assistance in tapping into a vast network of industry specialists, thereby enabling entrepreneurs to transform their gaming ideas into sustainable, thriving gaming companies."