Merak Capital has announced an $80 million gaming fund and accelerator for startups in the Asia, Middle East and North Africa (MENA) gaming market.
The investment firm aims to support 15 to 20 startups in the gaming industry through Exel by Merak, including developers, gaming technologies, publishing platforms and other services.
The accelerator will provide these companies with capital investment, mentoring, legal and relocation assistance, and access to tools and resources.
The startups will aim to develop “at least 15 commercially viable and monetizable games” as part of the program.
“Exel by Merak and its gaming accelerator program is a testament to Merak Capital’s commitment to building a vibrant gaming ecosystem in Saudi Arabia,” said Merak Capital CEO and Founder Abdullah Altamami.
“At Merak, we leverage our industry expertise and global network to provide selected startups with not only capital investment but also customized resources and strategic support essential to their success.
“By offering mentorship from world-class experts, support services from gaming industry experts and access to a leverageable network, we aim to empower these startups to drive innovation and establish Saudi Arabia as a global hub for excellence in the game.
Faisal Sedrani, Vice President and Leader of Exel by Merak, added: “Our accelerator is designed to offer financial support and help entrepreneurs access a network of industry experts, empowering them to transform their games into sustainable gaming companies.”
