Merak Capital has announced a $80 million games fund and accelerator for startups in the Asia, Middle East, and North Africa (MENA) games market.
The investment firm aims to support 15 to 20 game industry startups via Exel by Merak, including developers, gaming technologies, publishing platforms, and other services.
The accelerator will provide these companies with equity investment, mentorship, assistance in legal matters and relocation, 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 games 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 not only with equity investment but also with the tailored resources and strategic support essential for 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 gaming excellence."
Faisal Sedrani, vice president and leader of Exel by Merak, added: "Our accelerator is designed to offer financial support and help entrepreneurs tap into a network of industry experts, empowering them to transform their games into sustainable gaming companies."
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