Merak Capital has announced an $80 million gaming fund and accelerator for gaming startups in Asia, the Middle East and North Africa (MENA).
The investment firm aims to support 15 to 20 startups in the gaming industry through Exel by Merak, including developers, game technologies, publishing platforms and other services.
The accelerator will provide these companies with equity investment, mentorship, 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 are 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 the tailored resources and strategic support necessary for their success.
“By offering mentorship from top experts, support services from gaming industry experts and access to an exploitable network, we aim to empower these startups to drive innovation and establish Saudi Arabia as a global hub of gaming excellence.”
Faisal Sedrani, Vice President and Head of Exel by Merak, added: “Our accelerator is designed to offer financial support and help entrepreneurs tap into a network of industry experts, enabling them to transform their games into sustainable gaming companies.”