Merak Capital has initiated an $80 million fund aimed at supporting gaming startups in the MENA region

An $80 million fund and accelerator for gaming startups in the Asian and MENA regions has been unveiled by Merak Capital. The firm's aim is to foster the growth of 15 to 20 startups through the Exel by Merak initiative.

This program targets entities in game development, gaming tech, publishing, and related services. The support offered includes equity funding, expert guidance, legal and relocation aid, besides access to necessary tools and resources.

The initiative plans for the development of a minimum of 15 viable, revenue-generating games.

Abdullah Altamami, CEO and founder of Merak Capital, explained, "Exel by Merak showcases our dedication to nurturing a dynamic gaming scene in Saudi Arabia."

He emphasized that Merak's strategy involves utilizing their expertise and international connections to equip startups with both financial backing and customized support crucial for success.

Furthermore, through insightful guidance from top-tier experts and a strong industry network, these startups will be positioned to innovate and elevate Saudi Arabia's status in the global gaming domain, he noted.

Faisal Sedrani, who leads Exel by Merak, highlighted that the accelerator's design is meant to provide financial assistance and connect entrepreneurs with industry veterans, enabling the growth of sustainable gaming enterprises.