Merak Capital has launched an $80 million fund to support startups in the gaming sector across the Middle East, North Africa (MENA), and Asia. The initiative includes an accelerator program aimed at fostering innovation and enhancing the region’s gaming ecosystem. The fund was announced during LEAP 2024, a major technology conference hosted in Saudi Arabia, which secured $888 million in investments for various tech and entrepreneurial initiatives.
The accelerator program will focus on nurturing early-stage startups and providing resources to accelerate growth in a sector that is rapidly expanding in the region. Merak Capital’s initiative is part of a broader strategy to position the region as a global hub for gaming and esports. The Saudi government and private entities have been increasingly investing in this domain, recognizing its potential for economic diversification and cultural influence.
The MENA gaming market has seen exponential growth, bolstered by high smartphone penetration rates, youth demographics, and governmental support. Countries in the region, especially Saudi Arabia and the UAE, are investing heavily in gaming infrastructure and events, such as the Gamers8 festival, to drive industry momentum. In this context, Merak Capital’s fund represents a strategic move to capitalize on these trends while addressing gaps in local game development and publishing capabilities.
Industry leaders have pointed to the MENA region’s untapped potential, with its gaming market forecast to grow significantly over the next decade. By offering financial backing and mentorship through the accelerator, Merak Capital aims to foster the emergence of homegrown gaming studios and innovative startups that can compete on a global scale. This move is expected to not only enhance the regional ecosystem but also attract international players to collaborate and invest in MENA-based ventures.
