Fahy secures strategic investment of $1.75mln from Impact46 and Merak Capital
Investment fuels the development of high-quality, commercially successful mobile games.
Fahy aims to contribute to Saudi Arabia's vision of becoming a global gaming hub.
Riyadh, Saudi Arabia – 'Fahy', a rising game development studio in Saudi Arabia, has secured strategic investment of 1.75mn USD from Impact46 and Merak Capital. This milestone reflects the studio's potential, and its commitment to shaping the future of mobile gaming while contributing to Saudi Arabia's expanding gaming ecosystem.
Founded in early 2023 by Hani Hashem, Owis Alsaour, and Fahad Alshibl, Fahy rapidly gained momentum upon their enrollment in NEOM's exclusive LevelUp accelerator, where they transformed from an indie team into a scalable studio. The studio further expanded its reach through a publishing partnership with Kwalee, gaining access to world-class expertise in user acquisition, monetization, and global game publishing.
Fahy's strategy revolves around the hybrid casual genre, building games that blend accessibility with depth. Hani Hashem, CEO and Co-founder of Fahy, explains, 'Today's mobile gamers want more than fleeting experiences. They seek games that are easy to pick up but offer meaningful progression. Our goal is to create games that are instantly fun yet endlessly rewarding. '
Fahy's ambitious pipeline features multiple titles including RAWR, an expansive monster-collecting RPG with unique battle mechanics, deep meta elements, and an immersive storyline; Footy Traps, a fast-paced PvP football game where strategy is key to outsmarting opponents and climbing the ranks; and Heist Party, a chaotic multiplayer heist game where players can team up or betray each other in a race for the biggest loot.
'This investment fuels our mission to push the boundaries of mobile gaming, expand our production capabilities, and attract top talent to the Kingdom.' Hani continues. 'We started with a love for gaming and a big dream- to build global hit games from Saudi Arabia, for the world. While our journey is still in its early stages, the backing from Impact46 and Merak Capital is yet another testament to Saudi's growing ecosystem that is empowering us to compete on the world stage. '
Impact46, a leading Saudi investment firm, emphasized the potential of the Saudi gaming market and the role of local studios in driving growth. Basmah Al Sinaidi, Managing Partner at Impact46, stated: "Fahy is one of the unique Saudi studios that possess great potential. We are looking forward to backing the team and their visionary approach to create exceptional games and experiences."
Abdulelah Alshareef, VP of Venture Capital at Merak Capital, highlighted the investment's significance in shaping Saudi Arabia's gaming industry: "The gaming industry in Saudi Arabia is evolving rapidly, and we see tremendous potential in homegrown studios like Fahy. Mobile gaming, in particular, is a high-growth sector, and Fahy Studios is uniquely positioned to create experiences that engage players worldwide. Our investment reflects our belief in their vision and our commitment to fostering the growth of Saudi Arabia's gaming sector. At Merak Capital, we aim to empower startups that combine creativity with strong business models, and Fahy Studios embodies this approach. We are excited to support their journey in building a globally competitive mobile gaming company and contributing to the Kingdom's ambition of becoming a gaming powerhouse.'
Saudi Arabia is home to over 24 million gamers, representing 67% of the population, with local players outspending their global counterparts. With the gaming sector projected to multiply in size globally by 2030, investments in game development and publishing are crucial for establishing the Kingdom as a dominant force in the industry.
About Fahy Studios
Fahy is a Saudi-based game development studio specializing in hybrid-casual mobile games. With the goal of building global hit games from Saudi Arabia for the world, the studio aims to blend accessibility with deeper storytelling and gameplay to create games that are instantly fun yet endlessly rewarding. Fahy Studios combines in-house game design, art, and development to create innovative, engaging gaming experiences that resonate globally.
About Impact46
Impact46 is an innovation-driven, CMA-licensed asset management firm managing over SAR 2.8 billion in alternative investments. Based in Saudi Arabia, the firm delivers institutional-grade investment products across venture capital, private credit, and capital markets. With deep regional expertise and disciplined execution, Impact46 invests alongside institutions, corporates, and family offices to create long-term value and unlock new opportunities. Today, the firm plays a growing role in enabling strategic sectors — including the launch of a SAR 150 million gaming fund and an expanding credit advisory practice for institutional and growth-stage clients.
About Merak Capital
Merak Capital is an investment firm focused on technology opportunities across multiple stages and industries. Merak is built on deep technological research and understanding, staying at the forefront of digital trends, and finding investment opportunities aligned with adoption cycles from different sectors, locally, regionally, and globally. The firm aims to partner with the builders of tomorrow in leading technological transformations, unlocking new markets and opportunities for growth, where innovation, fueled by the entrepreneurial spirit, shapes our future..
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