Latest news with #MerakCapital
Zawya
10 hours ago
- Entertainment
- Zawya
Fahy secures strategic investment of $1.75mln from Impact46 and Merak Capital
Fahy partners with Impact46 and Merak Capital to accelerate gaming innovation in Saudi Arabia. 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..
Zawya
13-02-2025
- Business
- Zawya
Microsoft, Merak Capital tie-up to empower Saudi gaming startups
Merak Capital, a technology-focused investment firm, has signed an agreement with Microsoft to accelerate the growth and global impact of gaming startups in Saudi Arabia. The collaboration leverages Microsoft's technical expertise and global ecosystem to empower gaming entrepreneurs while reinforcing the kingdom's commitment to advancing its gaming industry. This collaboration will provide gaming startups with access to Microsoft's expansive resources, including Azure cloud services, advanced gaming development tools, and its international network of partners. It will also enhance the capabilities of startups via the Exel Gaming Accelerator, enabling them to leverage AI, cloud, and analytics to innovate faster and create immersive gaming experiences, benefit from mentorship and strategic guidance by Microsoft's leading gaming professionals and technology specialists, and expand global reach by unlocking pathways to international markets through Microsoft's global partnerships and distribution channels. This collaboration builds on the solid foundation established by the Merak Gaming Fund (MGF), an $80 million investment fund under the Gaming and Esports Sector Financing Program, overseen by the National Development Fund (NDF) in collaboration with the Social Development Bank and the Saudi Esports Federation. Playing a key role in advancing the National Gaming and Esports Strategy and the Ignite Digital Content Program, the fund aligns with Saudi Vision 2030 to drive innovation and growth in the gaming industry. As part of its broader mandate, the National Development Fund (NDF) oversees an integrated development finance ecosystem that supports key sectors, including E-gaming and esports. Through initiatives like the Merak Gaming Fund (MGF), NDF plays a pivotal role in driving investment and innovation in the gaming industry, aligning with Saudi Vision 2030. By fostering strategic collaborations, NDF strengthens the sector's growth and positions the kingdom as a regional leader in digital entertainment and economic development. Abdullah Altamami, Founder and CEO of Merak Capital, said: 'Microsoft has long been at the forefront of technology innovation, and our collaboration represents a significant step for Saudi Arabia's gaming ecosystem. By bringing Microsoft's industry-leading technology and global expertise into Exel Gaming Accelerator and the Merak Gaming Fund, we are providing gaming founders with the infrastructure, tools, and mentorship needed to build scalable businesses. This collaboration is about more than just technology; it's about enabling studios to create commercially viable games that resonate with global audiences while strengthening the Kingdom's position in the gaming industry." Turki Badhris, President, Microsoft Arabia, commented: 'At Microsoft, we are committed to empowering developers and creators with the tools they need to build transformative experiences. Our collaboration with Merak Capital represents an exciting opportunity to nurture gaming innovation in Saudi Arabia and support a thriving ecosystem that has the potential to make a global impact.' The Exel Gaming Accelerator is now accepting applications for its inaugural cohort. Startups with scalable business models and strong growth potential are encouraged to apply. Participants will gain access to mentorship, investment opportunities, and technical expertise from leading partners. Applications will remain open until February 16, 2025. - TradeArabia News Service Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
TECHx
12-02-2025
- Business
- TECHx
Merak Capital and Huawei Cloud Partner to Power Saudi Gaming Startups News Desk - 12/02/2025 ShareMerak Capital, a technology-focused investment firm licensed by the Capital Market Authority (CMA), has partnered with Huawei Cloud, a global cloud computing company, to drive the growth of Saudi Arabia's gaming industry. This collaboration aims to provide gaming startups with advanced cloud infrastructure, technical expertise, and business support, fostering innovation in line with Saudi Vision 2030.The partnership builds on the Merak Gaming Fund (MGF), an $80 million investment fund under the Gaming and Esports Sector Financing Program, overseen by the National Development Fund (NDF) in collaboration with the Social Development Bank and the Saudi Esports Federation. The fund plays a crucial role in advancing the National Gaming and Esports Strategy (NGES) and the Ignite Digital Content Program, aligning with Saudi Arabia's vision to position the Kingdom as a regional leader in digital entertainment and technology-driven economic diversification.As part of this initiative, gaming startups in the Exel Gaming Accelerator program will gain access to Huawei Cloud's infrastructure credits, advanced technical workshops, cloud-native gaming development training, personalized cloud optimization consultation, and ongoing knowledge-sharing sessions. These resources will empower startups to develop scalable gaming solutions while enhancing cost efficiency.Abdullah Altamami, Founder and CEO of Merak Capital, emphasized the significance of the initiative, stating that the $80 million gaming fund and Exel Gaming Accelerator reinforce the commitment to building a thriving gaming ecosystem. He highlighted the importance of Huawei Cloud's cutting-edge technology in enabling startups to expand into global markets. Lawrence Liu, CEO of Huawei Cloud Saudi Arabia, underscored the role of cloud technology in Saudi Arabia's digital transformation, noting that the collaboration with Merak Capital will help local gaming startups innovate and compete internationally while supporting Vision 2030's digital economic diversification goals.Applications for the Exel Gaming Accelerator cohort are open until February 16, 2025, inviting gaming startups with innovative solutions and strong growth potential to benefit from this comprehensive support system. The partnership between Merak Capital and Huawei Cloud marks a significant step in strengthening Saudi Arabia's gaming industry, fostering local talent, and driving digital innovation.
Merak Capital and Huawei Cloud Partner to Power Saudi Gaming Startups News Desk - Share Merak Capital, a technology-focused investment firm licensed by the Capital Market Authority (CMA), has partnered with Huawei Cloud, a global cloud computing company, to drive the growth of Saudi Arabia's gaming industry. This collaboration aims to provide gaming startups with advanced cloud infrastructure, technical expertise, and business support, fostering innovation in line with Saudi Vision 2030. The partnership builds on the Merak Gaming Fund (MGF), an $80 million investment fund under the Gaming and Esports Sector Financing Program, overseen by the National Development Fund (NDF) in collaboration with the Social Development Bank and the Saudi Esports Federation. The fund plays a crucial role in advancing the National Gaming and Esports Strategy (NGES) and the Ignite Digital Content Program, aligning with Saudi Arabia's vision to position the Kingdom as a regional leader in digital entertainment and technology-driven economic diversification. As part of this initiative, gaming startups in the Exel Gaming Accelerator program will gain access to Huawei Cloud's infrastructure credits, advanced technical workshops, cloud-native gaming development training, personalized cloud optimization consultation, and ongoing knowledge-sharing sessions. These resources will empower startups to develop scalable gaming solutions while enhancing cost efficiency. Abdullah Altamami, Founder and CEO of Merak Capital, emphasized the significance of the initiative, stating that the $80 million gaming fund and Exel Gaming Accelerator reinforce the commitment to building a thriving gaming ecosystem. He highlighted the importance of Huawei Cloud's cutting-edge technology in enabling startups to expand into global markets. Lawrence Liu, CEO of Huawei Cloud Saudi Arabia, underscored the role of cloud technology in Saudi Arabia's digital transformation, noting that the collaboration with Merak Capital will help local gaming startups innovate and compete internationally while supporting Vision 2030's digital economic diversification goals. Applications for the Exel Gaming Accelerator cohort are open until February 16, 2025, inviting gaming startups with innovative solutions and strong growth potential to benefit from this comprehensive support system. The partnership between Merak Capital and Huawei Cloud marks a significant step in strengthening Saudi Arabia's gaming industry, fostering local talent, and driving digital innovation.
Trade Arabia
12-02-2025
- Business
- Trade Arabia
Microsoft, Merak Capital tie-up to empower Saudi gaming startups
Merak Capital, a technology-focused investment firm, has signed an agreement with Microsoft to accelerate the growth and global impact of gaming startups in Saudi Arabia. The collaboration leverages Microsoft's technical expertise and global ecosystem to empower gaming entrepreneurs while reinforcing the kingdom's commitment to advancing its gaming industry. This collaboration will provide gaming startups with access to Microsoft's expansive resources, including Azure cloud services, advanced gaming development tools, and its international network of partners. It will also enhance the capabilities of startups via the Exel Gaming Accelerator, enabling them to leverage AI, cloud, and analytics to innovate faster and create immersive gaming experiences, benefit from mentorship and strategic guidance by Microsoft's leading gaming professionals and technology specialists, and expand global reach by unlocking pathways to international markets through Microsoft's global partnerships and distribution channels. This collaboration builds on the solid foundation established by the Merak Gaming Fund (MGF), an $80 million investment fund under the Gaming and Esports Sector Financing Program, overseen by the National Development Fund (NDF) in collaboration with the Social Development Bank and the Saudi Esports Federation. Playing a key role in advancing the National Gaming and Esports Strategy and the Ignite Digital Content Program, the fund aligns with Saudi Vision 2030 to drive innovation and growth in the gaming industry. As part of its broader mandate, the National Development Fund (NDF) oversees an integrated development finance ecosystem that supports key sectors, including E-gaming and esports. Through initiatives like the Merak Gaming Fund (MGF), NDF plays a pivotal role in driving investment and innovation in the gaming industry, aligning with Saudi Vision 2030. By fostering strategic collaborations, NDF strengthens the sector's growth and positions the kingdom as a regional leader in digital entertainment and economic development. Abdullah Altamami, Founder and CEO of Merak Capital, said: 'Microsoft has long been at the forefront of technology innovation, and our collaboration represents a significant step for Saudi Arabia's gaming ecosystem. By bringing Microsoft's industry-leading technology and global expertise into Exel Gaming Accelerator and the Merak Gaming Fund, we are providing gaming founders with the infrastructure, tools, and mentorship needed to build scalable businesses. This collaboration is about more than just technology; it's about enabling studios to create commercially viable games that resonate with global audiences while strengthening the Kingdom's position in the gaming industry." Turki Badhris, President, Microsoft Arabia, commented: 'At Microsoft, we are committed to empowering developers and creators with the tools they need to build transformative experiences. Our collaboration with Merak Capital represents an exciting opportunity to nurture gaming innovation in Saudi Arabia and support a thriving ecosystem that has the potential to make a global impact.'
Zawya
12-02-2025
- Business
- Zawya
Merak Capital and AWS collaborate toempower the next generation of gaming innovators
The collaboration aims to help early-stage gaming companies scale their operations, achieve international growth, and contribute to a vibrant gaming ecosystem through mentorship, technical expertise, and a focus on long-term impact Riyadh, Saudi Arabia – Merak Capital, a technology-focused investment firm, licensed by Capital Market Authority (CMA), and AWS, a global leader in cloud computing, are collaborating to drive innovation and growth in Saudi Arabia's gaming industry. Together, AWS and Merak Capital aim to provide technical guidance and cloud adoption support to early-stage gaming companies, helping them scale their operations and make progress towards global success. The collaboration is expected to support gaming startups through initiatives such as the Exel Gaming Accelerator, which offers a comprehensive program tailored to the unique needs of gaming entrepreneurs. This accelerator, developed in alignment with Vision 2030 and the National Gaming and Esports Strategy, represents a cornerstone of Saudi Arabia's national efforts to build a vibrant and competitive gaming ecosystem. AWS's contributions include cloud credits for eligible startups, practical workshops, and tailored technical support which will help in, enabling gaming startups to adopt advanced cloud-native technologies, optimize costs, and enhance scalability. The collaboration's holistic approach emphasizes innovation and long-term sector development, positioning Saudi Arabia as a global leader in the gaming sector. This collaboration builds on the solid foundation established by the 'Merak Gaming Fund' (MGF), an $80 million investment fund under the Gaming and Esports Sector Financing Program overseen by the National Development Fund (NDF) in collaboration with the Social Development Bank and the Saudi Esports Federation. The Merak Gaming Fund plays a key role in achieving the objectives of the National Gaming and Esports Strategy and the Ignite Digital Content Program, in alignment with Saudi Arabia's Vision 2030. As part of its broader mandate, the National Development Fund (NDF) oversees an integrated development finance ecosystem that supports key sectors, including E-gaming and esports. Through initiatives like the Merak Gaming Fund (MGF), NDF plays a pivotal role in driving investment and innovation in the gaming industry, aligning with Saudi Vision 2030. By fostering strategic collaborations, NDF strengthens the sector's growth and positions the Kingdom as a regional leader in digital entertainment and economic development. Abdullah Altamami, Founder and CEO of Merak Capital, commented: 'Our collaboration with AWS marks an exciting new chapter in Merak Capital's objective to cultivate a thriving gaming ecosystem in Saudi Arabia. By equipping startups with cutting-edge technology and critical resources through Exel Gaming Accelerator, we are empowering a new generation of gaming entrepreneurs to innovate, compete, and achieve global success.' Exel Gaming Accelerator is now accepting applications for its inaugural cohort. Startups with scalable business models and strong growth potential are encouraged to apply. Participants will gain access to mentorship, investment opportunities, and technical expertise from leading partners, including AWS. Applications will remain open until February 16, 2025. About Merak Capital: Merak Capital is an investment firm focused on technology opportunities across multiple stages and industries. Built on deep technological research and understanding, Merak Capital identifies investment opportunities aligned with digital adoption cycles locally, regionally, and globally. The firm's mission is to partner with the builders of tomorrow, unlocking new markets and driving technological transformation. About Amazon Web Services Since 2006, Amazon Web Services has been the world's most comprehensive and broadly adopted cloud. AWS has been continually expanding its services to support virtually any workload, and it now has more than 240 fully featured services for compute, storage, databases, networking, analytics, machine learning and artificial intelligence (AI), Internet of Things (IoT), mobile, security, hybrid, media, and application development, deployment, and management from 105 Availability Zones within 33 geographic regions, with announced plans for 18 more Availability Zones and six more AWS Regions in Malaysia, Mexico, New Zealand, the Kingdom of Saudi Arabia, Thailand, and the AWS European Sovereign Cloud. Millions of customers—including the fastest-growing startups, largest enterprises, and leading government agencies—trust AWS to power their infrastructure, become more agile, and lower costs. To learn more about AWS, visit About Amazon Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth's Most Customer-Centric Company, Earth's Best Employer, and Earth's Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Career Choice, Fire tablets, Fire TV, Amazon Echo, Alexa, Just Walk Out technology, Amazon Studios, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit and follow @AmazonNews.
