Merak Capital and Huawei Cloud Partner to Power Saudi Arabia's Gaming Industry
Merak Capital, a leading technology-focused investment firm, licensed by Capital Market Authority (CMA), and Huawei Cloud, a pioneer in advanced cloud computing solutions, have announced a strategic partnership to accelerate the development of the Kingdom of Saudi Arabia’s gaming industry through comprehensive technical and business support for gaming startups.
This partnership 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.
Through this partnership, gaming startups participating in the Exel Gaming Accelerator program will receive cloud infrastructure credits, enabling them to access Huawei Cloud’s advanced infrastructure, to develop and scale gaming solutions, advanced technical workshops focused on cloud-native gaming development, personalized technical consultation for optimizing cloud architecture and costs. The initiative will also feature regular knowledge-sharing sessions, technical workshops, and collaborative events designed to foster innovation in the gaming sector.
Abdullah Altamami, Founder and CEO of Merak Capital, commented: "The $80 million gaming fund, supported by the National Development Fund, and the launch of Exel Gaming Accelerator reaffirm our dedication to cultivating a thriving gaming ecosystem in the Kingdom. Through our partnership with Huawei Cloud, we are ensuring that startups have access to cutting-edge technology and essential resources, empowering them to enhance their capabilities and successfully expand into new markets."
Lawrence Liu, CEO of Huawei Cloud Saudi Arabia, said: "The gaming industry represents a crucial frontier in Saudi Arabia's digital transformation. By combining Huawei Cloud's advanced infrastructure with Merak Capital's investment expertise, we're creating a powerful ecosystem empowering local gaming startups to innovate and compete globally. This partnership demonstrates our commitment to supporting Vision 2030's goals of digital economic diversification and our broader mission of developing the tech ecosystem in Saudi Arabia."
The strategic partnership between Huawei Cloud and Merak Capital underscores a unified commitment to advancing Saudi Arabia's National Gaming and E-Sports Strategy (NGES) and the broader objectives of Vision 2030. By leveraging Huawei Cloud's cutting-edge technical expertise and Merak Capital's investment leadership, this program aims to foster a thriving ecosystem that drives innovation, empowers local talent, and supports the growth of gaming businesses in the Kingdom.
Applications for the inaugural Exel Gaming Accelerator cohort remain open until February 16, 2025. The program seeks gaming startups with innovative solutions and strong growth potential, offering them access to this comprehensive support ecosystem.
