Saudi Arabia’s Merak Capital launched Sunday its gaming fund and accelerator Exel By Merak at VOV Gaming Centre in Riyadh.

The 306 million Saudi riyal (around US$81.5 million) initiative supports early-stage startups in the gaming industry.

Exel By Merak aims to help gaming startups grow globally by offering resources such as equity investment, mentorship, and legal support.

The focus is on game development studios and related services to enhance their international market presence.

The program plans to initially invest in 15 to 20 gaming startups and develop 15 commercially viable games. This aligns with the intention to position Saudi Arabia as a global hub for gaming innovation.