Saudi’s NDF & SDB to establish gaming-industry focused venture funds

Saudi’s NDF & SDB to establish gaming-industry focused venture funds

The Saudi National Development Fund (NDF), in collaboration with the Social Development Bank (SDB), has signed two agreements to establish two venture funds with a total size of $120 million, in an innovative move to bolster the gaming and Esports industry within the Kingdom of Saudi Arabia. The announcement was made during the LEAP 2024 […]The Saudi National Development Fund (NDF), in collaboration with the Social Development Bank (SDB), has signed two agreements to establish two venture funds with a total size of $120 million, in an innovative move to bolster the gaming and Esports industry within the Kingdom of Saudi Arabia.

The announcement was made during the LEAP 2024 technology conference in Riyadh, marking a significant step towards nurturing the thriving gaming and Esports industry.

The initiative is part of the Gaming and Esports Financing Program, cooperating with the Saudi Esports Federation. Merak Capital and IMPACT 46, the entities managing the two funds, will provide development financing for gaming and Esports companies through equity investments to accelerate growth, enhance local content development, and amplify the industry’s economic and social impact to achieve the objectives of the National Gaming and Esports Strategy and the Digital Content Program (Ignite).

Merak Capital is set to