Saudi Arabia has launched two venture capital (VC) funds worth SAR 450 million ($120 million) to boost the electronic gaming and esports sector, a collaborative effort by the National Development Fund, the Social Development Bank, Merak Financial, and Impact46. These funds aim to support startups and SMEs, fostering growth and innovation in this promising field.
🎮 By providing financial backing, alongside consulting and technical support, the initiative seeks to propel companies from their foundational stages to expansion, enhancing product development and market penetration.
🎮 This strategic investment is set to significantly contribute to the development of the gaming and esports ecosystem in the Kingdom, positioning Saudi Arabia as a key player in the global arena and attracting further local and international investments.
