The Saudi Esports Federation (SEF) and Merak Capital have signed a strategic Memorandum of Understanding (MoU) to boost the development of the Kingdom’s gaming and esports sector.
The partnership supports the goals of Saudi Vision 2030 and the National Gaming and Esports Strategy, aiming to position Saudi Arabia as a global hub for gaming innovation and competitive esports.
The partnership reflects SEF’s role in leading the ecosystem locally and globally, alongside Merak Capital’s commitment to investing in promising technology companies. It creates an integrated framework that supports talent, startups, and innovation.
This collaboration builds on initiatives launched by the Merak Gaming Fund, an $80 million investment fund under the Gaming and Esports Sector Financing Program, overseen by the National Development Fund in cooperation with the Social Development Bank and SEF.
The fund plays a pivotal role in achieving the objectives of the National Gaming and Esports Strategy and complements the ‘Ignite Digital Content Program,’ contributing to innovation, growth, and strengthening the Kingdom’s position as a global hub for gaming and esports.
According to the statement, the National Development Fund plays a key role in supporting high-potential sectors, such as gaming and esports, through a comprehensive development financing system.
As part of this effort, the Merak Gaming Fund drives investment and innovation, fosters strategic partnerships, and supports the growth of startups and major projects.
This initiative strengthens the Kingdom’s position as a regional leader in digital entertainment and contributes to broader economic development goals, in alignment with Saudi Vision 2030.
The MoU also opens new avenues for cooperation across the gaming value chain, including the development of training programs and professional certificates, enhancing international partnerships, and supporting the Kingdom’s participation in global events and tournaments.
The partnership focuses on attracting international gaming companies and studios to the Kingdom, contributing to knowledge transfer and local capacity building.
Through this collaboration, SEF and Merak Capital seek to establish a sustainable and scalable ecosystem that drives innovation, creates new economic opportunities, and advances the Kingdom’s leadership in the global gaming and esports industry, as per the statement.
