Saudi Investment Firm Backs Five Game Studios with $6.7M Fund

Impact46 is one of Saudi Arabia's most established venture capital firms with a strong track record of backing successful tech startups. It was launched in March 2024 and signals a deliberate expansion from traditional tech sectors into the high-growth creative economy.

The investment reflects Saudi Arabia's broader economic diversification efforts under Crown Prince Mohammed bin Salman's Vision 2030 plan, which aims to reduce the kingdom's dependence on oil revenue.

Backing the Builders of the Future

Impact46's investment represents more than a financial bet on individual companies. The fund is positioning itself in a market with significant growth potential, driven by the region's young, tech-savvy population

"We see gaming as more than a sector; it's a language of youth, culture and creation," said Basmah Alsinaidi, managing partner at Impact46. "Through these investments, we're backing builders who aren't just launching games but creating the infrastructure, stories and platforms that define the next era of content in the region."

Fuel for Ambition and Global Reach

For these gaming developers, the funding provides stability and essential resources. The chosen studios have already demonstrated significant potential. For instance, local mobile-focused studios Fahy Games and NJD both have popular titles on regional app stores that have shown strong user engagement and monetization potential. This capital injection will help them scale from local hits to global contenders.

Meanwhile, PC developer Starvania has a cult following with a successful early-access release of its debut title, praised for its unique art style. The investment enables them to expand their team for a full-scale launch.

For established players like Game Cooks, the award-winning Lebanese studio behind the hit VR title 'Vindicta,' the funding solidifies their new Riyadh headquarters as a base to produce more ambitious cross-platform projects for both Arab and worldwide audiences. Similarly, it supports the expansion of proven studios like Turkey's Alpaka Games into the burgeoning Saudi market.

This $6.7 million investment finds its place within a much larger regional strategy. It stands in contrast to the multi-billion-dollar acquisitions made by giants like the PIF-backed Savvy Games Group, which has purchased major global publishers like Scopely and taken significant stakes in Nintendo and Embracer Group.

While Savvy executes a top-down strategy of acquiring major international players, Impact46's approach is distinctly bottom-up. It focuses on nurturing homegrown and regional talent from the seed stage, filling a critical gap in the ecosystem.

Unlocking a High-Growth Market

The investment comes as global game publishers seek new markets for expansion. The MENA region's young demographics, with a median age of 25 compared with 38 in Europe, present an attractive opportunity for companies looking to grow their user base.

Entering a new market comes with risks; however, the emergence of professionally run, well-funded local studios helps mitigate the risks associated with entering the MENA market. Instead of building a presence from scratch, publishers can collaborate with established local talent that deeply understands the culture and can create authentic experiences.

This provides them with a ready pipeline of potential partners for publishing deals, co-development projects, or even acquisitions, allowing for the creation of regional content that can be successfully exported to a global audience.