Impact46 Collaborate with NDF and SDB to Establish a SAR 150 Million Fund for the Gaming Industry
Impact46 announced today at the LEAP conference the establishment of a new fund dedicated to investing in the gaming industry with a capital of 150 million Saudi Riyals. This initiative is brought to life through a strategic partnership with both the National Development Fund and the Social Development Bank. The fund is designed to support the growth of the gaming industry in Saudi Arabia by investing in game development companies and studios, whether they are local or international, and also to attract leading global companies to expand their operations in Saudi Arabia.
This fund is a first of its kind in the region and forms as a part of the Gaming and Esports Financing Program, cooperating with the Saudi Esports Federation, the National Development Fund, and the Social Development Bank. It aims to provide development financing for companies operating in the gaming industry in order to support their growth, and enhance the local content of games developed, 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).
Governor of NDF, Dr. Stephen Grove, stated, “The gaming and Esports industry has seen exponential growth globally, generating substantial revenue and job opportunities. With Saudi Arabia’s young demographic and other attractive investment components, NDF and our partners are prioritizing innovative financing solutions for this industry. We aim to ensure its financial sustainability and contribute to the Kingdom’s economic diversification and job creation efforts.”
CEO of SDB, Eng. Sultan Al-Humaidi emphasized SDB’s commitment to supporting the gaming and e-sports industry, recognizing its potential for growth within the Kingdom. “Our objective is to cultivate the industry to self-sufficiency, positioning the Kingdom as a global hub. We provide the necessary support to ensure this venture succeeds, advancing the Saudi digital economy forward as a key component of the Kingdom’s digital transformation goals aligned with Saudi Vision 2030.”
The CEO of Impact46, Abdulaziz Al Omran, commented, “We are proud to announce this strategic partnership with the National Development Fund and the Saudi Development Bank, which strengthens our role as effective contributors to the support and evolution of the gaming industry. We expect this fund to empower gaming startups locally and internationally. We believe that the gaming industry has a promising future in the Kingdom, with this fund playing a critical role in realizing these prospects.”
