Saudi venture capital firm Impact46 allocates $6.6 million across five game development studios
In a strategic move to support the growing gaming industry in the Middle East and North Africa (MENA) region, Impact46, one of Saudi Arabia's leading venture capital firms, has invested over $6.6 million from its $40 million Gaming Fund into five gaming studios.
These studios, each with a unique focus and expertise, are Fahy Studios, NJD, Game Cooks, Starvania, and Alpaka Games. Impact46's investments reflect their strategy to back companies creating culturally localized digital content with global appeal.
Fahy Studios, based in Riyadh, received $1.75 million from Impact46 and Merak Capital. The funds will be used to accelerate production of hybrid-casual mobile games, expand production capabilities, and hire talent. Fahy, which emerged from NEOM’s LevelUp accelerator, partners with global publisher Kwalee to create mobile games with global reach rooted in Saudi culture.
NJD, another Saudi mobile game studio, focuses on culturally rooted mobile games, although the exact investment amount was not disclosed. Game Cooks, an experienced studio with over 22 shipped titles, is expanding into Saudi Arabia and works across diverse platforms.
Starvania, an indie Saudi studio, develops fantasy games for PC and console, while Alpaka Games, based in Istanbul, Turkey, creates hybrid-casual action games for mobile platforms with designs inspired by regional cultures.
Basmah Alsinaidi, Managing Partner at Impact46, emphasized that gaming is more than a sector, it's a language of youth, culture, and creation. Impact46 describes gaming as a "language of youth, culture, and creation" and explicitly targets studios that not only produce games but also build the infrastructure, stories, and platforms that define the new era of regional digital content.
The investments are part of Impact46's $40 million Gaming Fund launched in March 2024. Other notable investments by the firm include Jahez and Rasan, for which they facilitated two Initial Public Offerings (IPOs).
In addition to the gaming sector, other MENA startups have also raised significant funds. For instance, Saudi foodtech Calo raised $39 million in Series B extension for AI push and global expansion, while Saudi's Salasa raised $30 million in Series B to expand its ecommerce fulfillment platform across the Gulf Cooperation Council (GCC). Dubai fintech Alaan raised $48 million in Series A to expand AI-powered expense management across the Middle East and North Africa (MENA).
The article was published on August 11, 2025, by MB Staff.
References: [1] Impact46 Press Release. (2025, August 11). Impact46 Invests in Five Gaming Studios. Retrieved from https://www.impact46.com/press-releases/impact46-invests-in-five-gaming-studios
[2] Al-Sabhan, A. (2025, August 11). Impact46 Invests in Saudi and Regional Gaming Studios. Retrieved from https://www.arabnews.com/node/1834631/business-economy
[3] Khoury, R. (2025, August 11). Impact46 Invests in Fahy Studios, NJD, and Other Gaming Studios. Retrieved from https://www.arabianbusiness.com/technology/412977-impact46-invests-in-fahy-studios-njd-and-other-gaming-studios
Investing in technology-driven gaming studios is a key aspect of Impact46's strategy, as demonstrated by their $6.6 million investment into Fahy Studios, NJD, Game Cooks, Starvania, and Alpaka Games from their $40 million Gaming Fund. These studios create culturally localized digital content with global appeal, reflecting Impact46's focus on supporting businesses that build the infrastructure, stories, and platforms defining the new era of regional digital content.
