Saudi venture capital firm Impact46 has invested over $6.6 million across five gaming studios; Fahy, NJD, Game Cooks, Starvania, and Alpaka, as part of its $40 million Gaming Fund launched in March 2024.
The investments span mobile, PC, console, VR, and hybrid-casual game development, with the studios focused on creating culturally localized content with global appeal. The funding builds on Impact46’s earlier 2025 investments in gaming studios Spoilz and Spekter Games, expanding its active gaming portfolio to seven companies.
“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.”
The five studios represent diverse gaming approaches across the region. Riyadh-based Fahy Studios focuses on hybrid-casual mobile games and is part of NEOM’s LevelUp accelerator program, while NJD is another Saudi mobile game studio.
Game Cooks, originally based in Beirut and San Francisco, specializes in VR, mobile, and PC games with over 22 original titles released. It is now expanding into Saudi Arabia. Starvania is a Saudi indie studio founded by Meaad Aflah and Muslih Alzahrani that develops PC and console fantasy games, and Alpaka Games is based in Istanbul, Turkey, creating hybrid-casual action games for mobile.
Impact46 is one of Saudi Arabia’s leading venture capital firms, founded in 2019 and among the first ones authorized by the Capital Market Authority. The firm has built a strong track record with two IPOs; including Jahez and Rasan, and many other notable investments.
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