Saudi Arabia Reveals $120m Fund

Saudi Arabia Reveals $120m Fund

Investments

13 March 2024 06:06

Saudi Arabia's National Development Fund (NDF) and the Social Development Bank (SDB) have established two venture funds. The announcement was made at the LEAP 2024 technology conference in Riyadh last week, with the funds totaling $120m.

According to release, these funds are part of the Gaming and Esports Financing Programme, designed to offer equity investments to gaming and esports companies to support their growth and increase their contribution to the economy and society.

Saudi Arabia has been making strides within the esports and gaming industry. The country is aiming to establish itself as the main player in the esports world. Through Esports World Cup Foundation there will be more than a 10 tournaments with substantial prize pools.

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Saudi Arabia Reveals $120m Fund

Investments

13 March 2024 06:06

Tags: Saudi Arabia

Saudi Arabia's National Development Fund (NDF) and the Social Development Bank (SDB) have established two venture funds. The announcement was made at the LEAP 2024 technology conference in Riyadh last week, with the funds totaling $120m.

According to release, these funds are part of the Gaming and Esports Financing Programme, designed to offer equity investments to gaming and esports companies to support their growth and increase their contribution to the economy and society.

Saudi Arabia has been making strides within the esports and gaming industry. The country is aiming to establish itself as the main player in the esports world. Through Esports World Cup Foundation there will be more than a 10 tournaments with substantial prize pools.

Share:

Sources:

Report mistake Submit news

Related news

View All

Saudi Arabia to Tighten Spending

Saudi Arabia’s Public Investment Fund, also known as the PIF, may be running low on money for new projects after...

More

Nov 25, 2025

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Saudi Esports Federation announced a new partnership with Stc Group. Stc Play will sponsor a range of events including Gamers8....

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Midwest Games Secures $2m

Midwest Games, a rising game publisher headquartered in Wisconsin, has secured a fresh $2 million investment to expand its efforts...

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Andreessen Horowitz’s startup accelerator, A16Z Speedrun, has officially launched the application window for its sixth cohort, inviting early-stage startups to...

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