What Merak Capital does

Merak Capital is a Saudi Arabia-based, Capital Market Authority-licensed multi-strategy investment firm headquartered in Riyadh, founded in 2018 and operationally active since June 29, 2020. The firm manages SAR 3 billion or more in assets across 10+ active funds and 35+ portfolio companies as of October 31, 2025, serving institutional investors, family offices, and qualified investors seeking diversified private market exposure aligned with Saudi Vision 2030 priorities. Merak structures and manages high-performing funds across private equity, venture capital, private credit (including the Shariah-compliant Merak Private Murabaha Fund), real assets, and an innovation platform, partnering directly with founders and management teams to accelerate growth and unlock value. Its portfolio spans fintech (Arib, ByNow, Hyperpay, Denarii Cash, BitOasis), cybersecurity (DSShield), healthtech (Hakeem Health), smart mobility (Arsann), agritech (Nabt), enterprise SaaS (Convertedin, Qoyod, JISR), digital assets (Loyyal), and an extensive gaming ecosystem operated through its Exel by Merak accelerator subsidiary.

The firm's revenue model is built on investment management services and fund structuring fees, with pricing not publicly disclosed but typical of CMA-regulated managers (management fees plus performance-based compensation). Its go-to-market is direct and relationship-driven: the firm partners directly with institutional investors and family offices for capital deployment, and sources investments through direct founder outreach, ecosystem partnerships, and its Exel by Merak accelerator pipeline. Strategic alliances with the National Development Fund (gaming fund co-investment), Cultural Development Fund (fashion fund), Sanabil 500 (co-investor in Hakeem Health), Microsoft, AWS, Huawei Cloud, and Savvy Games Group provide both deal flow and value-added resources to portfolio companies. The platform is 100% independent and partner-owned, with leadership including CEO Abdullah Altamami, Managing Partner Othman Alhokail, and a dedicated senior team covering capital formation, private equity, venture capital, and the Exel innovation platform.

Name

Merak Capital

Legal name

Merak Capital Company (شركة ميراك كابيتال)

Website

https://merak.capital

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Merak Capital is a Saudi CMA-licensed multi-strategy investment firm managing SAR 3B+ across 10+ active funds and 35+ portfolio companies. It invests in private equity, venture capital, private credit, real assets, and an innovation platform across MENA, targeting sectors aligned with Vision 2030.

Ownership category

akta.pro rank

Product category

Private Equity and Venture Capital Investment Management

NAICS

Funds, Trusts, and Other Financial Vehicles (525), Portfolio Management and Investment Advice (523940), All Other Financial Investment Activities (52399), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Venture Growth / Recurring Revenue Credit Funds (FSANAIAG)

akta.pro secondary industries

SME Term Loans & Growth Capital (FSAKAGAB), Corporate Strategic Real Assets & Infrastructure Venture Investing (FSANAHAN)

Keywords

• Private equity investment
• Venture capital funding
• Private credit funds
• Real assets investment
• Innovation accelerators

Headquarters

HQ city

Riyadh

HQ country

Saudi Arabia

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Investment Management Services: Merak Capital generates revenue through managing investment funds across private equity, venture capital, private credit, and real assets strategies. The firm collaborates with portfolio company management teams to enhance performance and unlock growth potential.
2. Fund Structuring and Management: The firm structures and manages high-performing funds with excellence in governance, transparency, and long-term performance across diverse investment strategies.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Merak Capital is a Saudi-based, CMA-licensed multi-strategy investment firm that structures and manages high-performing funds across private equity, venture capital, private credit, and real assets, alongside an innovation platform that supports startups through structured accelerators (including gaming and fashion sector funds). The firm partners with institutional investors to deploy capital, and with founders and management teams to accelerate growth in portfolio companies across the MENA region.

Product overview

Merak Capital is a diversified Saudi-based multi-strategy investment firm licensed by the Capital Market Authority (CMA license 18194-32), with approximately SAR 3 billion in assets under management, 35+ portfolio companies, and 10+ active funds as of October 2025. The firm operates a unified investment platform organized around four core strategies — Private Equity, Venture Capital, Private Credit (via the Merak Private Murabaha Fund), and Real Assets — supplemented by an Innovation Platform through its subsidiary Exel by Merak. The investment platform is supported by dedicated sector funds including a Gaming Fund (SAR 306 million) and a Fashion Fund (SAR 300 million). The portfolio spans fintech (Arib, ByNow, Hyperpay, Denarii Cash, BitOasis), cybersecurity (DSShield), healthtech (HakeemDx), AI-powered customer experience (DOO), smart mobility infrastructure (Arsann), agritech (Nabt), enterprise SaaS (Convertedin, Qoyod, JISR), digital assets (Loyyal), and an extensive gaming ecosystem (Exel by Merak accelerator, Starvania Studios, Khosouf Studio, DaFluffs Games, Superbullet Studios, Fahy Studios, and multiple other game studios). The Merak Private Murabaha Fund (MPMF) is the vehicle for its Shariah-compliant private credit strategy. All figures are as of October 31, 2025.

Differentiator

Problem solved

Functional benefit

Brands

• Exel by Merak: A gaming accelerator operated by Merak Capital, providing funding, mentorship, and access to global networks for game studios in the MENA region. The program has graduated multiple cohorts and aligns with Saudi Arabia's Vision 2030 gaming hub objectives.

Products and services

• Merak Capital Investment Platform Multi-strategy investment platform offering private equity, venture capital, private credit, and real assets funds, licensed by the Capital Market Authority under license 18194-32 and targeting institutional investors across the MENA region.
• Private Equity

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered major and core.

• MicrosoftmajorTechnology or Integration · 24 February 2025Strategic MoU signed at LEAP conference providing Azure cloud services, industry expertise, and global market opportunities to support gaming startups in building, scaling, and expanding internationally.
• Amazon Web Services (AWS)majorTechnology or Integration · 24 February 2025Collaboration at LEAP conference to expand gaming infrastructure in Saudi Arabia through AWS cloud services and technical support for portfolio companies.
• Huawei CloudmajorTechnology or Integration · 24 February 2025Strategic MoU with Huawei Cloud signed at LEAP to accelerate gaming sector growth in Saudi Arabia through cloud infrastructure and technology partnerships.
• Savvy Games GroupmajorStrategic or Co-development Partner · 24 February 2025Strategic partnership announced at LEAP to accelerate the gaming investment ecosystem in Saudi Arabia, supporting the Kingdom's ambitions to become a global gaming hub under Vision 2030.
• Exel by MerakcoreOthers · 1 January 2024Merak Capital subsidiary dedicated to innovation programs including gaming accelerator Exel, providing structured accelerators, mentorship, and access to capital to build scalable, impactful businesses.

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• B&Y Venture Partners: MENA early-growth investor operating across UAE and KSA, comparable in stage focus, regional mandate, and direct-investment model to Merak's VC arm.
• STV (Saudi Technology Ventures): One of Saudi Arabia's largest VC managers, directly comparable as a CMA-licensed venture investor deploying growth capital into Saudi tech founders across multiple sectors.
• Wa'ed Ventures: Saudi Aramco's venture capital arm, comparable as a Saudi-anchored VC backing early-to-growth-stage startups across fintech, enterprise, and digital health.
• Impact46: Saudi private equity and venture investor; co-invested with Merak on multiple gaming studios (Starvania, Fahy), making it a directly comparable PE/VC peer in KSA.
• Raed Ventures: MENA-focused early-stage VC investing in Saudi and regional tech startups; comparable target market, ticket size, and stage focus to Merak's venture capital strategy.
• Shorooq Investments: UAE-based VC and private credit investor operating across the GCC with multi-fund structures, broadly comparable to Merak's diversified PE/VC/private credit platform.

Broad incumbents

• Sanabil Investments: Saudi Arabia's sovereign VC arm, direct peer in KSA venture investing; co-invested with Merak in Hakeem Health, making it a direct capital partner and most comparable scale peer.
• Saudi Venture Capital Company (SVC): State-backed fund-of-funds and direct VC investor in Saudi Arabia, comparable as a multi-strategy capital allocator supporting the KSA startup ecosystem.

Emerging players

• 500 Global (MENA): Global VC with active MENA operations and accelerator programs; comparable as an early-stage, multi-sector investor with structured programs adjacent to Merak's Exel accelerator.
• Sanabil 500: Joint vehicle between Sanabil and 500 Global backing Saudi pre-seed and seed startups; comparable to Merak's early-stage gaming/health AI bets and an active co-investor alongside Merak (e.g., Hakeem Health).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MerakCapital
• LinkedInlinkedin.com/company/merakcapital

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments36 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Merak Capital