Twofour54 announced new venture capital investment deals with two of the region’s leading Arabic online games companies, Tahadi Games and Jawaker.
Gartner exptects gaming industry to witness huge growth in the coming years and Twofour54 believes that these investments will go a long way in developing indigenous digital gaming industry in the region. The new agreements will help boost the development of a gaming cluster in Abu Dhabi, strengthening twofour54’s position as the region’s leading centre for game development in the Arab world.
Commenting on the new investment deals, Wayne Borg, Deputy CEO and Chief Operating Officer at twofour54, said: “Gaming represents a huge area of growth and these investments, with two of the region’s most promising companies, clearly shows twofour54’s commitment to supporting the development of an Arabic gaming industry.”
Tahadi was established in 2008 by the founders and previous owners of Maktoob.com, the region’s biggest Arabic language portal, which was recently purchased by Yahoo. Tahadi aims to be the region’s leading online games publisher for client and browser based massive multiplayer online (MMO) games that target the Middle East.
Jawaker, launched in April of 2009, is a multiplayer card gaming website developed especially for the Middle East and North Africa (MENA) region. Jawaker serves over 17 million page views per month, and currently has approximately 100,000 visitors per month.
twofour54 ibtikar supports creative entrepreneurship through venture capital funding and operational support for start-up and early stage businesses and talented young Arabs across the Middle East and North Africa. twofour54 ibtikar investment activities focus on Arabic content creation businesses and creative individuals or entrepreneurs.