It's Cairo Angel's second big investment in the gaming industry and its 18th investment overall.
If there's a product that we consume the most and produce the least, it's games. Egyptians - and Arabs alike - have been diagnosed as gaming addicts since the days of Doom and GTA 2. And like any addict left untreated, are always on the hunt for newer and more engaging ones, recently moving towards mobile games, an industry worth almost $37 billion.
Stepping up to boost the regional industry is Cairo Angels, who have just announced their investment in the Amman-based startup Play 3arabi Games Publisher, whose mission is publishing advanced high-tech games especially localized for Arabic markets. "We see the games market as an attractive one and while there are many startups in this area, we have been very selective in our approach. We are active on the board of our portfolio companies and work closely with them to facilitate their progress and success,” says Aly El Shalakany, chairman of Cairo Angels, as he explains the reasons behind Cairo Angel's second big investment in the gaming industry.
Since its inception in 2012, the Cairo Angels forum of investors has injected more than GDP 11 million in 15 startups in Egypt and the region, encouraging and supporting a wave of entrepreneurial brilliance that's sweeping the carpet from beneath traditional businesses. Choosing to invest in Play 3arabi stems from deep understanding and belief in the quality and process of Play 3arabi's team, Shalakany explains. "We particularly liked Play 3arabi’s business model of selecting globally successful games and addressing their language and cultural gaps in order to make them fit for the region. This process of localization is highly specialized and Play 3arabi’s team demonstrates great understanding and abilities in this critical area.”