Fundraising Fox
Exel by Merak
AcceleratorRiyadh · Seed–Growth · 13 people tracked
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Investment thesis
Exel by Merak operates a portfolio of accelerators, incubators, and innovation programs designed to guide startups from early validation to scale. Its approach follows a disciplined execution model emphasizing structure, accountability, and measurable outcomes. Programs begin by aligning on objectives, stakeholders, and success metrics, then build a tailored architecture covering journeys, milestones, curriculum, and partner inputs. Delivery is run through structured sprints with hands-on support and consistent governance, while progress is tracked against milestones with real-time reviews and iteration. The firm also provides continuity pathways via ecosystem connections and partner access so that impact endures beyond program completion.
Source: firm website, verified Aug 27, 2026.
Team · 13 people
from the firm's website & curated
Abdullah Altamami co-founded Merak Capital in 2018 with Othman Alhagail and Abdulrahman bin Muteb, where the firm launched venture capital and private equity funds. In 2014 he founded the iNet fund, an institutional early-stage technology VC fund owned by Integrated Networks Company, serving as its managing director. Earlier in his career he worked with Merrill Lynch and Cisco Capital in the United States and with Jadwa Investment in Saudi Arabia, and he holds a master's in technology management and a bachelor's in computer science from the University of Miami.
Faisal Sedrani is CEO of Exel, where he works on building scalable startup ecosystems in Saudi Arabia and designing innovation programs that help startups enter the Saudi market. He is co-founder of Smart Deer Co., an EnvoTech robotics company addressing desertification, and founder of Jewelern, a digital jewelry brand, and previously held a leadership role at AstroLabs supporting global entrepreneurs entering the Saudi market. He holds an MBA in Marketing Intelligence and Big Data from the University of Gloucestershire, a bachelor's in architecture from King Saud University, and PMP and CMI certifications.
Othman Alhokail is a co-founder, vice chairman, and shareholder at Merak Capital, with over 18 years of experience across technology and investment gained through work with government and private entities. He founded and manages KCC Group, a holding company focused on technical contracting and trade serving public and semi-governmental clients in Saudi Arabia. He previously led business development for EY and Thomson Reuters in Saudi Arabia, and holds a BA in Finance from King Saud University and an MBA from the University of Wisconsin.
Abdulelah Alshareef is a Vice President at Merak Capital, where he leads the Venture Capital team and helps shape and execute the firm's VC investment strategy. He has experience in the technology and telecommunications sectors. He earned a Bachelor's degree in Electrical and Electronics Engineering from King Saud University.
Rema Alyahya is VP of venture capital portfolio management at Merak Capital, where she leads post-investment strategy and execution across the firm's venture funds, overseeing portfolio company performance, reporting, and follow-on rounds for more than 30 companies. Before Merak, she was head of strategy at SRMG and later helped launch and run operations at SRMG Ventures. Earlier in her career she worked at Boston tech companies including Wise Systems and SmartBear Software, and she holds a BS in business administration (entrepreneurship and new venture management) from Northeastern University.
Adham Elsawy is a Finance Manager who provides advisory support to startups and growth-stage companies through accelerator programs in Saudi Arabia, including Merak Capital's Exel Accelerator, Plug & Play, and VMS. He previously served as CFO at Walaplus and oversaw financial operations at Steer Studios, a gaming subsidiary of SAVVY, where he handled budgeting, P&L modeling, and financial governance alignment.
Afaf Abu Sabha has a background in event coordination, marketing, and guest engagement, having supported large-scale events and conferences with several agencies. In her role as Executive Assistant, she supports daily operations and team functions.
Deema Almutairi is an Associate whose work centers on talent development and innovation. She designs and delivers programs in startup enablement, program design, and community building, focusing on developing skills and creating opportunities for emerging innovators.
Faisal Al Tamami is a Computer Science graduate of Prince Sultan University working as an IT Innovation Platform Specialist with experience in AI, cybersecurity, and IT solutions. He has worked with MasterWorks, Qoyod, and Merak Capital, helping startups and organizations build and scale technology solutions.
Faisal Alsharari works on startup growth and ecosystem development. He co-developed the Middle East's first Metaverse Academy in collaboration with Meta and Tuwaiq Academy, and developed skills through the Misk SPARK Fellowship and Startup School in areas including business modeling, MVPs, and fundraising. He focuses on supporting founders and the technology sector in Saudi Arabia.
Kassandra Attara leads innovation programs across the MENA region, focusing on growth and transformation initiatives. She has prior experience at Astro Labs and MIT Enterprise Forum Pan Arab, with expertise in program design, stakeholder management, and innovation-led growth.
Mohammed Abu Jubara is an industrial engineer with over eight years of experience focused on strategic planning, technical project definition, and data-driven market reporting. His work centers on connecting technical expertise with strategic value.
Expert in portfolio monitoring and investment analytics; supports investment decision-making.
What they invest in
from 1 of 2 portfolio companiesGaming ×1
HQs:Saudi Arabia×1
Portfolio companies · 2 tracked
alumni founders can tell you what the program is really likeSaudi-based, Arabic-first fantasy football and predictor games platform covering the Saudi, English, Spanish and Champions Leagues.
Co-investorsMerak Capital
Evolite Studio is a game development studio that builds original games with an Arabic cultural flavor.
Gaming
Co-investorsMerak Capital
Frequently asked questions
- What stage does Exel by Merak invest at?
- Exel by Merak invests at the Seed, Series A, Series B, Growth stages.
- What sectors does Exel by Merak focus on?
- Exel by Merak focuses on AI & Machine Learning, Cloud Computing, Creator Economy, Data & Infrastructure, Fintech, Gaming, Media & Entertainment, Sector Agnostic.
- Where is Exel by Merak located?
- Exel by Merak is headquartered in Riyadh, SA.
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