Saudi-backed entity acquires additional 5% stake in Capcom, bringing total holdings over 10%
Saudi-linked funds now hold over 10% of Capcom.
As reported by gamebiz.jp, Saudi Arabia’s Electronic Gaming Development Company (EGDC) has acquired 26,788,500 shares in Capcom, representing approximately 5.03% of the publisher behind major franchises such as Resident Evil, Monster Hunter, and Street Fighter.
EGDC is also the fund that acquired a majority stake in SNK in 2022, effectively taking control of the studio behind iconic fighting game franchises such as The King of Fighters, Fatal Fury, and Metal Slug.
EGDC is a state-linked investment entity connected to Saudi Arabia’s strategic expansion in the gaming sector. It is a subsidiary of the Misk Foundation, also known as the Mohammed bin Salman Foundation, established by the Saudi Crown Prince–the figure behind initiatives such as the Esports World Cup, Savvy Games Group (which acquired ESL FACEIT), and large-scale developments like the entertainment hub Qiddiya City.
In 2022, Saudi Arabia’s Public Investment Fund (PIF) also acquired around 5% of Capcom’s shares. While this stake and EGDC’s purchase are recorded separately, it means that Saudi Arabia now collectively own just over 10% of Capcom.
This could potentially grow over time, as Saudi Arabia continues to increase its holdings–mirroring the path of their SNK acquisition, which began with a minority stake and eventually resulted in full ownership.
Saudi Arabia continues to expand its gaming acquisitions
Saudi Arabia has been aggressively expanding its investments across the entertainment sector, particularly in sports and gaming. Some critics and activists have described these efforts as part of a broader strategy of “sportswashing” aimed at improving the country’s global image, which has been marred by human rights issues.
One of the most notable developments is the reported US$55 billion buyout of Electronic Arts by a Saudi-led consortium, which, if completed, would place major franchises such as The Sims, FIFA, and Battlefield under its ownership. The deal remains ongoing and, if finalised, would mark the largest private equity buyouts in the gaming industry.
