The Beam Foundation said it plans to launch Beam Ventures, a $150 million venture fund focused on gaming, in Abu Dhabi.
The gaming fund aims to accelerate promising founders and contribute to Abu Dhabi’s transformation into a global gaming hub.
Beam Ventures is strategically located at the intersection of blockchain, gaming, and artificial intelligence. By stimulating innovation in these areas, Beam Ventures aims to collectively redefine the gaming experience and drive growth within the industry. As the gaming industry continues to evolve, organizations like Beam Ventures have the potential to make a difference by providing resources to game developers and early-stage startups.
We asked them what kind of categories they found attractive. In addition to blockchain and AI in gaming, the fund said it is also focusing on virtual reality and augmented reality in gaming.
An ambitious vision for the future of gaming
The fund is driven by a commitment to shaping the future of gaming with the next generation of game developers and innovators. Beam Ventures aims to work with local partners in Abu Dhabi to create an environment that nurtures talent and enhances Abu Dhabi’s position as a global gaming leader. The initiative competes with other wealthy Middle Eastern regions such as Dubai and Riyadh.
Abu Dhabi, United Arab Emirates, is rapidly becoming a hotspot for gamers and game developers, with a growing community of players and transformative initiatives such as the development of an esports island.
Additionally, the emirate hosts a variety of gaming events, from summits to the world’s biggest gaming tournaments. Beam Ventures is determined to build on this momentum and attract top talent to the region, primarily through accelerator programs.
His Excellency Saeed Al Fazali, Executive Director of Strategy at Abu Dhabi Department of Culture and Tourism, said in a statement: This is an important step to ensure this ecosystem continues to thrive. This initiative aligns seamlessly with our commitment to Abu Dhabi Gaming, and our commitment to welcoming investment into the gaming industry and highlighting the trust and confidence investors have in our ecosystem. is reflected. ”
He added: “We remain committed to attracting and developing talent in Abu Dhabi, contributing to the knowledge-sharing economy and fostering the growth of the creative industries. This is another step towards ensuring that we become a global hub for the world.”
Mark Borsten, chief strategy officer at Beam Ventures, said in a statement: Innovation, in whatever form it takes, has always been our lifeblood and our north star. That’s why we’re thrilled to bring our pursuit of innovation to Abu Dhabi, where we have shown up time and time again to share our ideas. ”
He added: “We are confident that Abu Dhabi will be the world’s most exciting and pioneering technology and gaming innovation hub for years and decades to come. We’ve been looking for the cutting edge, and we’re confident we’ve found just that with this collaboration. We look forward to other cutting-edge creators and founders joining us on this adventure.”
Beam Ventures Accelerator Program
In line with its mission to cultivate and empower new talent, Beam Ventures is launching an accelerator program inspired by globally recognized precedents.
The program is designed to support early-stage startups focused on Web3 gaming and AI, and offers a mix of in-person and remote participation options. The goal of this program is to create a breeding ground for successful startups that will impact not only the gaming industry but also beyond.
The fund has not disclosed its limited partners at this time and has not yet made any investments. Beam’s management team is originally from Merit Circle. Our partner has a strong background in the virtual currency field as a VC, and has successfully launched multiple startup companies in this field in the past.
