Beam Ventures launches $150 million fund to turn Abu Dhabi into a global gaming hub

The Beam Foundation said it plans to launch Beam Ventures in Abu Dhabi, a $150 million venture fund focused exclusively on gaming.

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 spurring innovation in these fields, Beam Ventures aims to collectively redefine gaming experiences and drive growth within the industry. As the gaming industry continues to evolve, it is organizations like Beam Ventures that have the potential to create change by providing resources for game developers and early-stage startups.

I asked which categories are attractive. In addition to blockchain and artificial intelligence in gaming, the fund said it is also looking at virtual reality and augmented reality in gaming.

An ambitious vision for the future of video games

The fund is driven by a commitment to shaping the future of gaming alongside the next generation of game developers and innovators. In collaboration with partners in Abu Dhabi, Beam Ventures aims to create an environment that fosters talent and elevates Abu Dhabi’s status as a global leader in gaming. In this effort it competes with other wealthy regions of the Middle East, such as Dubai and Riyadh.

Abu Dhabi in the United Arab Emirates is quickly becoming a hotspot for gamers and game developers, with a growing gaming community and transformative initiatives such as the development of an esports island.

Additionally, the Emirate hosts a wide variety of gaming events ranging from summits to tournaments of the world’s biggest games. Beam Ventures is determined to build on this momentum and attract top talent to the region, primarily through its accelerator program.

HE Saeed Al Fazari, executive director of strategic affairs at the Abu Dhabi Department of Culture and Tourism, said in a statement: “Over the past three years, we have built a strong gaming infrastructure in Abu Dhabi, and established a dedicated gaming fund It is a crucial step to ensure this ecosystem continues to thrive. “This initiative aligns perfectly with our Abu Dhabi Gaming efforts, reflecting our commitment to welcoming investment into the gaming industry and highlighting the trust investors have in our ecosystem.”

He added: “We remain deeply committed to attracting and nurturing talent in Abu Dhabi, contributing to the knowledge-sharing economy and driving the growth of the creative industries. “This fund is another step forward in ensuring Abu Dhabi becomes a global center for gaming excellence and innovation.”

Mark Borsten, chief strategy officer at Beam Ventures, said in a statement: “At Beam Ventures, one thing drives us above all else: innovation. Whatever form it takes, innovation has always been our soul and our north star, and that is why we are so delighted to bring our pursuit of innovation to Abu Dhabi, a city that has proven time and time again to share our mentality. “

He added: “We are convinced that Abu Dhabi will be the epicenter of the world’s most exciting and pioneering gaming and technological innovation in the years and decades to come. We have always sought the cutting edge at Beam Ventures and we know that with this collaboration we have found exactly that. We hope other cutting-edge creators and founders will join us on this adventure.”

Beam Ventures Accelerator Program

In line with its mission to cultivate and empower new talent, Beam Ventures will launch an accelerator program, inspired by globally recognized precedents.

This program is designed to support early-stage startups specializing in web3 gaming and artificial intelligence, offering a mix of in-person and remote participation options. The goal of the program is to create a breeding ground for successful startups that will have an impact on the gaming industry and beyond.

The fund does not disclose who its limited partners are at this time and has not yet made any investments. Beam’s executive team previously belonged to Merit Circle. The partners have strong experience in the broader crypto space as VCs and have built multiple successful startups in the space in the past.