Beam Ventures has announced the launch of a $150 million gaming-focused venture fund in Abu Dhabi, aiming to position the Emirate as a global gaming hub. The fund, spearheaded by the Beam Foundation, seeks to accelerate growth for promising gaming startups and foster innovation in blockchain, artificial intelligence (AI), virtual reality (VR), and augmented reality (AR) within the gaming industry.

Beam Ventures Launches $150 Million Gaming Fund

$150 Million Gaming Fund

Abu Dhabi, already a burgeoning center for gaming, is building momentum with initiatives such as an esports island and hosting international gaming events. Beam Ventures is poised to build on this foundation, leveraging its strategic focus at the intersection of gaming and cutting-edge technologies.

The fund aligns with Abu Dhabi’s broader vision to attract and nurture talent, contributing to a knowledge-based economy and expanding its creative industries. This is reinforced by a growing community of gamers, game developers, and robust infrastructure investments in the region.

HE Saeed Al Fazari, strategic affairs executive director at the Department of Culture and Tourism – Abu Dhabi, emphasized the importance of this initiative, stating that the fund complements ongoing efforts under the Abu Dhabi Gaming program. “This fund is another step forward in ensuring Abu Dhabi becomes a global hub for gaming excellence and innovation,” he said.

Beam Ventures Launches $150 Million Gaming Fund

Beam Ventures Accelerator Program

In line with its mission, Beam Ventures is launching an accelerator program tailored for startups specializing in web3 gaming and AI. The program will offer a mix of in-person and remote participation, fostering an environment that nurtures early-stage startups to thrive.

The accelerator’s design draws inspiration from successful global models and aims to serve as a launchpad for startups that will redefine the gaming industry. Beam Ventures’ executive team, with a strong background in crypto and venture capital, brings extensive experience in building successful startups to the initiative.

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Competitive Landscape and Strategy 

Beam Ventures’ efforts come amid competition from other Middle Eastern hubs like Dubai and Riyadh, which are also investing in the gaming and technology sectors. However, Abu Dhabi’s unique combination of community support, infrastructure, and targeted investment positions it as a strong contender in the race to become a global leader in gaming innovation.

Mark Borsten, chief strategy officer at Beam Ventures, highlighted the focus on innovation that drives the organization. “Innovation has always been our lifeblood and our North Star,” Borsten said. He expressed confidence that Abu Dhabi will become a global epicenter for tech and gaming advancements in the coming years, drawing talent and groundbreaking ideas to the region.

Looking Ahead

While the fund has yet to disclose its limited partners or make its first investments, it signals a significant step in advancing the gaming ecosystem in Abu Dhabi. With a focus on web3 technologies, blockchain, AI, VR, and AR, Beam Ventures aims to transform the industry and position Abu Dhabi as a beacon for innovation and talent in gaming.

Source: GamesBeat