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 positioned at the intersection of blockchain, gaming, and artificial intelligence. Stimulating 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’s organizations like Beam Ventures that have the potential to bring change by providing resources for game developers and early-stage startups.
I asked what categories are attractive. In addition to blockchain and AI in gaming, the fund said it is also looking at virtual reality and augmented reality in gaming.
An ambitious vision for the future of gaming
The fund is driven by a commitment to shape the future of gaming together with the next generation of game developers and innovators. In collaboration with partners on the ground in Abu Dhabi, Beam Ventures aims to create an environment that nurtures talent and elevates Abu Dhabi’s status as a global gaming leader. It is competing with other wealthy Middle Eastern regions such as Dubai and Riyadh in this endeavor.
Abu Dhabi in the United Arab Emirates is rapidly becoming a hotspot for gamers and game developers, with a growing community of players and transformative initiatives like the development of an esports island.
Moreover, the Emirate hosts a wide variety of gaming events ranging from summits to tournaments of the biggest games in the world. Beam Ventures is determined to build on this momentum and attract top talent to the region, mainly through its accelerator program.
HE Saeed Al Fazari, strategic affairs executive director at the Department of Culture and Tourism – Abu Dhabi, said in a statement, “Over the past three years, we have built a robust gaming infrastructure in Abu Dhabi, and establishing a dedicated gaming fund is a crucial step in ensuring that this ecosystem continues to thrive. This initiative aligns seamlessly with our Abu Dhabi Gaming efforts, reflecting our commitment to welcoming investments in the gaming industry and highlighting the trust and confidence 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 hub 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. In whatever form it might take, innovation has always been our lifeblood and our North Star – and that’s why we are so delighted to be bringing our pursuit of innovation to Abu Dhabi, a city that has shown itself time and again to share our mindset.”
He added, “We’re convinced that Abu Dhabi is set to be the epicenter of the world’s most exciting, pioneering tech and gaming innovation for 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 look forward to other cutting-edge creators and founders joining us on this adventure.”
Beam Ventures accelerator program
In alignment 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 AI, offering a combination of in-person and remote participation options. The goal of the program is to create a breeding ground of successful startups that will impact the gaming industry and beyond.
The fund is not disclosing who its limited partners are at the time, and it has not made any investments yet. The executive team of Beam is formerly from Merit Circle. The partners have a strong background in the crypto space in general as VC and have built multiple successful start-ups in the space in the past.
