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The Beam Foundation is set to unveil Beam Ventures in Abu Dhabi, a dedicated venture fund with a budget of $150 million tailored specifically for the gaming sector.
This fund aspires to fast-track the success of emerging founders and play a pivotal role in establishing Abu Dhabi as a preeminent global gaming hub.
Beam Ventures strategically aligns itself at the confluence of blockchain technology, gaming, and artificial intelligence. By promoting innovation across these dynamic fields, the fund aims to reshape gaming experiences and foster industrial growth. As the gaming landscape continues to shift, initiatives like Beam Ventures hold the promise of enhancing resources available to game developers and nascent startups.
When discussing which categories are appealing, Beam Ventures highlighted its interest not only in blockchain and AI applications within gaming but also in exploring possibilities within virtual and augmented reality aspects of the industry.
An ambitious vision for the future of gaming
Beam Ventures commits to investing $150 million in innovative game startups.
The fund is fueled by a vision to co-create the future of gaming alongside the next wave of game developers and innovators. Through partnerships cultivated in Abu Dhabi, Beam Ventures aims to foster a talent-friendly environment and elevate the Emirate’s position as a worldwide gaming leader, directly competing with affluent regions like Dubai and Riyadh.
Abu Dhabi is on the rise as a vibrant center for gamers and developers, featuring a robust community and progressive initiatives such as the construction of an esports island.
Additionally, the Emirate hosts an array of gaming events, including high-profile summits and tournaments showcasing popular global games. Beam Ventures is keen to capitalize on this momentum by attracting premier talent, primarily via its accelerator program.
HE Saeed Al Fazari, executive director for strategic affairs at the Department of Culture and Tourism – Abu Dhabi, emphasized the significance of the gaming fund, saying, “Over the past three years, we have laid the groundwork for a strong gaming infrastructure in Abu Dhabi, and launching a dedicated gaming fund is a crucial step in ensuring that this ecosystem continues to evolve. This initiative is in perfect alignment with our Abu Dhabi Gaming ambitions, showcasing our dedication to facilitating investments in the gaming sector and reinforcing the confidence investors have in our ecosystem.”
He further noted, “We remain deeply committed to attracting and nurturing talent in Abu Dhabi, enhancing the knowledge-sharing economy, and advancing the growth of creative industries. This fund is yet another stride towards positioning Abu Dhabi as a global beacon of gaming excellence and innovation.”
Mark Borsten, the chief strategy officer at Beam Ventures, stated, “At Beam Ventures, our primary focus is on innovation. No matter the form it takes, innovation has always been our lifeblood and guiding principle – which is why we are thrilled to bring our innovative spirit to Abu Dhabi, a city that consistently shares our forward-thinking mindset.”
He added, “We firmly believe that Abu Dhabi is poised to become the epicenter of groundbreaking tech and gaming innovations for the foreseeable future. At Beam Ventures, we continuously seek cutting-edge advancements – and we are confident that with this collaboration, we have found exactly that. We eagerly await the participation of other visionary creators and founders on this exciting journey.”
Beam Ventures accelerator program
Aligning with its objective to foster new talent, Beam Ventures plans to initiate an accelerator program, inspired by globally recognized models.
This initiative aims to assist early-stage startups engaged in web3 gaming and artificial intelligence, offering both in-person and virtual participation options. The program aspires to cultivate a thriving ecosystem of successful startups poised to impact not only the gaming sector but also adjacent industries.
While the specifics of its limited partners remain undisclosed, the executive team at Beam Ventures comprises individuals with reputable backgrounds from Merit Circle and a wealth of experience in the cryptocurrency sector, having established several successful ventures in the past.
Source
venturebeat.com