The Beam Foundation announced its plan to launch Beam Ventures in Abu Dhabi, a $150 million venture fund dedicated to gaming.
This gaming fund is aimed at supporting promising founders and contributing to Abu Dhabi’s goal of becoming a global gaming hub.
Beam Ventures operates at the intersection of blockchain, gaming, and artificial intelligence, with a focus on stimulating innovation in these areas to redefine gaming experiences and drive industry growth. As the gaming industry evolves, organizations like Beam Ventures play a crucial role in providing resources for game developers and startups.
Aside from blockchain and AI, the fund is also interested in virtual reality and augmented reality within the gaming sector.
An ambitious vision for the future of gaming
Beam Ventures will invest $150 million in game startups.
The fund is committed to shaping the future of gaming in collaboration with the next generation of developers and innovators. Working with partners in Abu Dhabi, Beam Ventures aims to create an environment that fosters talent and enhances the city’s status as a global gaming leader, competing with other wealthy Middle Eastern regions like Dubai and Riyadh.
Abu Dhabi is emerging as a hotspot for gamers and developers, with a growing community and initiatives like the development of an esports island. The city hosts various gaming events, from summits to tournaments of popular games, and Beam Ventures aims to capitalize on this momentum through its accelerator program.
HE Saeed Al Fazari, from the Department of Culture and Tourism – Abu Dhabi, stated, “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.”
“We remain committed to attracting and nurturing talent, contributing to the knowledge-sharing economy, and driving the growth of creative industries. This fund marks another stride towards making Abu Dhabi a global hub for gaming excellence and innovation.”
Mark Borsten, Chief Strategy Officer at Beam Ventures, expressed excitement about bringing innovation to Abu Dhabi, emphasizing the city’s potential for tech and gaming innovation.
Beam Ventures accelerator program
Beam Ventures will launch an accelerator program to cultivate new talent, drawing inspiration from global precedents. The program will support early-stage startups in web3 gaming and AI, with both in-person and remote participation options to foster successful startups that will impact the gaming industry.
The fund has not disclosed its limited partners yet and has not made any investments. The executive team at Beam has a strong background in the crypto space and has built successful startups in the past.
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FAQs
What is Beam Ventures?
Beam Ventures is a $150 million venture fund focused on gaming, aiming to support promising founders and contribute to Abu Dhabi’s transformation into a global gaming hub.
What areas does Beam Ventures focus on?
Beam Ventures operates at the intersection of blockchain, gaming, and artificial intelligence, stimulating innovation in these fields to redefine gaming experiences and drive industry growth.
What is the Beam Ventures accelerator program?
The accelerator program by Beam Ventures supports early-stage startups in web3 gaming and AI, offering in-person and remote participation options to create successful startups that impact the gaming industry.
Who is behind Beam Ventures?
The executive team at Beam Ventures has a strong background in the crypto space and has previously built successful startups, although the fund has not disclosed its limited partners yet.
Credit: venturebeat.com
