The Beam Foundation has announced the launch of Beam Ventures, a $150 million venture fund in Abu Dhabi, focusing on gaming, blockchain, and artificial intelligence.
This fund aims to accelerate promising startups and help transform Abu Dhabi into a global gaming hub. It will also explore opportunities in virtual and augmented reality.
Beam Ventures seeks to nurture talent and elevate Abu Dhabi's gaming industry, competing with other Middle Eastern regions like Dubai and Riyadh. The Emirate is rapidly becoming a hotspot for gamers, supported by various gaming events and initiatives.
HE Saeed Al Fazari from the Department of Culture and Tourism - Abu Dhabi emphasized the importance of the fund in fostering a thriving gaming ecosystem and attracting investments.
Mark Borsten, chief strategy officer at Beam Ventures, highlighted their commitment to innovation and the belief that Abu Dhabi will be at the forefront of tech and gaming advancements.
The fund will also launch an accelerator program aimed at supporting early-stage startups in web3 gaming and AI, with both in-person and remote participation options.
Details about the fund's limited partners and initial investments have not yet been disclosed.