The Beam Foundation has just announced the launch of Beam Ventures — a multi-million dollar fund focussed exclusively on gaming — in Abu Dhabi
Background
- The $150 million fund aims to help gaming project founders contribute to Abu Dhabi’s transformation into a global gaming hub
- Abu Dhabi has chosen Beam to fuel and shape its future of gaming
- Beam Ventures is the first gaming-focused 'qualified investor' fund in Abu Dhabi, scripting history
Why should you pay attention?
- Beam is already strategically positioned at the intersection of blockchain, gaming, and artificial intelligence [AI]
- By launching the fund, it’d end up stimulating innovation in these fields
- In retrospect, this would help redefine gaming experiences and drive growth within the industry
- In collaboration with partners on the ground, Beam Ventures is looking to enhance Abu Dhabi’s status as a global gaming leader
Who said what?
- HE Saeed Al Fazari, Strategic Affairs Executive Director at the Department of Culture and Tourism, Abu Dhabi, said,
“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”
- Meanwhile, Beam’s Chief Strategy Officer Mark Borsten said,
“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”
Zooming out
- To help empower new talent, empower new talent, Beam Ventures will also be launching an accelerator program
- Early-stage startups specializing in web3 gaming and AI will be supported via this initiative
- Infra partners include Sophon and Aethir
- The team also rolled out BeamAI, Beam's new AI division
