Beam Ventures Announces $150 Million Fund to Make Abu Dhabi a Global Gaming Leader
Beam Ventures has recently unveiled a $150 million fund with the goal of establishing Abu Dhabi as a prominent player in the global gaming industry. This initiative marks the first gaming-focused fund introduced by the Abu Dhabi Global Market (ADGM) and is part of a series of major projects announced by Beam Ventures.
Support for Innovation in Web3 Gaming, AI, and VR/AR
The fund will provide support to startups in the fields of web3 gaming, artificial intelligence (AI), virtual reality (VR), and augmented reality (AR). Additionally, the fund includes the launch of a web3 gaming accelerator, which is anticipated to begin accepting applications in early 2025.
Beam’s Global Expansion Strategy
With the $150 million investment, Beam Ventures aims to attract top talent to Abu Dhabi and collaborate with local partners such as Sophon and Aethir Cloud to cultivate a robust gaming ecosystem. Abu Dhabi has already made a name for itself as a hub for gaming events like esports tournaments and summits, and Beam’s fund is set to build upon this momentum.
According to Mark Borsten, Chief Strategy Officer at Beam Ventures, “We’re confident that Abu Dhabi is poised to become the epicenter of cutting-edge tech and gaming innovation globally. With this collaboration, we are certain that we have found the perfect opportunity to lead in this space.”
Accelerator Program for Early-Stage Startups
The accelerator program initiated by Beam Ventures will offer startups valuable resources and mentorship. Specifically designed for early-stage companies in blockchain, gaming, and AI, the program allows founders to participate either in person or remotely, making it accessible to talent worldwide.
Saeed Al Fazari, Strategic Affairs Executive Director at the Department of Culture and Tourism, expressed, “This fund represents a significant leap forward in positioning Abu Dhabi as a global center for gaming excellence and innovation.”
Additional Projects by Beam Ventures
- BeamAI: Self-Learning AI Agents – Beam’s new AI division, led by a University of Oxford-trained mathematician, focuses on creating self-learning AI agents to manage operations efficiently.
- Beam L1: Blockchain Upgrades – Beam is enhancing its blockchain infrastructure with the Avalanche Etna upgrade, making launching a Layer 1 blockchain more cost-effective and reducing fees on Avalanche’s C-Chain significantly.
- Beam Nodes: Validator Incentives – Beam will introduce a grant program for validators to attract developers and enhance the network’s security and scalability.
About Beam
Beam, a gaming subnet established by Merit Circle DAO, has evolved into a comprehensive gaming ecosystem providing essential tools, APIs, wallets, bridges, and analytics optimized for game-heavy workloads. This ensures seamless transactions and minimal fees, making it ideal for web3 gaming.
Beam powers on-chain games like Trial Xtreme, Walker World, and Hash Rush on the Avalanche Subnet, combining blockchain, gaming, and AI to create new opportunities for builders and players.
Looking Ahead
With these significant projects in motion, Beam Ventures is paving the way for the future of gaming. The web3 gaming accelerator is set to open in 2025, the AI division will release its first research paper, and the blockchain upgrades will enhance Beam’s network performance and affordability.
Beam Ventures’ $150 million fund positions Abu Dhabi at the forefront of the web3 gaming industry, emphasizing innovation and strong partnerships to lead the next wave of gaming advancements.
