Investment of $150M by Beam Ventures at the crossroads of blockchain, gaming, and artificial intelligence
Beam Ventures, a leading venture capital firm, has announced a new fund targeting early-stage startups in the intersection of gaming, artificial intelligence (AI), and blockchain technology. The fund, valued at $150 million, aims to position Abu Dhabi as a global leader in these emerging technologies.
Mark Borsten, the chief strategy officer at Beam Ventures, emphasizes innovation as the driving force for the firm. He believes that Abu Dhabi is well-positioned to become the epicenter of the world's most exciting, pioneering tech and gaming innovation.
The fund will focus on supporting startups in Web3 gaming, AI, and blockchain technologies. Al Fazari, a prominent figure in Abu Dhabi, believes that this initiative aligns with the Abu Dhabi Gaming efforts, reflecting the state's commitment to welcoming investments in the gaming industry.
In addition to the fund, Beam Ventures plans to run an accelerator program aimed at fostering innovation within these sectors. While specific details of the accelerator program are not fully elaborated, it is typical for such programs to provide startups with mentorship, resources, and market access to accelerate their development and adoption of new gaming, AI, and blockchain technologies.
The fund also targets opportunities in the burgeoning virtual reality (VR) and augmented reality (AR) in gaming. The accelerator program will allow teams to participate via a combination of in-person and remote options, providing flexibility for startups from around the world.
No specific details about the limited partners of the fund have been disclosed by Beam Ventures. However, the fund is being created in partnership with Abu Dhabi to nurture talent and elevate Abu Dhabi’s status as a global gaming leader.
According to Al Fazari, the fund will play a crucial role in making Abu Dhabi a global hub for gaming excellence and innovation. He believes that the establishment of a dedicated gaming fund is a crucial step in ensuring that the gaming ecosystem in Abu Dhabi continues to thrive.
In conclusion, Beam Ventures' $150 million fund represents a significant investment in the future of gaming, AI, and blockchain technologies. By providing startups with the resources they need to innovate and grow, the fund aims to establish Abu Dhabi as a global technology and innovation hub in these areas.
- The new Beam Ventures fund, focusing on Web3 gaming, AI, blockchain, VR, and AR, will contribute to the community of pioneering tech and gaming startups in Abu Dhabi, potentially making it a global hub for future news in finance and investing related to these technologies.
- With the launch of their accelerator program, Beam Ventures is investing in the future of the technology sector, particularly in gaming, AI, and blockchain, fostering innovation and attracting investment, ultimately positioning these startups for successful adoption in the global finance and investing market.
