Abu Dhabi is planning to launch a $150 million investment fund called “Beam Ventures Fund” dedicated solely to electronic games.
The fund aims to enhance Abu Dhabi’s role as a hub for electronic games in the region, which contributes to accelerating the growth rate of emerging companies in the fields of Web 3 games that rely on artificial intelligence technologies.
Tribe Techie learnt that the launch contributes to establishing a 12-week accelerated program for startups so that they can participate in this program remotely, which enhances their ability to grow in this promising sector.
Mark Bursten, Head of Strategy at Beam Ventures, confirmed that the fund is intended for a period of 3 to 5 years, targets a broader base of investors, and contributes to building a local ecosystem in Abu Dhabi.
For his part, Saeed Al Fazari, Executive Director of Strategic Affairs at the Department of Culture and Tourism – Abu Dhabi, explained that the department has worked to build an infrastructure for electronic games in Abu Dhabi over the past three years, considering that the establishment of a dedicated fund for games is a crucial step to ensure the continued growth of this ecosystem.
Aside from the Beam Ventures Fund, Abu Dhabi is targeting the development of a $1 billion gaming island, led by True Gamers.
