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.
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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.
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