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  2. Beam Ventures launches $150mn gaming fund

Beam Ventures launches $150mn gaming fund

GHADA.ISMAIL
Dec 12, 2024
Beam Ventures will also launch an accelerator program as part of the fund

Dubai – Sharikat Mubasher: Beam Foundation announced plans to launch Beam Ventures, a $150 million web3 AI gaming fund and accelerator that’s based in Abu Dhabi.

The company has joined forces with Abu Dhabi to create an environment that nurtures talent and elevates Abu Dhabi’s status as a global gaming leader, as per an official announcement. The fund also targets opportunities in the burgeoning VR and AR in gaming.

According to a press release published by Abu Dhabi Global Market (ADGM), Beam Ventures will also launch an accelerator program as part of the fund, with the goal of creating a “breeding ground for successful startups that will impact the gaming industry and beyond.”

Beam Ventures did not reveal its limited partners in the fund at the time and has not made investments in the fund yet.

Commenting on the partnership, 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 established a dedicated gaming fund is a crucial step in ensuring that this ecosystem continues to thrive.”

According to Al Fazari, the fund will play a crucial part in ensuring Abu Dhabi becomes a global hub for gaming excellence and innovation.

Mark Borsten, chief strategy officer at Beam Ventures highlighted innovation as the one thing that drives the firm. He said: “In whatever form it might take, innovation has always been our lifeblood and our North Star – and that’s why we are so delighted to be bringing our pursuit of innovation to Abu Dhabi, a city that has shown itself time and again to share our mindset.”

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Riyadh - Sharikat Mubasher: Total venture capital (VC) funding in the Middle East surged to $3.4 billion in 2025, marking an 89% year-on-year (YoY) increase, according to the ‘2025 State of Venture Capital Emerging Venture Markets FY 2025’ report released by MAGNiTT.The region also posted the highest deal activity among emerging venture markets, with 581 deals, showing a 13% YoY rise.Saudi Arabia recorded the strongest growth among the region’s most active countries, with funding soaring 145% YoY to $1.72 billion, strengthening its role as a scale engine. The UAE secured the second-largest share of VC funding at $1.57 billion across 231 deals.Further, the Kingdom became MENA's most active market for the first time with 257 deals, marking a 45% YoY increase, driven by strong investment sentiment and government initiatives, notably Vision 2030.By sector, fintech remained the most-funded industry in the Middle East, attracting $1.04 billion across 152 deals, followed by the e-commerce industry, which raised $494 million in VC funding.Philip Bahoshy, CEO and Founder of MAGNiTT, commented: “Venture and broader private capital became more selective, and due diligence conversations have moved away from momentum towards fundamentals, scale, and clear paths to liquidity. In that environment, the Gulf Cooperation Council (GCC) region proved resilient and increasingly positioned itself as a destination for long-term capital. Throughout 2025, the region saw international investors from North America, Europe, and Asia continue to deepen their presence in the region across Private Capital. They were drawn by policy consistency, economic ambition, and sustained investment in infrastructure.”He further noted that VC funding in the MENA region totaled $3.8 billion across 688 deals, a 74% increase along with a 6% rise in deal flow.
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