Lumikai Launches $50 Million Fund II to Invest in Indian Gaming and Interactive Media Ventures
- ByStartupStory | June 23, 2023
Lumikai, a gaming-focused venture capital fund, today announced the launch of its second fund, Lumikai Fund II. The fund has a target corpus of $50 million and has already completed its oversubscribed first close.
Lumikai Fund II will invest in pre-seed to series A rounds in Indian gaming and interactive media ventures. The fund will focus on five key thesis areas: gaming content, original IP and digital media, creator economy, and gaming tech.
“We are excited to launch Lumikai Fund II and continue to invest in the Indian gaming ecosystem,” said Salone Sehgal, Founding General Partner at Lumikai. “We believe that India is one of the most exciting gaming markets in the world, and we are committed to backing category-leading bets in the space.”
Lumikai’s portfolio startups from Fund I include Bombay Play, Loco, Elo Elo, Studio Sirah, and others. The fund has also made investments in gaming tech startups such as LucidSight and Fractal.
“We are seeing a lot of momentum in the Indian gaming ecosystem,” said Justin Keeling, Founding General Partner at Lumikai. “There is a growing pool of talented entrepreneurs, a large and engaged gaming audience, and a supportive government. We are confident that Lumikai Fund II will help to accelerate the growth of the Indian gaming industry.”
Lumikai Fund II has attracted investments from a diverse group of investors, including marquee names from gaming, technology, and media. The fund’s investors include Krafton, Colopl, Supercell, Mixi, Nazara, Ben Feder, Jon Vlassopulos, and others.
Lumikai Fund II is expected to make its first investments in the coming months. The fund is open to investment opportunities across the country, but it will focus on startups based in India’s major gaming hubs, such as Bengaluru, Mumbai, and Delhi.
About Lumikai
Lumikai is a gaming-focused venture capital fund based in Chennai, India. The fund was founded in 2018 by Salone Sehgal and Justin Keeling. Lumikai invests in pre-seed to series A rounds in Indian gaming and interactive media ventures. The fund’s focus areas include gaming content, original IP and digital media, creator economy, and gaming tech.
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