The money from this fund will be used to invest in pre-seed through Series A-funded start-ups in the media and gaming sectors.
The second fund from Indian gaming and interactive media firm Lumikai has been launched with a target corpus of $50 million from international investors. The money from this fund will be used to invest in pre-seed through Series A-funded start-ups in the media and gaming sectors.
Fund for Lumikai In 2020, I raised $40 million. Additionally, it is in the process of establishing a $10 million alternative investment fund specifically for limited partners from India.
Salone Sehgal, the founding general partner of Lumikai, commented on this development by saying, “At Lumikai, we are eager to catalyze India’s gaming and interactive media revolution. The intersection of new technology, culture, and developing media is where interactive media exists. Since the outset, our goal has been to accelerate India’s most aspirational founders inside the ecosystem in order to open up a new asset class for investors.
Sehgal added that the fund had closed more than 1,400 agreements in the previous three years.
We continue to be optimistic about the India interactive market’s long-term potential, and this is our chance to expand on the foundation we have already established, she added.
Loco, Elo Elo, and Bombay Play are just a few of the start-ups that received funding from Lumikai’s inaugural fund.
Despite the regulatory issues that loom over the gaming business, the company also thinks that it offers a number of opportunities. The Indian gaming sector is expected to increase significantly to $5 billion in revenue by 2025, suggesting a compound annual growth rate (CAGR) of 28–30%, according to a LinkedIn analysis. In 2022, the sector generated $2.8 billion in revenue.
“Lumikai was built from the bottom up to serve as a hub for the upcoming generation of superstar interactive media and game creators. Since we started the fund, these emerging industries have had strong tailwinds, and we are fortunate to be seeing this transition from the front row, said Justin Shriram Keeling, founding general partner of the business.
