Lumikai launches gaming and interactive VC fund

Gaming and interactive media venture fund Lumikai has rolled out an early stage venture capital fund focused on gaming and interactive markets. Backed by global investor base, including iconic gaming and technology companies from Japan, Finland, US, and South Korea, the fund will deploy long-term capital into India’s interactive entertainment market for the first time.

India’s over 300 million user gaming market represents a global inflection point, a unique opportunity enabled by multiple stars aligning, Justin Shriram Keeling, General Partner, Lumikai stated. “As India’s first dedicated long-term capital and strategic partner for the gaming ecosystem, Lumikai’s vision is to help enable a new golden age for India’s ambitious founders that also drives interactive sector innovation worldwide,” he added.

Lumikai fund is built to supercharge the new generation of India’s leading founders across interactive content, technology, tools and infrastructure. Founded by Justin Shriram Keeling and Salone Sehgal, Lumikai has been actively sourcing deals in stealth mode with over 140 interactive founders already met in H1 2020. With the first close recently completed, the fund plans to announce its first wave of investments in Q3.

“Traditionally, global finance eschewed the games industry viewing it as a hit driven business. In India too, games creators have been underfinanced. However, we deeply believe in the portfolio approach of building early winners across genres to deliver outsized returns,” Salone Sehgal, General Partner, Lumikai, said. He also highlighted how investing In interactive media is highly nuanced and requires specialist insights and added that their approach goes far beyond capital. “We know success in gaming requires local insights, knowledge of global best practices, rapid iteration, access to high quality talent and relevant strategic access for distribution and go-to-market. Our domestic and global networks, along with the input of our global LP base provide essential advantages to break out in India and the world,” he opined.

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