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Gaming and interactive media fund Lumikai has announced the launch of its second fund, targeting a $50 million corpus from global investors. The funds will be deployed as a pre-seed to Series A investments.
Currently, the company has $40 million under management as part of its first fund. According to the company, it is the first time that it is inviting domestic Rupee capital with a dedicated $10 million AIF for Indian LPs. Its total investment in the country’s gaming and interactive media sectors has been over $100 million so far.
Bullish outlook
“Over the course of the last 3 years, we have seen more than 1,400 deals and seen the industry attract investor interest, deepen founder quality and achieve liquidity events. We continue to remain bullish on the long-term potential of the India interactive market, and this is our opportunity to build on the foundation we have laid,” said Salone Sehgal, Founding GP of Lumikai.
Lumikai Fund II investors include marquee names from the global world of gaming, including publicly listed Japan-based gaming giants Mixi and Colopl, South Korean payers such as Krafton and Smilegate, Finland-based Supercell, Indian strategics including Nazara, and select large Indian family offices including the Jeejeebhoys, KCT Group, DSP Kothari, and Sattva Group, as well as other high net worth individuals.
Investments
Fund II will continue investing in India’s $2.6 billion gaming market (set to grow to $8.6 billion by FY27), catalysing early-stage sector winners to continue delivering outlier returns. It will invest in five key areas: gaming content, original IP, and digital media; UGC platforms and the creator economy; tools, technology, and infrastructure; companies leveraging systems of play, applied game mechanics, and interactive touchpoints across value chains and frontier bets, including mixed reality, generative AI, virtual identities, edge computing, and more.
“These sunrise sectors have seen tremendous tailwinds since we launched the fund, and we are privileged to have a front-row seat in this revolution,” said Justin Shriram Keeling, Founding GP of Lumikai.
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