TLDR:
- Lumikai Gaming and interactive media venture capital firm aims to close 10-12 investments in pre-seed and Series A firms from its $50 million India Fund-II.
- The VC firm has $58 million in assets under management from 15 portfolio companies that have collectively raised over $120 million.
Gaming and interactive media venture capital firm Lumikai is set to make 10-12 investments in pre-seed and Series A firms from its $50 million India Fund-II, according to its founding general partner, Salone Sehgal. The firm currently has $58 million in assets under management from 15 portfolio companies that have raised over $120 million collectively. Lumikai’s first fund, launched in 2020, allocated $40 million to gaming startups, such as Loco, Elo Elo, and Bombay Play. Fund II has led funding rounds in Vobble, Autovrse, and QuriousBit.
Sehgal stated that Lumikai is particularly bullish on interactive media sub-sectors like content, platforms, tools and technology infrastructure, and systems of play. The firm sees tremendous potential in the Indian media and entertainment market, which is expected to grow to $30 billion from its current $25 billion. Sehgal highlighted the increasing interest in India’s game developer talent, with significant capital flowing into the industry from various sources.
Lumikai has also cut its growth forecast for the real money gaming segment, noting that it is a saturated market and not a significant opportunity for early-stage VC firms. The firm is focused on creating category leadership over the next 5-10 years in emerging sectors within the gaming and interactive media landscape.
