Lumikai Launches $50M Fund II to Back Gaming Startups in Pre-seed to Series A Rounds Lumikai Fund II counts Mixi, Colopl, Krafton, Smilegate, Supercell, Nazara, Jeejeebhoys, KCT Group, DSP Kothari, Sattva Group, Ben Feder, Jon Vlassopulos, Pankaj Gupta, and Akshat Rathee as its investors.
By Paromita Gupta •
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Lumikai, an Indian gaming and interactive media fund, announced the launch of its second fund with a target of USD 50M. The corpus funds from global investors will be targeted towards the country's budding gaming and interactive media founders and startups. The fund marks Lumikai's invitation of domestic Rupee capital with a dedicated fund of USD 10M AIF for Indian limited partnerships.
Previously, it had launched Fund I with USD 40M. With the announcement, the total investment of Lumikai in India crosses over USD 100M. According to the official statement, the fund has already completed its oversubscribed first close.
"At Lumikai, we are excited to catalyse India's gaming and interactive media revolution. Interactive media lies at the confluence of new technology, culture and emerging media. Since the beginning, our ambition has been to unlock a new asset class for investors by turbo-charging India's most ambitious founders within the ecosystem. Over the course of the last 3 years, we have seen 1400+ 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, Lumikai.
Lumikai Fund II counts Mixi, Colopl, Krafton, Smilegate, Supercell, Nazara, Jeejeebhoys, KCT Group, DSP Kothari, Sattva Group, Ben Feder, Jon Vlassopulos, Pankaj Gupta, and Akshat Rathee as its investors.
"Lumikai was created ground-up to be a focal point for the next generation of superstar gaming and interactive media founders. 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. We'd like to thank our AAA roster of global and domestic LPs for supporting us as we continue to be at the forefront of this once-in-a-generation inflection point," said Justin Shriram Keeling, Founding GP, Lumikai.
Lumikai, with this fund, aims to invest across five thesis areas: 1. Gaming content, original IP and digital media 2.UGC platforms and creator economy 3. Tools, technology and infrastructure 4. Companies leveraging "systems of play" applied game mechanics and interactive touchpoints across value chains, and 5. Frontier bets, including mixed reality, generative AI, virtual identities, edge computing etc.
