Lumikai, an Indian gaming and interactive media fund, has launched its second fund with a target of $50 million. The funds from global investors will be used to support gaming and interactive media founders and startups in India. Lumikai’s latest fund marks the company’s invitation of domestic Rupee capital with a dedicated fund of $10M AIF for Indian limited partnerships. The total investment of Lumikai in India has crossed over $100M. Its first fund was launched with $40M, and its latest fund has already completed its oversubscribed first close.
Lumikai Fund II has investors including Mixi, Colopl, Krafton, Smilegate, Supercell, Nazara, Jeejeebhoys, KCT Group, DSP Kothari, Sattva Group, Ben Feder, Jon Vlassopulos, Pankaj Gupta, and Akshat Rathee. With this fund, Lumikai aims to invest in five thesis areas, including gaming content, original IP and digital media, UGC platforms and 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, etc.
Interactive media lies at the confluence of new technology, culture, and emerging media. According to Salone Sehgal, Founding GP, Lumikai, 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.
In a statement, Justin Shriram Keeling, Founding GP, Lumikai, said, 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.
The Lumikai Fund II will support gaming and interactive media startups in India and represents a significant opportunity for the country’s budding entrepreneurs. Lumikai is an important player in India’s gaming and interactive media ecosystem, and its latest fund is expected to provide significant support to those looking to make their mark in these dynamic and growing sectors.
