Lumikai Launches New Fund to Back India's Gaming Boom
Venture capital fund Lumikai has launched a new early-stage fund, backed by prominent investors including Salone Sehgal, a pioneering female GP in interactive media and gaming VC. The fund aims to support India's booming stock market today gaming market.
Lumikai General Partner Salone Sehgal believes in a portfolio approach to build early winners across various genres, bucking traditional global finance views on the stock market. Her colleague, Justin Shriram Keeling, sees India's 300 million plus user-gaming market as a global inflection point and a unique opportunity.
The fund has been actively sourcing deals in stealth mode, meeting over 140 interactive founders in the first half of this year. It plans to support up to 20 early-stage investments, with cheque sizes ranging from $200,000 to $2 million. Lumikai was founded by Keeling and Sehgal to support the next generation of India's leading founders in interactive content, technology, tools, and infrastructure.
Lumikai completed its first close and plans to announce its first wave of investments in the third quarter. The fund is backed by a global investor base, including iconic gaming and technology companies from Japan, Finland, the US, and South Korea. The fund's launch signals growing interest in India's games market.
