Lumikai launches VC fund for gaming, interactive media start-ups

Lumikai, a venture capital firm focused on gaming and interactive media, on Monday announced a new early stage VC fund that will support up to 20 early-stage investments with cheque sizes between USD 200,000 to USD 2 million.

The fund is backed by a global investor base, including iconic gaming and technology companies from Japan, Finland, US, and South Korea, deploying long-term capital into India's interactive entertainment market for the first time, it said in a statement.

"Lumikai fund is built to supercharge the new generation of India's leading founders across interactive content, technology, tools and infrastructure - Made in India, for 300 million-plus domestic gamers and global audiences," it added.

Lumikai was founded by Justin Shriram Keeling and Salone Sehgal. With first close recently completed, the fund plans to announce its first wave of investments in the third quarter.

"A billion young, entertainment hungry users now have access to the world's cheapest data and frictionless national mobile payments - we also have arguably the deepest bench of raw creative and technical talent in the world," Keeling, Lumikai General Partner, said.

As India's first dedicated long-term capital and strategic partner for the gaming ecosystem, Lumikai's vision is to help enable a new golden age for India's ambitious founders that also drives interactive sector innovation worldwide, he added.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel