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Lumikai Fund is a venture capital firm based in Gurugram, Haryana, India, established to support and catalyze the growth of innovative founders in the interactive media sector. Founded in August 2020, Lumikai launched India's first gaming-focused VC fund, Fund I, with an AUM of $40 million. The firm has since raised and fully deployed Fund II, targeting $50 million, bringing the total AUM across both funds to over $90 million.
The firm focuses on interactive media, digital platforms, and gaming, emphasizing the importance of culture, new media, and technology in its investment strategy. Lumikai partners with a curated group of companies that are shaping the future of interactive content and platforms. The firm has a notable LP base that includes major gaming publishers from Japan and Korea, enhancing distribution and strategic partnerships for its portfolio companies.
Notable milestones include the all-cash exit from Loco, a leading game streaming platform, in October 2024, marking Lumikai's first significant LP-returning exit. The firm is recognized for its market research, publishing the annual 'State of India Interactive Media & Gaming' report, which provides valuable insights into the industry.
Lumikai Fund invests at the intersection of culture, new media, and technology, targeting projects that aim to re-imagine interactive media and drive innovation in gaming. The firm focuses on several key areas, including legacy platforms, tools and infrastructure, and gamified experiences across sectors such as healthtech, fintech, edtech, and consumer tech. Additionally, Lumikai is interested in frontier technologies like AI, blockchain, and AR/VR, as well as content creation in games and new-age digital media.
The firm typically invests in pre-seed to Series A stages, with check sizes ranging from $200,000 to $2 million. Lumikai aims to partner with 15 to 20 companies per fund, emphasizing a strong alignment with founders who are building authentic Indian gaming IP and interactive media. The firm’s investment thesis is supported by the projection that India's gaming market will reach $9.2 billion by FY29, highlighting the potential for significant growth in this sector.
Lumikai Fund's portfolio comprises 15 companies, showcasing a diverse range of interactive media and gaming ventures. Notable companies include:
Justin Shriram Keeling serves as General Partner, bringing experience from Comcast-G4 and Fox Interactive Media. Salone Sehgal, also a General Partner, has a background in venture capital and M&A banking, and has been recognized in Entrepreneur India's 'Gaming Vanguard'.
To pitch Lumikai, founders should email hello@lumikai.com, including a clear overview of their startup, the problem it addresses, and how it fits within the gaming or interactive media sectors.
In October 2024, Lumikai achieved its first notable exit with the all-cash acquisition of Loco for $65 million by Redwood. Recently, the firm led seed rounds for NPrep ($1.5 million) and QuriousBit Games ($2 million), while also co-leading a $2.4 million seed round for Giga Fun Studios in January 2023.
What types of companies does Lumikai invest in?
Lumikai focuses on gaming and interactive media startups, particularly those at the pre-seed to Series A stages.
How can I pitch to Lumikai?
Founders can reach out via email at hello@lumikai.com to discuss potential investment opportunities.
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