Lumikai, a gaming and interactive media-focused VC fund based in India, has announced the launch of its second fund, Fund II, with a target corpus of $50 million from global investors. The funds will be utilized to support promising entrepreneurs in the gaming and interactive media space, ranging from pre-seed to Series A investments. Notable investors in the fund include Krafton and Smilegate from South Korea, Mixi and Colopl from Japan, Supercell from Finland, and Indian gaming startup Nazara, along with various family offices and high net-worth individuals. Additionally, Lumikai has set up a dedicated $10 million alternative investment fund for Indian limited partners.
Through Fund II, Lumikai aims to identify and invest in eighteen to twenty leading companies across different categories within the gaming and interactive media industry. These categories include gaming content, digital media, applied game mechanics, user-generated content platforms, creator economy, tools and technology, and frontier areas such as generative artificial intelligence, mixed reality, virtual identities, and edge computing. The fund has already completed its first close and has a pipeline of planned investments. Lumikai previously launched Fund-I in 2020, with a value of $40 million, and has already supported various startups in the gaming and interactive media sector.