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Lumikai, an Indian fund focused on gaming and interactive media, has launched its second fund with a target of $50 million from global investors

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The fund aims to invest in pre-seed to Series A funded start-ups operating in the gaming and media industries

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Lumikai's first fund, Lumikai Fund I, raised $40 million in 2020 and is also setting up a $10 million alternative investment fund for Indian limited partners

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Salone Sehgal, Founding General Partner at Lumikai, expressed excitement about catalyzing India's gaming and interactive media revolution and unlocking a new asset class for investors

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Lumikai has seen over 1,400 deals close in the last three years and remains optimistic about the long-term potential of the Indian interactive market

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Lumikai's first fund has backed start-ups such as Loco, Elo Elo, and Bombay Play, among others

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Despite regulatory challenges, the gaming industry in India presents significant opportunities

It generated $2.8 billion in revenue in 2022 and is projected to reach $5 billion in 2025, with a compound annual growth rate (CAGR) of 28-30%.

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Lumikai aims to be a focal point for the next generation of gaming and interactive media founders, witnessing the tremendous growth and potential in these sectors

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Justin Shriram Keeling, Founding General Partner at Lumikai, highlighted the privileged position of the fund in observing and participating in this revolutionary industry

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