Lumikai launches $50 million fund II to back early-stage gaming startups
We are proud to announce the launch of Lumikai Fund II.
When we started Lumikai in 2020, we had a firm belief that India's gaming and interactive markets were on the cusp of a one-in-a-lifetime inflection point.
Fast forward less than three years, the gaming and interactive media market in India has far surpassed our own expectations. There's six billion dollars of new revenue coming into the market over the next 4-5 years. India consumed 15B game downloads last year, more than China and the US combined. There are over 500M gamers in the country today. The number of gaming companies has grown 30x, and ARPUs have 10xed in the last five years. We have already had three gaming unicorns, over $750M in gaming M&A, and India's first gaming IPO in the last two years.
We have been inspired with the ambitions of 1400+ founders and found our tribe across content, platform and infrastructure companies -
Bombay Play, Loco, Eloelo, BuyStars, Studio Sirah, Giga Fun Studios, Supernova for Kids, Singularity, All Star Games, CloudFeather Games, House of X, and more.
With this new fund, we look forward to further strengthening our investment commitment to the domestic startup ecosystem.
We are ever more grateful to our Fund I LP’s for their continued support and we are thankful for the several new LPs who sign on to become our long-term partners. Some of the world’s most iconic names join us on this journey ahead. To our investors, supporters, ecosystem friends - a big thank you.
You can read more here.