An overview of Lumikai and the Indian gaming industry: The Desi VC
Salone Sehgal, General Partner at Lumikai, talked about the Indian gaming industry and strategies to scale for Indian game developers.
Salone has 14+ years of experience as an interactive media VC investor, game entrepreneur and ex M&A banker. She has seen companies from different vantage points ranging from seed to IPO stage. Prior to Lumikai, she was a Principal at LVP, Europe’s pioneering seed stage games VC where she was involved with multiple companies in the gaming ecosystem across content, platform and technology bets.
Salone was also Co-founder and CEO of TrulySocial, a venture backed gaming company for female audiences out of Europe and India. She was responsible for product vision, overall commercial strategy and new market growth striking up novel partnerships with global strategics, celebrities, influencers and brands.Earlier to that, she worked across global financial institutions as Vice- President, Global COO Office at Barclays Bank and M&A at Morgan Stanley, amassing $10B of M&A transaction experience.
Salone has been recognised as Top 30 Women in Mobile, Top 100 Asian Stars in UK Tech, Iconic Women Leaders by WEF and Jury Member, Bafta Games in 2017. Salone is also a renowned thought leader on “Innovating in New Game Genres” and “Building Games for Female Audiences”. She has an MBA from IESE Business School, Spain. In this episode we will cover:
The year 2020 at Lumikai (2:12) The impact of a fund’s thesis on the fundraise (4:43) Challenges of raising a fund during a pandemic (8:57) Salone’s journey and the genesis of Lumikai (13:31) What’s hot within gaming in India (18:51) How do you solve for monetization at scale within gaming in India (28:23) How do you devise an India strategy if you’re a gaming startup (38:25) How are LPs looking at gaming in general? (53:00) What role will the later stage funds play in the gaming ecosystem? (59:08) What role do VCs play in drafting the regulatory framework within gaming in India (1:01:00) Fantasy and gambling: Game of skill vs game of chance? (1:04:35)