The fund is backed by a global investor base, including iconic gaming and technology companies from Japan, Finland, US, and South Korea, deploying long-term capital into India''s interactive entertainment market for the first time, it said in a statement.
"Lumikai fund is built to supercharge the new generation of India''s leading founders across interactive content, technology, tools and infrastructure - Made in India, for 300 million-plus domestic gamers and global audiences," it added.
Lumikai was founded by Justin Shriram Keeling and Salone Sehgal. With first close recently completed, the fund plans to announce its first wave of investments in the third quarter.
"A billion young, entertainment hungry users now have access to the world''s cheapest data and frictionless national mobile payments - we also have arguably the deepest bench of raw creative and technical talent in the world," Keeling, Lumikai General Partner, said.
As India''s first dedicated long-term capital and strategic partner for the gaming ecosystem, Lumikai''s vision is to help enable a new golden age for India''s ambitious founders that also drives interactive sector innovation worldwide, he added. PTI SR ABM ABM
Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI