Seed (gaming) fund research profile
Lumikai is India’s specialist early-stage investor in gaming and interactive media. Founded by Salone Sehgal, it invests across content, platforms and enabling infrastructure where consumer engagement and new media behaviour can create category leaders.
At a glance
Research profile
Open a section to inspect the evidence. The first view starts with the investment point of view; the rest stays quiet until you need it.
Investment lens
Lumikai uses a seed (gaming) approach across Gaming, interactive media.
Current evidence
Lumikai launched Fund II in June 2023 with a $50M target to back pre-seed through Series A gaming and interactive-media companies. The manager and contemporaneous reporting identify Bombay Play, Loco, EloElo and Studio Sirah among its named positions.
Strategy
Seed (gaming)
Sector focus
Gaming, interactive media
AIF structure context
Indian venture capital and angel-fund strategies are commonly structured as Category I AIFs. Verify the specific vehicle and registration before investing.
Current signal
Lumikai launched Fund II in June 2023 with a $50M target to back pre-seed through Series A gaming and interactive-media companies. The manager and contemporaneous reporting identify Bombay Play, Loco, EloElo and Studio Sirah among its named positions.
Investor questions
Lumikai is covered in Rupeia's venture capital research universe. The current public record describes the strategy as Seed (gaming), with a sector focus of Gaming, interactive media. The profile should be read with the linked source trail and Typical route: Category I AIF context.
The profile displays only company or asset names attributable to Lumikai in the reviewed public sources: Bombay Play, Loco, EloElo, Studio Sirah, Giga Fun Studios, House of X. It does not represent a complete current portfolio unless the manager has published one.
Lumikai launched Fund II at $50M and disclosed a broad set of investments including Bombay Play, Loco, Eloelo, BuyStars, Studio Sirah and others. The public record shows sector conviction and follow-on activity, but not a consolidated fund-level return. These signals are not a substitute for fund- and vintage-specific net performance, realised distributions and audited or administrator-supported reporting.
Public fund size: Fund II was announced at $50M in June 2023; India-specific LP commitments are not itemised in the public materials reviewed.. Public terms or access information: Seed-stage gaming and interactive-media investing across content, platforms, tools and infrastructure. Specific cheque, ownership and reserve terms are not consistently disclosed.. Current fees, minimum commitment and availability must be confirmed for the exact named vehicle in its fund documents.
The current source record names Salone Sehgal, Justin Shriram Keeling. Verify current roles, departures, attribution and key-person provisions before relying on the team history for a new commitment.
Review stage concentration, follow-on reserves, company failure rates, dilution, exit timing and the gap between paper valuations and realised distributions. The current open diligence point is: Current deployment pace and fund-level returns are not publicly disclosed..
2023-06-22: Lumikai launched Fund II in June 2023 with a $50M target to back pre-seed through Series A gaming and interactive-media companies. The manager and contemporaneous reporting identify Bombay Play, Loco, EloElo and Studio Sirah among its named positions.
Next step
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