Japanese mobile entertainment company MIXI Global Investments Inc., which is a limited partner in gaming-focused venture capital firm Lumikai, has set up an India-focused corporate venture capital firm.
The VC firm will invest $50 million (around Rs 413 crore) in early-stage entertainment and consumer services startups in the country. It will serve as an investment vehicle for MIXI to identify and help promising startups in India, the company said in a release.
“We believe in India’s startup ecosystem, especially in the sector of digital entertainment. MIXI is a business operator in social networks and mobile entertainment apps. We are committed to contributing to startups’ growth with our industry knowledge and assets, and positively impacting the startup ecosystem in India,” said Tomoharu Urabe, Principal Partner, MIXI.
Tomoharu told VCCircle that the company is looking to invest in 30 companies in the next three to four years. He added that MIXI will likely double down on the winners of the portfolio with direct investments.
MIXI has been making investments globally, especially in the entertainment and gaming segments. The company invested around $500 million between the financial years 2019 and 2022. Its investments have helped the company to develop new areas of business and create synergies with its existing business.
Going forward, MIXI is looking to spend anywhere between $200 million and $350 million in mergers and acquisitions as well as business alliances in the three financial years, from FY23 to FY25.
Mixi is focusing investments on overseas markets, including emerging markets, and is aiming to create global businesses and strengthen global synergies, the company said.
As part of its investment strategy, the company is investing in India and will leverage its assets and expertise in its B2C (business-to-consumer) services in the digital entertainment area to create synergies with portfolio companies.
