New Delhi: Micro VC fund Eximius Ventures has launched a gaming syndicate “The Gaming Lounge” to take more bets in the gaming sector outside of the fund and has made its first investment in EsportsXO.
EsportsXO is a Bengaluru-based startup, started by Utsav Umang, Rohit Raj and Vikas Goel, which is building a global community of gamers and enthusiasts across console, PC, and mobile through esports tournament management and content creation. It also offers gamers the opportunity to grow their careers as professional players. The platform has accumulated over 150K users within 90 days with a 20% month-on-month growth.
The syndicate will invest exclusively in gaming companies in the seed-stage and help them grow with the right capital, industry-specific guidance, and network access. Through this platform, Eximius aims to facilitate the flow of capital into the nascent-stage gaming industry and promote its growth.
It plans to invest in 6-8 deals per annum exclusively from the syndicate with an equity cheque of up to $500,000. Within gaming, it plans to support several sub-segments such as esports, game development and publishing, and gaming infrastructure.
Commenting on the launch of the syndicate, Pearl Agarwal, Founder and Managing Director at Eximius Ventures, said, “Indian gaming is the second fastest growing segment in entertainment after OTT platforms. Globally, it has become the fifth largest gaming market with a CAGR of 30%. However, merely 10% of the 800 gaming companies are funded today. We have launched The Gaming Lounge syndicate to bridge this gap and help these companies shape the future of tomorrow with confidence.”
Vikas Goel, Co-founder at EsportsXO, added, “Esports presents a significant opportunity to bring the global gaming community together and grow. But while Indian gaming is scaling rapidly, it is still a niche sector. As it matures further, there is a growing need for dedicated initiatives to support new-age companies. The Gaming Lounge syndicate has shown a deep understanding of the future of this industry both locally and internationally to support new innovations in this space, and we’re excited to partner with them”.
The Gaming Lounge will continue to promote the gaming industry through dedicated events, insights into the industry, and mentorship programs for early-stage founders to benefit from.