Micro VC fund Eximius Ventures has launched The Gaming Lounge and made its first investment in EsportsXO.
With an equity control of up to $500,000, the union plans to invest in 6-8 deals per year. Apart from games, it also plans to support various sub-segments such as esports, game development and publishing, and game infrastructure.
EsportsXO is a Bengaluru-based company founded by Utsav Umang, Rohit Raj, and Vikas Goel that caters to the global player community through esports tournament management and content creation across console, PC, and mobile devices. The platform also offers players the opportunity to develop their careers professionally.
Commenting on the launch of the union, Pearl Agarwal, Founder and Managing Director of Eximius Ventures, gave the following words in a speech:
“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.”
The syndicate will specifically invest in seed-stage gaming companies and help them grow with the right capital, industry-specific guidance, and network access. Through this platform, Eximius aims to facilitate money flow to the emerging game industry.
The Gaming Lounge will continue to elevate the game industry through special events, industry insights, and mentorship programs available to early-stage founders.
EsportsXO Co-founder Vikas Goel made the following comments in a statement:
“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.”