Japanese Entertainment Company MIXI Allocates $50 Million to Invest in India's Early Stage Startups

MIXI, a Japanese digital entertainment company, has set aside $50 million (nearly 414 crore) to invest in early-stage startups in India's B2C gaming and digital entertainment industry over the next 3-4 years, according to a senior official.

The newly announced venture fund, MIXI Global Investments, will serve as an investment vehicle for the Tokyo-based company to identify and assist promising startups in India.

"Our primary focus in India is the digital entertainment sector, and I have been meeting with many startups across the country for quite some time..."There are many gaming studios coming to India, and I like the ecosystem around them, such as gaming streaming services and esports, which I think would be really fitting," says Tomoharu Urabe, principal partner at MIXI Global Investments.

He went on to say that the company sees India as a big opportunity because of its working-age population, which is expected to grow until 2050, as well as the number of smartphone users, with 50% of the population already owning one.

According to the company, the digital entertainment market centred on smartphones is also rapidly growing, and the mobile gaming market is expected to be worth 1 trillion JPY ('58,000 crore) by FY27.

"More and more people are spending time on mobile entertainment." As a result, we believe that there is a high demand in India for services that foster deeper, more meaningful connections."We hope to provide our industry knowledge to those portfolio companies," Urabe said.