GBC Time has interviewed – Mona Motwani, Founder and CEO of Ixia Capital, a VC fund and Studio with a sole focus on iGaming, Esports, digital assets, and the associated tech space.
Ixia Capital specialises in high-growth sectors like gaming, esports, and digital assets. What inspired you to focus on these industries, and how do you see them evolving in the coming years?
The convergence of gaming, esports, and digital assets represents a transformative shift in digital entertainment. My decision to focus on these sectors through Ixia Capital stems from three key observations.
First, the sheer scale of market growth. When you look at emerging markets like India with 568 million gamers or Sub-Saharan Africa with 185 million active players, the opportunity is undeniable. These numbers reflect not just market size, but a fundamental change in how people engage with digital content.
Second, technological advancement has reached an inflection point. Cloud gaming is democratising access, AI is enabling personalised experiences, and blockchain technology is creating entirely new economic models within gaming ecosystems. As someone who’s worked extensively in gaming and gambling regulation, I recognise how these technologies are reshaping industry fundamentals.
Third, consumer behaviour has evolved dramatically. Gen Z spends nearly 12 hours weekly in virtual worlds – almost equivalent to their social media usage. This shift isn’t temporary; it’s reshaping how future generations will interact, entertain, and transact.
Looking ahead, I envision major developments such as the integration of blockchain in digital assets to transform ownership and create new revenue streams. Esports will continue its trajectory from competitive gaming to mainstream entertainment – we’re already seeing this in the Middle East, where government support is creating robust gaming ecosystems. Finally, the lines between gaming, social platforms, and digital economies will blur further, creating opportunities for innovative business models.
At Ixia Capital, we’re positioning ourselves at this intersection of technology, entertainment, and the digital economy. Our focus isn’t just on capturing market share; it’s about shaping how these industries evolve in our key markets of India, Africa, and the Middle East.
What unique challenges have you encountered while building and scaling businesses in such fast-paced and innovative sectors? How does Ixia Capital approach these challenges?
What I feel is that the challenges in building and scaling businesses in gaming and digital assets are as dynamic as the opportunities. While building Ixia capital we have also encountered some vital challenges and our strategy has helped us significantly.
The uncertain regulatory landscape is one of them. Having led government relations at Sportradar for the Indian subcontinent, I’ve witnessed firsthand how regulatory uncertainty can impact business trajectories. This experience helped me a lot while developing Ixia Capital.
Another significant challenge is market volatility, particularly in emerging markets. The gaming industry’s rapid technological shifts can make today’s innovation obsolete. Our studio model at Ixia gives us a unique advantage here – instead of traditional VC investing, we create and fund our own projects. This hands-on approach allows us to pivot quickly when market conditions change.
Competition in these sectors is intense, especially in mobile gaming where user acquisition costs keep rising. Our strategy focuses on identifying underserved opportunities in emerging markets like Africa, that market size is expected to reach US$ 12 billion by 2030, but with significantly less saturation compared to developed markets.
The technological integration challenge is particularly complex in our focus regions. Infrastructure limitations vary significantly – what works in Dubai might not be feasible in rural India. We approach this through careful market segmentation and localised development strategies. Our projects are designed with market-specific constraints in mind, whether that’s bandwidth limitations in Africa or device capabilities in different regions.
At Ixia Capital, we’ve developed a distinctive approach to these challenges. We empower our partners to achieve rapid growth in the dynamic gaming and gambling landscape. Our strategic approach maximises returns while minimising risk, unlocking the full potential of emerging markets.
This hands-on approach has proven particularly effective in navigating the complex intersection of gaming, esports, and digital assets across diverse markets.
Your company emphasises partnering with visionary entrepreneurs. Can you share some key traits you look for in founders before investing in or partnering with their ventures?
In the gaming and digital asset space, founder traits can make or break success. At Ixia Capital, we focus on five critical characteristics that align with our sectors’ unique demands.
Domain expertise with market foresight is very important. We value founders who not only understand gaming and digital assets technically but can spot emerging opportunities. This is particularly crucial in our focus markets across the Middle East, Africa, and India, where understanding local nuances can be the difference between success and failure.
We also look at adaptability with strategic consistency. The gaming industry evolves rapidly – whether through technological shifts or regulatory changes. During my time at Sportradar, I saw how regulatory updates could transform business models overnight. We need founders who can pivot quickly while maintaining their core vision.
Having a balanced risk awareness is another key characteristic. In gaming and digital assets, successful founders aren’t just risk-takers – they’re risk analysers. They understand regulatory frameworks and market dynamics while still innovating boldly.
Operational excellence is a must for us too. Our VC studio model demands partners who excel at execution. This means turning ideas into reality efficiently, building strong teams, and delivering consistent results.
Finally, we look for founders with global ambition but local understanding. As we aim to expand at a global level and each market has unique characteristics – what works in Dubai might not work in Mumbai. The ability to adapt global gaming trends to local contexts is invaluable.
These traits create founders who can navigate the complex intersection of gaming, technology, and regional markets effectively.
How do you balance supporting the creativity of entrepreneurs with managing risks, especially in industries like gaming and digital assets, which can be volatile?
In the constantly shifting gaming and digital asset space, balancing innovation with risk management requires a structured yet flexible approach. Let me share how we achieve this balance effectively.
We start with guided innovation. Rather than constraining creativity, we establish clear parameters based on market realities and regulatory requirements. When working with blockchain gaming projects, for instance, we ensure compliance with regional frameworks like VARA in the UAE while encouraging innovative gameplay mechanics.
Risk management is embedded in our development process. Having worked extensively in gaming regulation, I’ve learned that proactive risk assessment is crucial. We conduct thorough due diligence not just on market conditions, but on technological feasibility and regulatory implications. This approach has proven particularly valuable in emerging markets where regulatory landscapes evolve rapidly.
Security and compliance aren’t afterthoughts – they’re foundational elements. Each project undergoes rigorous technical and legal review, particularly crucial in digital assets where security breaches can be catastrophic. We maintain strong partnerships with cybersecurity and legal experts across our key markets.
Most importantly, we focus on sustainable growth. By encouraging strategic thinking and providing resources for risk management education, we help entrepreneurs build resilient businesses while pursuing their creative visions.
What role do you see emerging technologies, such as blockchain and AI, playing in the future of gaming, esports, and digital assets? How is Ixia Capital positioning itself in these areas?
Emerging technologies are fundamentally reshaping gaming and digital entertainment, creating opportunities we couldn’t imagine a decade ago. Let me share my perspective on their transformative impact.
Blockchain technology is revolutionising ownership and value creation in gaming. We’re seeing a shift from traditional in-game purchases to true digital asset ownership. This isn’t just about NFTs – it’s about creating player-driven economies where digital items have real-world value. The Middle East, particularly the UAE with its VARA framework, is leading this transformation through clear regulatory guidelines.
AI is enhancing gaming experiences in ways that directly impact user engagement. We’re seeing AI-driven personalisation creating more immersive gameplay, while machine learning algorithms optimise game design and player retention. From my experience, the most successful implementations combine AI capabilities with a deep understanding of local player preferences.
These technologies are particularly impactful in emerging markets. In India, where we have 568 million gamers, AI-driven localisation is making games more accessible and engaging. In Africa, blockchain-based play-to-earn models are creating new economic opportunities for gamers.
In the future, we’re focusing on projects that leverage these technologies thoughtfully. This means investing in solutions that enhance user experience and create tangible value, rather than just implementing technology for its own sake. We’re particularly excited about AI applications in responsible gaming and blockchain solutions that can operate within evolving regulatory frameworks.
Ixia Capital’s mission includes fostering the next generation of industry leaders. How do you nurture leadership within your portfolio companies, and what leadership qualities do you think are essential for success in your industries?
Sectors involving gaming and digital assets, effective leadership development is crucial.
Our approach to nurturing industry leaders stems from my experience witnessing both successes and failures in these dynamic markets.
We prioritise three essential leadership qualities. The first of these, strategic adaptability – leaders must navigate rapid technological changes while maintaining a clear vision. Having worked in gaming regulation, I’ve seen how quickly market dynamics can shift.
Then we look at cultural intelligence – particularly crucial in our focus markets across India, Africa, and the Middle East, where understanding local nuances drives success.
Technical credibility combined with business acumen is invaluable– leaders need enough technical understanding to make informed decisions while maintaining a broader business perspective.
Our leadership development focuses on practical experience. We connect portfolio leaders with relevant mentors, facilitate knowledge sharing across our network, and provide hands-on guidance during critical growth phases. This approach has proven particularly effective in emerging markets, where leaders often face unique challenges requiring both global expertise and local understanding.
Talking about the essential qualities for success in our industries combines these three qualities with strong execution capabilities and ethical decision-making to drive long-term success.
As a CEO, what would you say has been the most significant factor in your personal and professional success? How do you instil those values within Ixia Capital and the ventures you support?
Authenticity and strategic persistence have been the cornerstones of my success.
My core principle has always been building deep, genuine expertise. Starting with my role as Head of Sports Partnerships and Government Relations at Sportradar, where I worked closely with leagues, sports associations, media companies, and both federal and state government bodies, I learned that true industry understanding comes from immersing yourself in both its challenges and opportunities. This approach has shaped how I lead Ixia Capital today..
The most significant factor in my success has been the ability to identify and capitalise on emerging market opportunities while maintaining unwavering focus. When I see potential – I analyse not just the market numbers, but the cultural and operational nuances that drive success.
I instil these values by emphasising three key principles: thorough market understanding, ethical decision-making, and resilient execution. My approach focuses on building sustainable businesses rather than chasing quick wins. This means conducting detailed market analysis, understanding regulatory frameworks, and creating value through innovation.
I believe success in gaming and digital assets requires both vision and pragmatism – and I always put my efforts into balancing this in every decision and partnership.
Looking ahead, what are your key strategic priorities for Ixia Capital over the next 3 to 5 years? How do you envision the company’s role in shaping the future of gaming, esports, and digital assets?
Our vision for Ixia Capital over the next five years centres on transforming how gaming and digital assets create value in emerging markets.
We’re mapping an ambitious path that combines technological innovation with market-specific solutions to leverage tremendous opportunities for innovative solutions in different regions.
Our strategic focus emphasises sustainable growth in digital entertainment. This means developing projects that leverage blockchain and AI technologies thoughtfully, particularly in regions like the UAE where regulatory frameworks support innovation. We’re not just following trends – we’re creating sustainable gaming economies that can thrive in diverse market conditions.
I envision Ixia Capital becoming a catalyst for gaming innovation across emerging markets. By bridging technological advancement with local market understanding, we aim to shape how the next generation experiences and benefits from digital entertainment.
At Ixia Capital, – the principles that guide our strategic direction for strengthening our presence in the gaming and digital assets industry are accessibility, sustainability, and local relevance.
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