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Twentysomething Millionaire launches Early Stage Fund for Social Gaming

Oprah Winfrey described Indian born serial entrepreneur Gurbaksh Chahal as “living the American dream”. Fact is that he knows how to start, build and sell a company. According to Sprouter, he sold his first business, Click Agents, two years after starting up for $40 million, and his second company, BlueLithium, was acquired by Yahoo! in 2007 for $300 million. He is currently growing his third startup gWallet. And that’s far before he turns 30 years old.

Chahal wants to bring this quality to other startup entrepreneurs and so he has launched an early-state venture fund, gWallet Ventures, that will invest in social gaming and online gaming companies. The fund will provide initial funds from $100k to $1 million to start-ups to develop and market their game. According to their blog:

We are currently looking for companies to invest in (our criteria is fairly simple—if you have fun games, we’re probably interested), and we’re excited to choose our first portfolio company. We plan on playing an active role with all of the companies we invest in, and we’ll do our part to make sure the best games out there are brought to the masses.

Intention is to be working directly with the entrepreneurs, such as gaming developers on Facebook and MySpace, that receive early-state venture funds to help in all business aspects, and especially with the monetization of games, through the gWallet company. And there they also will meet Rebecca Watson for business development, who has a track record with Real Girls Media where she helped launch the company’s owned and operated site DivineCaroline.com and led all syndication, licensing, content sourcing and partnership development. Additionally, she founded the Real Girls Network, a premium advertising network connecting women’s blogs and communities with Fortune 500 brands.

Anyone who is not interesting in the Fund, may be nonetheless interested in the Entrepreneurial Lessons of the serial entrepreneur, as listed on Sprouter: