MUMBAI: New York-based investment fund Tiger Global Management, which reportedly has $3.8 billion in hand to fuel its deals, is likely to lead a $500 million funding round in fantasy gaming platform Dream11 at a valuation of $2.5 billion, Livemint reports.
Tiger could spend as much as $200 million to buy new shares as well as shares from Dream11’s early investors Kalaari Capital, Think Investment and private equity firm Multiples, Livemint quotes people close to the developments as having confirmed. With this investment, Dream11 will be worth more than double its $1.1 billion valuation in April 2019.
According to the business daily, the company is working with investment bank Credit Suisse for the fundraising.
Apart from fantasy gaming, Dream11’s parent company Sporta Technologies Private Limited is expected to foray into other sports related business ventures, including live-streaming of sports matches and a platform for sale of sports-related merchandise.
Dream11 is the official fantasy gaming partner of various leagues and tournaments like ICC, IPL, ISL, Pro Kabaddi league, and Big Bash league.
