Tiger Global Management, which is one of the most active startup investors in India, is now likely to lead a $500 million funding round in the fantasy gaming platform Dream11, according to the report.
Tiger could spend as much as $200 million to buy new shares as well as shares from the Dream11’s early investors Kalaari Capital, Think Investment, and private equity firm Multiples at a valuation of $2.5 billion, said the report.
With the help of this new investment, Dream11 will be worth more than double its $1.1billion valuation in the month of April 1019. The company is also working with the investment bank Credit Suisse for securing funds.
“A lot of investors have been interested in Dream11. They have built a large profitable business with almost no big competitor and still a lot of avenues for growth remaining,” said an investor tracking the space, one of the three mentioned above requesting anonymity said.