Dream11 will not raise funds from Chinese investors again, says Harsh Jain: Report
March 5, 2021
Dream Sports, the parent company of Dream11, will not raise fresh capital from Chinese investors in the future, founder and CEO Harsh Jain said in an interview to the Economic Times. Chinese technology giant Tencent Holdings Ltd. owns less than 10% of Dream Sports, and has been diluting its stake in the company as India–China relations have intensified.
In August, Dream11 bagged sponsorship rights for the 2020 edition of Indian Premier League (IPL), after Chinese smartphone maker Vivo fell out of favour. Most recently, it raised US$225 million in a funding round with participation from Chrys Capital, Tiger Global Management, and others.