“We want to go public as a sports tech company”, says Dream Sports CEO Harsh Jain on Dream11s IPO plans, even as diversification plans are afoot with DreamSetGo and DreamX.
India Digest: Dream11 eyes $300m funding; Impact Analytics raises $11m
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February 23, 2021
Dream Sports, which owns the online fantasy sports company Dream11, is in talks with several investors for a fresh $300 million funding round. Separately, Impact Analytics has raised $11 million led by Argentum Capital Partners.
Dream11 eyes $300m fresh funding
Dream Sports, which owns the online fantasy sports company Dream11, is in talks with several investors, including Abu Dhabi’s Alpha Wave Incubation managed by Falcon Edge, to raise $300 million in a fresh funding round, The Economic Times reported on Tuesday.
Existing investors including China’s Tencent Holdings, Kalaari Capital, and Multiples Alternate Asset Management are looking to exit the company via a secondary sale of shares. The funding is expected to value the company at $4 billion, the report said.
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“Existing investors including the likes of China’s Tencent Holdings, Kalaari Capital, Multiples Alternate Asset Management are among the investors looking to sell their shares. The deal may involve some primary cash infusion but the final contours are still being worked out.” said a person in the know.
In September last year, Dream Sports, founded by Harsh Jain and Bhavit Sheth in 2008,
had announced the closure of a $225 million funding round which too was largely a secondary stake sale transaction. The financing saw the entry of New York-headquartered Tiger Global Management, TPG Tech Adjacencies, ChrysCap and Footpath Ventures into the company with Dream Sports’ valuation swelling to $2.5 billion.
Private equity funds add key manpower for future growth
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According to data exclusively put together for ET by staffing firm Native (erstwhile VitoAltor), there were about 220 hires in global and domestic private equity and venture capital funds in India in the past one year, the highest at least in five years. There were 165 moves in 2019, and just over a hundred each in the previous two years.
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According to Native data, 51% of the churn happened within global funds with almost 31% hires in growth funds.
Mumbai: It was supposed to be a washout year. With the economy coming to a standstill with a raging pandemic and the resultant lockdown, businesses suffered the most. But hiring in private equity funds across stages paints a different picture one that is of green shoots and optimism.
Licious eyes $80 million in funding at $800 million valuation
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TPG, General Atlantic, PremjiInvest and Multiples Alternate Asset Management are in talks to invest in the Vertex and 3one4 Capital-backed company.
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Mumbai: Gourmet meat startup Licious is eyeing $80 million in capital at a valuation of $800 million, sources close to the development said, in a round that will see new as well as existing investors participate.
TPG, General Atlantic, PremjiInvest and Multiples Alternate Asset Management are in talks to invest in the Vertex and 3one4 Capital-backed company, the sources said.
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