Dream Sports, the parent company of Dream11, has secured new funding worth US$225 million, valuing the fantasy league company at US$2.5 billion.
The funding comes from Tiger Global Management, TPG Tech Adjacencies (TTAD), ChrysCapital and Footpath Ventures.
According to the Economic Times, the latest round of finance will reduce the stake of China’s Tencent Holdings to single digits.
Dream11 is India’s largest fantasy sports company with about 90 percent of the market. The company recently won the sponsorship rights to the India Premier League cricket tournament, which this year is being held in the United Arab Emirates.
Fantasy sports have been the fastest growing section of India’s online gaming industry, although the sector has taken a knock during the pandemic as live sporting events dried up.