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Tiga Investments to acquire Tencent's stake in Dream11 for $150-M

Yourstory   Mint  

Singapore-based Tiga Investments is to acquire the stake held by China-based Tencent in Indian online gaming service Dream11 for a reported USD 150 million.The Competition Commission of India (CCI) has approved the proposal of Tiga Acquisition Corp III of “certain preferred stock of Dream Sports Inc (DSI), along with certain rights, from an existing shareholder”. The US-based DSI conducts India operations through its subsidiary, Sporta Technologies Pvt Ltd., which owns a portfolio of leading sports tech brands like Dream11 and FanCode.

Between Jan 2015 and Nov 2021, Dream11 had raised over USD 1,648 M from Tencent, Alpha Wave Global, D1 Capital Partners, DST Global, Footpath Ventures, RedBird Capital Partners, Tiger Global, TPG Capital, ChrysCapital, Steadview Capital, TCV, Multiples PE, Kalaari Capital and Think Investments.