Online gaming company Dream11, which is the IPL’s new title sponsor, is in talks with several PE and VC firms to raise $50 million (Rs 375 crore), according to its communication to its investors. The latest funding round will further reduce the stake of existing investors like China’s Tencent.
According to people privy to the development, the funding round will pave the way for new investors, with existing ones such as Multiples Alternate Asset Management expected to dilute their holdings further. While Tencent’s exact holding in Dream11 is unclear, the ...
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