Frontrunners have emerged in the race to grab a slice of leading fantasy sports platform Dream 11, with two US institutional investors reportedly set to put in US$150-200 million (approx. Rs. 1,100-1460 Crores).
According to sources quoted in VCCircle (behind paywall), US private equity firms TPG Capital and Insight Partners are in pole position to join the gaming unicorn as primary investors.
An investment of the size quoted would give Dream11 a valuation of $2 billion (Rs 14,644 crore), just a year and a half after joining the unicorn club.
In January this year, it was reported that Dream11 was looking to raise $500 million from various. The talks ended in March, without success and the identity of the suitors wasn't identified.
Neither the investors mentioned nor Dream11 wanted or responded to a request for comment for the VCCircle article.
We previously reported how Dream11 was closing in a US$235 funding deal in August, which could see major investor Tencent's share in the firm drop to single figures.
It's set to be a crucial few months for Dream11. The new IPL title sponsors will be hoping to maximise that partnership as IPL 2020 finally gets underway later in September and solidify their position as the largest fantasy operator in India.