Dream11 valuation to double with expected $200mn funding round: Report

Dream11 valuation may just double to $ 2.25 billion following another expected round of funding. The Unicorn fantasy sport platform, with the present $ 1.1 billion estimated valuation, is reportedly expecting $ 150 million to $ 200 million in the next funding round. Negotiations are reportedly in final round.

Dream11 engaged in another funding round negotiations with three leading global private equity firms – TPG, Advent and Lupa Systems – as well as Indian company Chrys Capital, business daily Economic Times has reported.

The daily, citing sources, has further added that Sunley House Capital Management might also join the consortium heading to ink the investment deal with the fantasy sports platform.

The latest funding round will reportedly incorporate secondary sale of shares, leading into the exit of Kalaari Capital, Multiples Alternate Asset Management and San Francisco-based Think Investments.

TPG, Advent, Lupa Systems and Chrys Capital have reportedly declined to comment on the development. However, it is reported that the final set of documents may be signed this week. This will follow the customary due diligence.

Dream11 last year had reported a revenue of ₹ 800 crore – up almost 350% from ₹ 230 crore. However, in spite of more than three-fold rise in the income, the company’s losses had doubled from ₹ 65 crore to ₹ 130 crore.

The official fantasy games partner of the Indian Premier League and the Board of Control for Cricket in India, Dream 11 claims to have over 70 million users.