Kedaara Capital Set to Join Dream11's US$200 Million Funding Round

Homegrown private equity investor Kedaara Capital has reportedly entered the﷽ running to invest ꦬin fantasy sports platform Dream11.

Dream11 has revived its plan to ⭕raise US$200 million (approx. Rs. 15,000) from new investors via the secondary and primary sale of shares.

Other funds interested in this opportunity include TPG, Advent International, Lupa Systems, and Chrys Capital, said ♓four people to 💦the , who had knowledge of the happenings.

These investors had already shown an interest before lockdown struck and put a pause on developments. Dream11 could pot൩entially be worth as much as US$2-2.2 billion if the fundraising exercise is successful.

That would double the company's value in just over a year. One unnamed source said: "All the earlier sꦏuitors are back in the reckoning along with some new names who are also keen to join the cap table as the talks have resumed in recent weeks. Even without the IPL, the company has been growing at a fast clip in sports like baseball."

In April 2019, Hong-Kong and London-based investment firm Steadview Capit🐟al bought 🌄a stake worth around US$60 million. That made Dream11 a 'unicorn' - a start-ඣup valued at more than US$1 billion.

Other major investors include Chinese internet goliath Tencent, who operate WeChat. They invested US$100 million in 2018.

Dream11 boast 80 million users in India and saw its revenue up nearly 350% in the fiscal year 2019 compared to 201♏8 - Rs. 800 Crore♔s to Rs. 230 Crores.