Tiger Global To Invest $40mn In Rajasthan Royals At $650mn Valuation: Report
According to media reports, private equity firm Tiger Global is likely to invest USD 40 million in the franchise at a valuation of USD 650 million. In the sports economy, Tiger Global has already invested in India's Dream Sports, which owns the fantasy gaming platform Dream 11
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Tiger Global is in talks to acquire a stake in Indian Premier League's team Rajasthan Royals, making its foray into one of the biggest sports leagues in the world, according to media reports.
Tiger Global is looking to invest around USD 40 million in Rajasthan Royals at a USD 650 million valuation, the report cited people privy with details.
The move comes at a time when the tech and startup economy is reeling under the impact of slowdown fears and a funding winter that has dried up new channels of financing. A recent report said that India's three biggest startup investors, Sequoia, Tiger Global and SoftBank, have struck only 11 deals so far in this calendar year compared to 60 in the same period last year.
Between 2014 and 2022, Tiger Global invested more than USD 6.1 billion across 240 deals, the report said. The Rajasthan Royals stake could be a move to diversify into the non-tech sector. It also holds a stake in online fantasy gaming giant Dream Sports.
