Sports technology and sports company Dream Sports has raised USD 400 million in a financial round led by the independent equity company TCV, D1 Capital Partners and Falcon Edge.
The round also drew on existing investors such as Tiger Global, ChrysCapital, TPG Growth, Steadview Capital and Fotpath Ventures, Dream Sports said in a statement.
Falcon Edge Capital, co-founded by Navroz Udwadia, has invested in Alpha Wave, which seeks high-quality global growth assets, the sports company said.
This is the largest investment in the Indian sports techs system to date, the statement said.
“This is a huge vote of confidence in India’s first ecosystem. We have created a Fantasy Sports section in India to drive digital engagement in real sports events and bring fans closer to their favorite sport.
“We are proud to continue to contribute to the expansion of the Indian sports environment,” said Dream Sports chief executive and founder Harsh Jain.
An Indian Indian company founded in 2008 by Harsh Jain and Bhavit Sheth, Dream Sports is based in Mumbai and employs about 600 people.
TCV General Partner Gopi Vaddi said, “India is home to the world’s largest and most powerful fan base with the strongest mix on the continent. Dream Sports helps this community by providing the latest products.”
Avendus Capital was a special financial adviser to Dream Sports for the program, the statement said.