Avendus Capital advises Dream Sports on USD 840 million investment from Falcon Edge, DST Global, D1 Capital, RedBird Capital, Tiger Global and existing investors

Service

Private Equity

Sector

Digital & Technology

Date

November 2021

Deal Value

USD 840 million

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Dream Sports, India's leading sports tech company with brands such as Dream Capital, FanCode, Dream11, DreamSetGo, Dream Game Studios, and DreamPay in its portfolio, today announced the completion of an investment of USD 840 million at a USD 8 billion valuation, led by Falcon Edge, DST Global, D1 Capital, RedBird Capital and Tiger Global. The round also saw participation from existing investors like TPG and Footpath Ventures, making it amongst the largest investments globally in the sports tech sector.

Avendus Capital acted as exclusive financial advisor to Dream Sports on this transaction.

Commenting on the investment, Harsh Jain, CEO and Co-Founder, Dream Sports said, “Our vision and mission is to create an entrepreneur-led virtuous cycle of investment, innovation and wealth creation for all stakeholders in the sports ecosystem, from fans to athletes, teams and leagues. Our investors have deep experience in developing sports ecosystems globally, and we are fortunate to have their guidance to ‘Make Sports Better’ for 1 billion Indian sports fans.”

Rahul Mehta, Managing Partner at DST Global said, "We're excited to partner with the Dream Sports family in their vision of building the leading end-to-end sports tech company in India. We're very impressed with their customer centric approach, product strategy and ability to strengthen connections between fans and their favourite sports.”

Karan Sharma, Executive Director and Co-Head, Digital and Technology Investment Banking at Avendus Capital said, “Dream Sports has built one of the largest sports ecosystems in the world and we are proud to have partnered with the Dream Sports team through this journey. The company has built a diverse set of portfolio of brands which offer a multitude of sports and gaming opportunities to a user. While doing this, Dream Sports has maintained its phenomenal growth trajectory and has cemented itself as one of the largest sports tech brands in the country.”

About Avendus

Avendus Group is a leading financial services firm with presence in the areas of Investment Banking, Wealth Management, Credit Solutions and Asset Management. Established in 1999 in Mumbai, India, Avendus is today present in 10 cities across India, US, UK and Singapore. Avendus partners with the Indian entrepreneur ecosystem to provide differentiated solutions that enable clients to meet their strategic aspirations.

Avendus Capital, the investment banking arm, is consistently ranked among the top investment banks in the country on the back of its in-depth domain understanding and a best in the class track record of domestic and cross-border transactions. Avendus’s wide range of clients is testimony to its ability to serve its corporates throughout their life cycle – from growth stage funding to large-sized transactions, and M&A advisory.

Avendus Capital Inc located in New York is an Avendus Group entity offering M&A and Private Equity syndication services to clients in the US.

For more information, please visit www.avendus.com

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