Dream Sports launches $250 million fund to invest in sports, gaming, fitness-tech startups
Dream Sports, the parent of fantasy gaming app Dream11, has launched a $250 million fund to invest in sports, gaming and fitness-tech startups, its latest attempt to diversify and attract more users.
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Dream Sports, the parent of fantasy gaming app Dream11, has launched a $250 million fund to invest in sports, gaming and fitness-tech startups, its latest attempt to diversify and attract more users.
Dream Capital- the corporate and mergers and acquisitions arm will invest between $1 million and $100 million across stages, open to taking a minority stake or acquiring companies outright. Dream Capital is being funded by Dream Sports balance sheet- which means that the TPG-backed unicorn is using its reserve profits to invest in such new initiatives.
"Dream Sports has a collective user base of 125 million sports fans, and we recognise the great growth opportunities in sports, gaming and fitness-tech in India. As entrepreneurs ourselves, we are here to back other entrepreneurs through Dream Capital and provide them with access to our 125 million-strong user base and operational support from our expert team of CXOs," Dream Sports co-founder and CEO Harsh Jain said.
It has made eight investments so far, including DreamGameStudios, a mobile gaming studio, SoStronk - an esports platform for competitive gamers and Elevar - a performance sports footwear and equipment brand. Its other large investment also includes FanCode, a subscription-based sports streaming platform.
"As a multi-stage CVC (corporate venture capital fund), we provide patient capital plus deep tactical insights to startups to increase their probability of success. Our aim is to complement entrepreneurs with our strategy, product, and marketing knowledge that is not typically accessible at an early stage," said Dev Bajaj, managing director of Dream Capital.