Tiger Global To Buy Stake In Rajasthan Royals?
The US fund raiser and unicorn maker entered India in 2007, but only went on a major investment spree from 2014 onwards. Tiger Global have backed the likes of Flipkart , Zomato , Ola , Policybazaar.com , Dream11 / Sports and others. But with the hyperlocal bubble burst in 2016, Tiger slowed down its deal-making in India. Even though it had a significant share of the unicorn club till before the pandemic, it was in 2021 that Tiger Global Management its positioning in the Indian Market as a unicorn maker.
But while its portfolio includes some of the biggest startups in India, there is also plenty of trouble in the likes of BharatPe , Ola, PharmEasy , ShareChat , GoMechanic.in and others, who have come under the spotlight for controversies such as corporate governance issues, fraud, slowdown in business leading to uncertain futures for many. With significant changes to its strategy, Tiger Global is now is eyeing a stake in Indian Premier League India franchise Rajasthan Royals, Economic Times has reported. The Rajasthan Royals stake could be a move to diversify into non-tech sector given the roadblocks Tiger Global has faced in the past years.
The investment is said to be in the range of around $40 million in Rajasthan Royals at a $650 million valuation, the report cited people privy with details. The capital infusion could be a direct or an indirect one, wherein Tiger Global may back one of the shareholders in Rajasthan Royals. The investor reportedly held talks with other franchises also but the deal with Rajasthan Royals is likely to materialise soon, the financial daily said.
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1 年This should be a really great boost for both the parties involved! seems like Tiger Global is a tad bit late and should have done it earlier. BigHit Sportz #bighitsportz #indiansports #ipl #investments
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1 年We need more investments on these lines in other leagues as well! high time investors start identifying other sports for better sports development in India.