Tiger Global eyes stake in Rajasthan Royals, could invest $40 million

By siliconindia  |  Monday, 22 May 2023, 09:44 IST

Tiger Global eyes stake in Rajasthan Royals, could invest $40 million
Tiger Global, known for its bets on budding tech startups, is eyeing a stake in Indian Premier League's franchise Rajasthan Royals. Tiger Global is looking to invest around $40 million in Rajasthan Royals at a $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.
This shows how deeply funding winter is impacting the startup ecosystem Marquee investors like Tiger Global have been instrumental in producing unicorns and soonicorns (soon-to-be-uniconrs). Tiger Global was one of the early backers of Flipkart.
Between 2014 and 2022, Tiger Global invested more than $6.1 billion across 240 deals, the report said. The Rajasthan Royals stake could be a move to diversify into non-tech sector. It also holds a stake in online fantasy gaming giant Dream Sports.

CURRENT ISSUE

BEST STARTUPS TO WORK FOR


Top Banner

siliconindia