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Dream11 Might See New Investor As Tencent Looks To Disinvest

Dream11 is one of the most popular online gaming apps in India, and now, it might see a change in investors. Tencent, the Chinese company that had previously invested in Sporta Technologies Pvt Ltd, the parent company of Dream11, is planning to offload its $150 Million investment.

Industry insiders say that Singapore-based Tiga is interested in that stake; at the time of writing this article, this is a rumour, so there are no concrete numbers available. Dream11 is a fantasy gaming app that allows users to create virtual cricket teams comprising real-life players. The user then earns points based on the performance of their team members. which can then be converted into real money.

It is extremely popular in India, and players all over the country log in to play fantasy cricket during famous cricket tournaments, including the IPL and the World Cup. Dream11 currently has age restrictions, and individuals who wish to sign up with Dream11 need to submit a PAN card.

Tencent’s relation with Dream11, and its other investments

Tencent entered Dream 11 in 2018 with a ₹719 Cr investment. The other investors in Dream11 are Steadyview Capital, Kalaari Capital, Think Investments and Multiples Equity. Experts think Tencent’s withdrawal could be due to India’s crackdown on foreign investments in Indian companies, particularly Chinese and gaming companies.

Tencent is a Chinese multimedia conglomerate with interests in the media and entertainment industry, including video gaming and movies. Its most popular acquisition is the MMORPG PUBG. It also owns Tencent Pictures, which has had stakes in movies like Venom (2018).

 

 

 

 

 

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Earlier, brows were raised when Dream11 became one of the IPL sponsors in 2020, even when Tencent owned a 10% to 15% stake. The company has been at the forefront of the Indian gaming scene, with co-founders Harsh Jain and Bhavit Sheth setting it up in 2008. Memberships surged to 1 million in 2014, 2 million in 2016, and 45 million in 2018.

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Industry experts consider Dream11 to be one of the front-runners in the real money and gaming industry in India. It is one of the earliest fantasy game apps to go mainstream, and it has signed Mahendra Singh Dhoni as its brand ambassador. Dream11 was also one of the few apps that saw substantial promotions during the pandemic. 

The online and real-money gaming sector has seen a rise in investments and mergers over the months, with Dream11 being the newest name on the block. Earlier, Nazara Technologies invested in several gaming companies and increased sales just in September 2024.

The latest update is that the Mumbai-based company has increased its stake in Absolute Sports, Sportskeeda’s parent company. Gaming could be the next big thing in India, with even Prime Minister Narendra Modi saying that he wants to see Indians capture the gaming industry.

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