Major investment secured by Indian daily fantasy sports firm

The Asian internet and e-commerce giant Tencent is reportedly one of several backers behind a major investment – said in some reports to top $100 million – in Indian daily fantasy sports company Dream11 Fantasy Pvt.

The deal values Dream11 at around $750 million. Post the deal, founder Harsh Jain’s stake in the company will reduce to around 35 percent.

A spokesman for the Mumbai-based company confirmed the involvement of Tencent, along with existing investors, but declined to quantify the fresh capital.

See a video news report here: https://www.cnbctv18.com/videos/technology/tencent-holdings-buys-majority-stake-in-gaming-app-dream11-fantasy-738911.htm

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