Dream11 Plans Out Successful Exit For Early Backers Kalaari, Multiples & Think
Mumbai-based fantasy gaming unicorn Dream11 has decided to give up on fundraising through primary funds, but will focus more on secondary transactions from now to provide successful exits for its early backers — Kalaari Capital, Multiples Alternate Asset Management, Think Investments and others. According to an Economic Times report, the existing investors have been shedding portions of their shareholdings in Dream11 since 2018. Commenting on the same, Dream11 cofounder Harsh Jain, “I wouldn’t expect any kind of primary raises anytime in future. Dream11 became the first Indian startup to become the title sponsor of IPL, replacing China-based smartphone manufacturer Vivo. The league’s name itself is rebranded to include the name of the title sponsor, as in ‘Dream11 IPL’.