New York-based Tiger Global Management, one of the most active startup investors in India, is likely to lead a $500 million funding round in fantasy gaming platform Dream11, three people aware of the matter said. While Dream11 and Tiger declined to comment, Credit Suisse did not respond to an email seeking comment. In Byju’s case, as well as Dream11, Tiger is writing its first cheque at a mature stage for the company. Dream11 became a unicorn, valued at over a billion dollars ($1.1 billion), in April, when US-based hedge fund Steadview Capital led a $60 million round by purchasing secondary stakes from early investors. The company was valued at $700 million in September 2018, when it raised $100 million from Chinese internet giant Tencent.

Source: Mint January 26, 2020 17:03 UTC