HomeBusinessCompaniesTiger Global eyes stake in Rajasthan Royals, could invest $40 million: Report

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

According to a story in the Economic Times, the investment firm Tiger Global, which is well-known for its wagers on fledgling technology companies, is considering purchasing a share in the Indian Premier League team Rajasthan Royals.

According to the article, which cited individuals with knowledge of the specifics, Tiger Global is considering making an investment of about $40 million in the Rajasthan Royals at a value of $650 million.

This decision comes at a time when the economy of the IT industry and new businesses is struggling under the weight of concerns about a recession as well as a funding winter that has caused fresh channels of finance to dry up.

A recent study by Moneycontrol said that Sequoia, Tiger Global, and SoftBank, the three largest startup investors in India, had only struck 11 transactions so far in this calendar year compared to the total of 60 deals they closed during the same time period in the previous year.

This demonstrates how much the fundraising winter is harming the ecosystem of startups.

Famous investors like Tiger Global have significantly aided the production of unicorns and soonicorns (companies that are on their way to becoming unicorns). One of Flipkart’s early supporters was the investment firm Tiger Global.

According to the research from Moneycontrol, Tiger Global spent more than $6.1 billion on more than 240 different agreements between 2014 and 2022.

The acquisition of a stake in the Rajasthan Royals may be a step towards diversification into non-tech sectors. In addition to this, it has a stake in the massive online fantasy game company known as Dream Sports.

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