New Delhi: According to media reports, Tiger Global is currently engaged in discussions to acquire a stake in the Rajasthan Royals, a team in the Indian Premier League (IPL), marking its entry into one of the world’s largest sports leagues.
Sources familiar with the matter revealed that Tiger Global is considering an investment of approximately USD 40 million in the Rajasthan Royals, valuing the team at USD 650 million.
This move by Tiger Global comes during a period when the technology and startup industry is facing challenges due to concerns about a slowdown and a decline in available funding. A recent report highlighted that India’s top three startup investors, namely Sequoia, Tiger Global, and SoftBank, have been involved in only 11 deals thus far in the current calendar year, compared to 60 deals during the same period last year.
Between 2014 and 2022, Tiger Global reportedly invested over USD 6.1 billion in 240 different deals. The potential acquisition of a stake in the Rajasthan Royals could be seen as a strategy to diversify its portfolio into the non-tech sector. Tiger Global already holds a stake in Dream Sports, an online fantasy gaming giant.
By venturing into the Indian Premier League through the Rajasthan Royals, Tiger Global aims to tap into the vast potential and popularity of the league, which has a significant following both domestically and internationally. The acquisition could provide Tiger Global with a unique opportunity to benefit from the immense growth and revenue potential of the IPL and the wider sports industry in India.
