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Tiger Global's Multi Million Dollar Investment in Rajasthan Royals: A Game Changing Move in India's Sporting Economy

sports News

In an exciting development for sports and investment enthusiasts alike, Tiger Global, the renowned technology-focused investment firm, is reportedly on the verge of acquiring a stake in the Indian Premier League (IPL) team Rajasthan Royals. According to a recent report by the Economic Times, Tiger Global is set to inject a substantial $40 million into Rajasthan Royals, subsequently raising the team's valuation to an impressive $650 million.

The report suggests that Tiger Global's investment may take the form of either a direct or indirect infusion of capital. It is speculated that the firm may support one of the existing shareholders of Rajasthan Royals, signaling their interest in the team and the IPL as a whole.

Tiger Global's track record speaks for itself. Notable for their early investment in e-commerce giant Flipkart, they have played a significant role in fueling the growth of several unicorns and

upcoming soonicorns. However, this potential investment in Rajasthan Royals comes at a time when the technology and startup sectors are grappling with concerns of a slowdown and a scarcity of funding opportunities.

If the investment materializes, Tiger Global's involvement with Rajasthan Royals would mark a significant foray into India's sporting economy, extending their reach beyond the realm of digital commerce. While Tiger Global has reportedly engaged in discussions with other IPL franchises, insiders familiar with the matter believe that the deal with Rajasthan Royals is most likely to come to fruition.

For Tiger Global, acquiring a stake in Rajasthan Royals represents an opportunity to diversify their portfolio beyond the tech sector. It's worth noting that the firm already holds a share in the prominent online fantasy gaming platform Dream Sports, showcasing their interest in the convergence of technology and sports entertainment.

Aside from their notable investments

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in Flipkart, Zomato, Ola, and Delhivery, Tiger Global has also ventured into non-tech sectors. They have made strategic investments in popular quick-service restaurant chain Wow! Momo and the thriving tea chain Chaayos. These moves illustrate Tiger Global's commitment to expanding their presence in India, a journey they embarked upon nearly 15 years ago.

Rajasthan Royals, through their parent entity Emerging Media, is primarily owned by UK-based Manoj Badale, who commands a majority stake of over 60% in the franchise. Badale secured the rights to the team back in 2008, and his entrepreneurial vision has played a pivotal role in shaping the Rajasthan Royals' journey in the IPL.

The recent valuation of Rajasthan Royals at over $250 million in a secondary deal involving US-based RedBird Capital further underlines the franchise's potential and attractiveness to investors. However, their hopes of clinching a spot in the IPL 2023

playoffs were dashed by the Mumbai Indians' dominant eight-wicket victory over the Sunrisers Hyderabad.

Meanwhile, in a separate funding round, popular fintech firm PhonePe announced securing an additional investment of USD 100 million from General Atlantic. Interestingly, during this funding round, Tiger Global, along with Ribbit Capital and TVS Capital Funds, also contributed to PhonePe's growth. This highlights Tiger Global's continued interest in diverse investment opportunities across various sectors.

In conclusion, Tiger Global's potential investment of $40 million in Rajasthan Royals has captured the attention of both sports and investment enthusiasts. Should the deal come to fruition, it would mark a significant milestone for the firm's entry into India's sporting economy and diversification beyond their technology-focused investments. As the IPL continues to grow in popularity and economic significance, Tiger Global's move could signal a broader trend of convergence between technology, sports, and investment in the country.


wsn team is a Writer at WSN TIMES and has been covering the latest news. He covers a wide variety of news from early and late stage.

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