Dream11 becomes the first Indian gaming company to be a unicorn

In a secondary deal, Steadview Capital buys shares from existing investors Kalaari Capital, Think Investments & Multiples Equity

Dream11, India's biggest sports game on Tuesday announced the completion of a secondary investment by Steadview Capital, an Asia-focused alternative asset manager. This investment marks Dream11's entry into the 'Unicorn Club' as the first Indian gaming company to achieve this milestone. Start-ups valued at $1 billion or more are called unicorn but Dream11 valuation was not disclosed.

Apart from Steadview Capital, Kalaari Capital, Think Investments, Multiples Equity and Tencent are the other marquee investors in Dream11. As per the IFSG-KPMG report, in terms of total user base on a fantasy sports platform, Dream11 is the market leader with over 50 million