Dream11 won’t raise funds from Chinese investors ever again: CEO Harsh Jain

Mumbai: Dream Sports, which is currently executing a secondary sale of shares that will value the online fantasy sports platform at $4 billion, won’t raise any fresh capital from Chinese investors in the future, its founder and Chief Executive Officer Harsh Jain told ET.

Tencent Holdings Ltd., a Chinese multinational that owns the hugely popular messaging app WeChat, owns less than 10% of Dream Sports, Jain said in an exclusIve chat, and has been diluting its stake in the firm amid a larger anti-China sentiment in India owing to geopolitical tensions between the two nations.

However, Jain did not offer any details on whether Tencent would further dilute its stake in the company. “We are not looking to raise money ever again from Chinese investors.