Dream Sports, an Indian sports media and technology company, has formed a $250 million corporate venture fund for investing in startups across platforms sports, gaming and fitness technology.
The investment will be done through its newly launched ‘Dream Capital’ arm.
Dream Sports’ Founder and Chief executive Harsh Jain has said that the company is mulling to make investments of more than US$1 million and with the potential to invest as much as US$100 million.
“We want to redeploy our Ebitda and re-invest further into inorganic growth because, while organic growth continues, we don’t want to fall into that age-old trap of trying to do everything ourselves,” Jain was quoted as saying by Economic Times.
“We are good at something, and we’ll continue to grow that. What we do want is to back entrepreneurs, and to invest in other founders,” he added.
According to ET, Dream Capital will be fully funded by Dream Sports. It has already made eight investments.
Dream Sports, which is the parent company of fantasy gaming platform Dream11, already has an investment arm called Dream Sports Investments (DIS).
Recently, DIS had invested US$50 million in FanCode, a multi-sport aggregator platform.