Footpath Ventures may pick a stake in Rajasthan Royals
US-based investment firm Footpath Ventures is in advanced talks to pick up a stake in the Rajasthan Royals franchise of Indian Premier League at an estimated post-money valuation of $800-850 million. Footpath Ventures – an investor in Indian unicorns like Dream11 and Zetwerk – is expected to lead a funding round of between $50 million and $80 million as the IPL franchisee is engaging with other investors, too.
It is not clear yet if Tiger Global still is going to invest in Rajasthan Royals as its global head for private investments Scott Shleifer is now stepping down from his role after the fund recorded losses on its private investments following markdowns in valuation of its startup bets globally.
In 2021, US sports investor RedBird Capital Partners – which has stakes in Liverpool football club and Boston Red Sox baseball team – had picked up a 15% stake in Rajasthan Royals at a valuation of over $250 million.
