Tencent is reportedly advancing talks with Mumbai-based fantasy sports platform Dream 11 on an estimated 100 million investment, according to Economic Times reports.

A source familiar with the deal said transaction details provided by Tencent estimate Dream 11’s valuation at $400 to 450 million.

If successful, the deal could potentially change India’s growing gaming industry. The investment in Dream 11 would be the second major deal Tencent closed in India in the past two months. In February, the Chinese internet giant agreed to lead a $115 million investment in music streaming service Gaana.

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Nicole Jao

Nicole Jao is a reporter based in Beijing. She’s passionate about emerging trends, news, and stories of human interest within the world of technology. Connect with her on Twitter or via email: nicole.jao.iting@gmail.com.