SINGAPORE: Leading Asian mixed martial arts promotion ONE Championship (ONE), Monday announced that it had secured $70 million in fresh funding, bringing total capital to $346 million.
ONE has also “streamlined” operations, including a 20% reduction of total worldwide headcount. ONE reportedly has 380 odd employees on its payrolls currently.
Hua Fung Teh, Group president of ONE Championship, stated: “I am thrilled to announce that ONE Championship closed another round of funding a few weeks ago with existing institutional investors as well as a new institutional investor.
“I am full of gratitude for this strong vote of confidence amidst the worst global economic crisis in 100 years. With 9 figures of cash on the balance sheet and a streamlined organization, ONE Championship looks forward to continuing to delight our fans around the world with more heroes and new experiences for many years to come.”
