SINGAPORE: ONE Championship, Asia’s leading mixed martial arts (MMA) promotion, closed a $150 million fund raise just ahead of the Christmas break.
The equity financing round was led by Guggenheim Investments, the global asset management and investment advisory division of Guggenheim Partners, and Qatar Investment Authority.
The investment was made in parent company Group ONE Holdings.
Singapore’s The Business Times quotes ONE, a mixed martial arts promoter and sports media property, as having said it will use the fresh funds to diversify its content offering and further expand outside Asia. The company has plans to target the US market, home to Ultimate Fighting Championship, the world’s biggest MMA promotion.
“This new round values One Championship well north of $1 billion,” a source close to the company (founder Chatri Sityodtong) told Tech in Asia.
Earlier this month, shareholders in One Championship had converted their convertible notes into equity shares in the company. These shareholders include Temasek and Sequoia.
ONE’s latest round of funding comes as it pursues a public listing, with a special purpose acquisition company (SPAC) deal reportedly one of the options.
The market for global mixed martial arts is expected to grow at a compounded annual growth rate of 6.1% from 2021 to 2026, Tech in Asia reports.
Harvard graduate Sityodtong, who founded ONE Championship in 2011, has a stated aim to grow the company into a $100 billion global sports platform.
