ONE Championship has secured a significant equity investment led by Sequoia and Mission Holdings bringing its total capital raised to $100 million. It brings the Singapore based MMA promotion a step closer to its much touted billion dollar valuation.
New and existing investors also participated in this investment round, according to a ONE Championship statement.
“I am thrilled to announce this partnership with Sequoia. As one of the most successful venture capital firms in the world, Sequoia has an unparalleled track record of partnering with early stage companies and helping to build them into global market leaders,” stated Chatri Sityodtong, Chairman and CEO of ONE Championship. “I am confident that Sequoia’s expertise, network, and resources will contribute significantly to ONE Championship’s success.”
The list of companies that Sequoia has previously made early stage investments in is impressive and includes Apple, Google, Whatsapp, Instagram, Oracle, YouTube, Cisco, Paypal, Zappos, Dropbox, Yahoo, Electronic Arts, Symantec, Airbnb, and Linkedin, although ONE Championship represents the fund’s first venture into the world of sport entertainment.
Joining Sequoia in this investment round is Mission Holdings, while Heleconia, a subsidiary of a national wealth fund belonging to the Singapore government, is an existing ONE Championship investor. According to Sityodtong, this gives his company an edge over its competitors.
“ONE Championship has arguably the most blue-chip institutional shareholder group in the sports media industry in Asia today. The combination of Sequoia, Mission Holdings, and Heliconia Capital Management creates a meaningful competitive advantage for ONE Championship.”
ONE Championship was founded in 2011 and has put on cards all over Asia. Next week, the promotion has an event booked in Indonesia with shows coming up in Macau and Malaysia the following month and cards in China and Indonesia in September.
(Follow @JamesGoyder on Twitter | Photo courtesy of ONE Championship)