Fanatics Inc. has raised about $700 million from a group of investors, pushing the sports-merchandising company’s valuation to $31 billion, according to people familiar with the matter.
About two-thirds of the new money came from parties that hadn’t previously invested in the company, including private-equity firm Clearlake Capital Group LP, which led the round, and investment and merchant-banking firm LionTree LLC, the people said. Prior Fanatics investors such as Silver Lake, Fidelity Management & Research Co. and SoftBank Group Corp. were also among the participants, they said.
Fanatics Inc. has raised about $700 million from a group of investors, pushing the sports-merchandising company’s valuation to $31 billion, according to people familiar with the matter.
About two-thirds of the new money came from parties that hadn’t previously invested in the company, including private-equity firm Clearlake Capital Group LP, which led the round, and investment and merchant-banking firm LionTree LLC, the people said. Prior Fanatics investors such as Silver Lake, Fidelity Management & Research Co. and SoftBank Group Corp. were also among the participants, they said.