One Championship wins $150m in new round (Updated)

Update (Dec. 24, 1 p.m. SGT): This article was updated to include the latest fundraising information from One Championship and to clarify the US$179 million convertible notes.

One Championship, the Asian mixed martial arts (MMA) company, has closed a US$150 million equity financing round led by two new global investors, Guggenheim Investments, the global asset management and investment advisory division of Guggenheim Partners, and Qatar Investment Authority.

Photo credit: One Championship

“This new round values One Championship well north of US$1 billion,” a source close to the company told Tech in Asia.

The platform will use the funding for diversifying its content offerings in live sports and general entertainment businesses, and further expand outside 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 Championship bills itself as Asia’s leading mixed martial arts (MMA) entity and broadcasts the sport to over 2.7 billion potential viewers across more than 150 countries.

The market for global mixed martial arts is expected to grow at a compounded annual growth rate of 6.1% from 2021 to 2026.

See also: Are One Championship’s fiercest critics right about the company?

One Championship was founded in 2011 by Chatri Sityodtong, a Harvard graduate who aims to grow the company into a US$100 billion global sports platform.