According to industry sources, the round values ONE Championship at close to $1 billion.
With this round, ONE Championship has now raised a total of $266 million from investors. The company said it plans to use the proceeds to strengthen its leadership in the sports media market in Asia.
ONE Championship is the organiser of MMA fights such as Grit and Glory in Jakarta, Unstoppable Dreams in Singapore and Battle for the Heavens in Shanghai. It has earlier revealed plans to expand its events, partnership deals and digital offerings.
Led by former MMA champion Chatri Sityodtong, ONE has previously raised funding from Sequoia India in 2017 and Heliconia Capital Management, a unit of Temasek Holdings, in 2016.
The Singapore-based firm covers a wide range of martial arts including Muay Thai, Kickboxing, Karate, Kung Fu, Silat and Sanda. It claims to broadcast to over 1.7 billion potential viewers across 138 countries.
ONE Championship also hosts some of the largest sports entertainment events in Asia in partnership with broadcasters such as Fox Sports, ABS-CBN, Astro, ClaroSports, Bandsports, Startimes, Premier Sports, Thairath TV, Skynet, Mediacorp and OSN.
How a casual elevator chat sealed the deal for Sequoia in 2017
In July last year, Singapore-based sports media brand ONE Championship announced that it had secured a major equity investment led by venture capital firm Sequoia India and Mission Holdings, bringing its total funding raised to over $100 million.
Interestingly, for Sequoia Capital, which has come back to invest in One Championship’s Series D round propelling it possibly close to the unicorn orbit, it was a chance encounter while waiting for an elevator that the journey of its association with the Chatri-led firm began.
Sequoia Capital (India) Singapore Pte. Ltd managing director Shailendra J Singh, had tweeted on July 20, 2017, “10 wks ago, casual chat while waiting for a lift, heard abt @YODCHATRI and @ONEChampionship journey … thrilled & excited to lead new round.”
“We have arguably the most blue-chip institutional shareholder base in all of Asia for a sports media property. We have raised $100 million in total so far,” the 46-year old Sityodtong (who is known by his first name) had said, in an earlier wide-ranging interview, when asked about the investment round (2017) that was led by Sequoia.