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Mixed martial arts firm is said to near $1.3 bil valuation

Bloomberg Published on Tue, Apr 24, 2018 / 10:47 AM GMT+8

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(Apr 24): Singaporean mixed martial arts firm One Championship is on track to obtain a valuation of about US$1 billion ($1.32 billion) in its latest round of funding, according to people with knowledge of the matter.

The lead investor in this round will account for more than half of the at least US$100 million that One Championship is seeking, with the rest of the deal expected to close by the end of July, the people said, asking not to be identified as the process is private. The company plans to use proceeds to expand in China, South Korea and Japan, they said.

One Championship -- on its way to becoming Asia’s biggest competitor to combat mashup Ultimate Fighting Championship -- is focusing on expanding events, partnership deals and digital offerings, Chief Financial Officer Teh Hua Fung said in an interview this month. The organizer of fights such as Grit and Glory in Jakarta, Unstoppable Dreams in Singapore and Battle for the Heavens in Shanghai, is backed by firms including Sequoia India and Heliconia Capital Management, a unit of Singapore state investment firm Temasek Holdings.