U.S. HISPANIC
Fz Sports raised US$74MM financing to further expand sports rights management in LatAm
Maribel Ramos-Weiner| 16 de junio de 2023
Matías Rivera de Fanatiz
Fz Sports has raised US$74MM in growth funding that will enable the company to further expand its work with Latin American sports rights and accelerate the growth of the Peruvian Liga1 business that Fz Sports has developed via its subsidiary 1190 Sports.
The fast-growing company – which operates 1190 Sports, Fanatiz, and Nunchee – has become a leader in Latin America at the intersection of sports rights, technology, and innovative business models, leveraging associative partnerships with premier sports organizations including the Argentine, Brazilian, Chilean and Peruvian soccer leagues and federations.
The financing, which includes debt and equity capital, was provided by 777 Partners, MEP Capital, Torneos, Serengeti Asset Management, and Magma Partners, among others.
“This financing will allow us to continue supporting and boosting the sports rights management and distribution of several of the most important leagues and federations in the region,” said Matías Rivera, CEO & Co-Founder of Fz Sports.
“We are thrilled to continue supporting this management team in the rapid expansion of their business, which has grown close to 60x since we led their Series A in 2019. The new capital provided by 777 Partners will fuel the growth of Fz Sports, which is transforming how soccer is produced and consumed”, said Juan Arciniegas, managing director and Head of Sports, Media, and Entertainment at 777 Partners.
“Matias and the entire Fz Sports team have done an outstanding job growing Fz into a market leader in the management of sports media rights in Latin America and have quickly become a key partner to some of the top soccer organizations in the region. We believe they have a tremendous opportunity in front of them and look forward to working closely with the Fz team to support the continued growth of the business,” said MEP Capital Partner Matt Cohen.
Jody LaNasa, Serengeti Asset Management’s founder and chief executive, said: “We’ve worked alongside Fz & 1190 Sports in various capacities and continue to be impressed by their management’s unparalleled ability to drive results for the clubs and their investors, improving the overall product for consumers.”
Houlihan Lokey served as Fz Sports’ exclusive financial advisor in connection with this transaction.
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