The round gives Group One a valuation of at least US$1.35 billion, one of the people said. That is similar to the post-money valuation from a previous round in 2021, which QIA led with Guggenheim Investments. 

A representative for Group One confirmed the latest fundraising round, but declined to comment on the amount or other details. QIA declined to comment.

Group One, a rival of Endeavor Group Holdings Inc’s Ultimate Fighting Championship (UFC), agreed a multi-year partnership with Qatar’s BeIN Media Group in 2022, to broadcast events across the Middle East and North Africa. It signed another with Amazon.com Inc’s Prime Video to show at least a dozen events annually in the US and Canada. 

“The company is on the verge of profitability, after a decade of investing in the global brand, live events, world-class athlete roster, and broadcast partnerships,” said Hua Fung Teh, co-founder and president of Group One. 

The company has been considering an initial public offering (IPO) in the US when conditions suit, Bloomberg News previously reported. Group One, which describes itself as Asia’s largest global sports media platform, also runs One Esports. Its other broadcast partners include Sky Sports, Globo, Disney+ Hotstar, and Seven Network, according to its website. 

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