Fz Sports Secures $74 Million in Growth Funding for Media Rights
Summary
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 [Latin American] region, said Mat\xedas Rivera, the CEO and co-founder of Fz Sports.Founded in 2017, Fz operates three independent businesses: sports right management company 1190 Sports, the white label direct-to-consumer streaming service provider Nunchee and the global streaming service Fanatiz. Fanatiz raised a $10 million Series A funding round from 777 Partners, a Miami-based boutique investment firm, in 2019.Fz currently manages the international broadcasting rights of top-flight soccer leagues in Brazil, Argentina, Chile and Peru. As part of these partnerships, the company provides its proprietary streaming platform and digital rights management services for direct-to-consumer distribution for official league streaming platforms AFA Play (Argentina), Brasileirao Play (Brazil) and Liga1 Play (Peru). Additionally, Fz is part of the consortium that manages the broadcasting, image and sponsorship rights of the Chilean national soccer teams for the 2023-2026 period and the sponsorships for the Peruvian national soccer team.We are thrilled to continue supporting this management team in the rapid expansion of their business, which has grown exponentially since we led Fanatiz Series A in 2019, said Juan Arciniegas, the managing director and head of sports, media and entertainment at 777 Partners. Since then, the firm built up a global, multi-club network that includes several soccer clubs, such as Italys Genoa CFC, Brazils Vasco de Gama and Spains Sevilla FC.