ONE said to near $1 billion valuation
ONE Championship is on track to obtain a valuation of about US$1 billion (S$1.33 billion) in its latest round of funding, according to people with knowledge of the matter.
Singapore’s Today Online reports that ONE Championship is said to near a valuation of one billion dollars.
ONE Championship is on track to obtain a valuation of about US$1 billion (S$1.33 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 Singaporean company plans to use the proceeds to expand in China, South Korea, and Japan, they said. ONE is backed by firms including Sequoia India and Heliconia Capital Management, a unit of Singapore state investment firm Temasek Holdings.
A representative for ONE Championship did not immediately respond to an email seeking comment. No final decisions have been made, and details of the fundraising could change, according to sources.
Owner Chatri Sityodtong has one of the most extraordinary life arcs in martial arts. As a child, the Japanese-Thai Chatri began training in Muay Thai under legendary Kru Yodtong (RIP) at Sityodtong Camp in Pattaya, Thailand. In time, Yodtong bestowed on him the name Yodchatri Sityodtong, and appointed him as one of four conservators worldwide of Sityodtong Muay Thai. Chatri was blessed to train with a great, great man, but in other ways, faced enormous hardship.
Chatri’s family lost everything in the Asian financial crisis in the 90s, and he ended up homeless, eating one meal a day. Eventually, his father abandoned the family. But no matter what happened, he fought one more round.
In 1999 Chatri received an MBA from Harvard. Not long after, he joined Bain and Company as a management consultant. For the next several years he was involved in Internet start-ups, investment banking, real estate, and other ventures, making many millions.
In 2008, Chatri founded the Evolve MMA chain of academies. By 2013, Evolve MMA was widely regarded as the top MMA gym in Asia, and Chatri as one of the sport’s top coaches. He has trained, coached, or cornered MMA fighters such as Shinya Aoki, Rich Franklin, Rafael dos Anjos, BJJ world champions Zorobabel Moreira and Leandro Issa Da Silva, and strikers including Muay Thai world champion Yoddecha Sityodtong, and former WBA world champion Yodsanan Sor Nanthachai. He launched Evolve University, Asia’s largest online university for martial arts. He launched Evolve Vacation, combining two of your favorite things. And above all, he is driving ONE Championship to extraordinary heights.
Chatri is also involved with a number of charitable efforts, including Project Sunshine for terminally-ill children, and Singapore’s Boys Town Home for orphans and troubled children. In sum, Chatri Sityodtong is an amazingly great human being, and excellent for the universe.