UC Investments-backed sports media company SpringHill was valued at $725m in a round that included the university and several corporates.
SpringHill, a US-based sports entertainment studio, has raised a “significant” amount of money from investors including University of California’s UC Investments vehicle at a $725m valuation, according to Forbes.
Sports equipment producer Nike, computer game producer Epic Games and sports team owner Fenway Sports Group (FSG) also joined investment firm and FSG affiliate RedBird Capital Partners, which led the round.
Founded by basketball professional LeBron James, SpringHill produces a range of entertainment content across mediums like television, film, gaming and audio. It also sells fashion and apparel through its Uninterrupted brand.
James and his business partner, SpringHill chief executive Maverick Carter, have retained their controlling stake in the business following the deal.
The deal is poised to fuel a major expansion for SpringHill, with Nike reportedly tapped to collaborate on licensing deals in fashion and commerce, Epic Games to expand its presence in the gaming sphere and FSG, which owns…
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
