The Chernin Group leads $263 million investment in Funko
2022.05.06 01:07
(Reuters) – The Chernin Group, an investment firm known for backing emerging media, commerce and technology industries, announced on Thursday that it will lead a consortium making a $263 million investment in the lifestyle brand Funko (NASDAQ:FNKO) Inc.
TCG and its investor consortium are acquiring 12.5 million shares of Funko Class A stock from ACON Investments, and will own a 25% share of the company following completion of the transaction. Other investors include former Disney CEO Robert A. Iger, Rich Paul, chief executive and founder of Klutch Sports Group, and eBay Inc (NASDAQ:EBAY).
As part of the online marketplace’s investment, eBay will become a preferred secondary market for Funko, a maker of toys, stuffed animals, apparel, board games and other collectibles including digital nonfungible tokens.
