Fanatics Raised $300m From Silver Lake

Fanatics, an online seller of branded sports team gear, sold a minority ownership stake to Silver Lake for $300m.  The company has been majority-owned by Kynetic LLC, an eBay spinoff.  The investment is all for primary shares, meaning that existing Fanatics investors will hold onto their stock.  It is not clear how large Silver Lake’s minority position would be, or if Kynetic would remain majority shareholder.  The company has previously raised $450m in minority equity funding from Andreessen Horowitz, Insight Venture Partners, and Alibaba Group.

Kynetic is a member of the Triton Research IPO Watchlist, a continuously updating database of companies we expect to either IPO or be acquired.  The current IPO Watchlist is comprised of 108 companies organized by investment theme.