The SoftBank and Alibaba-backed sports memorabilia retailer doubled its valuation to $12.8bn in a late-stage round that took its total funding near the $2bn mark.

Fanatics, a US-based sports goods vendor that counts internet and telecommunications group SoftBank and e-commerce firm Alibaba as backers, has raised $320m, CNBC reported yesterday.

Sporting league manager Major League Baseball (MLB) and financial services and investment group Fidelity Investments took part in the round, as did Franklin Templeton, Neuberger Berman, Silver Lake and Thrive Capital.

Founded in 2002, Fanatics sells sports memorabilia and collectibles both online and in physical stores covering professional leagues such as MLB, Major League Soccer,…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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