Collectors nets $100 million for collectibles
Collectors Holdings, which authenticates and manages collectibles for hobbyists and investors, raised $100 million in funding at a $4.3 billion valuation, Richard writes.
- The round comes about a year after the company, at the time named Collectors Universe, was acquired by an investor group led by entrepreneur Nat Turner, D1 Capital Partners, Cohen Private Ventures and The Chernin Group.
Why it's the BFD: The global collectibles market, which includes everything from antiques to trading cards to non-fungible tokens, is expected to grow to about $692 billion in 2032 from $412 billion in 2021, according to research firm Market Decipher.
Details: The $4.3 billion is five times the company's $850 million purchase price.
- According to a source briefed on the matter, proceeds will be used for acquisitions in the tech and collectibles sector to help Collectors Holdings scale more quickly.
Of note: Other members of the group that bought Collectors Holdings last year include a prominent pro athlete A-list:
- Kevin Durant, Andy Roddick, Kelvin Beachum, Deshaun Watson and Larry Fitzgerald.
Between the lines: This latest funding coincides with a corporate rebrand. The company is combining offerings, such as authentication, grading services, marketplace and auction platforms, into one place.