- Liberty Global (LBTYA +4.5%) has taken a stake in Glory Sports International, parent company to a kickboxing league, in a round of Series B financing for Glory.
- That round was led by Yao Capital, the investment firm founded by ex-NBA player Yao Ming along with former Wanda Group CIO David Han and partner Erik Zhang.
- Yao took a significant strategic stake in the funding, which also featured existing Glory shareholders Twin Focus Capital. Yao and Glory will pursue an immediate launch of a JV in China.
- "Glory is a great fit for Liberty Global's content investment strategy," says Liberty Global Chief Programming Officer Bruce Mann. "We find investing in up-and-coming sports both interesting and strategic. I believe Liberty Global's support and operational leverage in combination with the arrival of Yao Capital as an investor positions Glory extremely well to deliver on their vision."