The Chernin Group leads a $263 million investment in Funko

Barbie and Funko toy displays at an FAO Schwarz in New York, U.S., September 16, 2021. REUTERS/Vanessa O’Connell

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May 5 (Reuters) – The Chernin Group, an investment firm known for backing emerging media, commerce and technology companies, said on Thursday it would lead a consortium making a $263 million investment in the lifestyle brand Funko Inc (FNKO.O).

TCG and its consortium of investors acquire 12.5 million Class A shares of Funko from ACON Investments and own a 25% share of the company following the transaction. Other investors include former Disney CEO Robert A. Iger, Rich Paul, CEO and founder of Klutch Sports Group, and eBay Inc (EBAY.O).

As part of the online marketplace investment, eBay will become a preferred secondary marketplace for Funko, a maker of toys, stuffed animals, apparel, board games and other collectibles, including non-fungible digital tokens.

TCG co-founder and partner Jesse Jacobs said collectors are passionate about the Funko Pop! figurines. He said he sees an opportunity for the company to capitalize on this popularity in new ways – as happened with another company TCG has invested in, Exploding Kittens, whose card game will be adapted into a animated series and a mobile game for Netflix Inc ( NFLX.O).

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Reporting by Dawn Chmielewski in Los Angeles Editing by Matthew Lewis

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