Australian billionaire James Packer has invested in OnlyFan’s parent company Fenix International.
Packer is an investor in the San Francisco-based asset management firm Architect Capital, which acquired a 16 per cent stake in Fenix International for US$535 million (AU$739 million).
This placed the business at a valuation of approximately US$3.15 billion (AU$4.3 billion). Architect Capital financed the acquisition by raising capital from a group of contributors, including Packer.
James, son of Australian media tycoon Kerry, has worked for businesses across the media landscape and beyond in Australia.
The transaction follows the death of Fenix International’s controlling owner, Lenoid Radvinsky. Radvinsky acquired the business in 2018 and expanded it into a prominent platform within the creator economy.
Control of Fenix International has since been transferred to his widow, Katie Chudnovsky. She retains majority ownership under the existing family trust structure.
The minority stake sale will bring outside capital whilst leaving operational control unchanged.
For Packer, the investment adds to a portfolio of digital assets built through his private investment vehicle, Consolidated Press Holdings. It has previously held positions in Seek, Carsales and US real estate platform Zillow.
OnlyFans operates a direct-payment model across 337 million users and four million creators. It is estimated to generate US$1.4 billion (AU$1.9 billion) in annual revenue.
It has a subscription and pay-per-view structure that produces recurring cash flow that is mostly protected from shifts in advertising market conditions. This makes it an attractive investment for institutional and private investors, despite the platform’s reputation.
