Australian billionaire James Packer is among the investors lined up to back Architect Capital’s deal to take a minority stake in OnlyFans, the streaming platform used by sex workers whose owner died in March.
OnlyFans has agreed a deal to sell a stake of about 15 per cent to San Francisco-based Architect Capital at a valuation of $3.1bn, according to people familiar with the matter. The stake sale, which the FT first reported last month, is set to be announced as early as Friday.
The decision to sell a small stake in the UK-headquartered business will leave control of it with the family trust led by Katie Chudnovsky, the widow of OnlyFans owner Leonid Radvinsky. The late Ukrainian-American entrepreneur acquired Fenix International, the company that owns and operates OnlyFans, in 2018.