Microsoft CEO Satya Nadella leads $44 mn investment in Major League Cricket
With an additional commitment of $76 mn in fundraising over the next 12 months, MLC plans to deploy more than $120 mn to launch the first-ever US T20 cricket league
Major League Cricket (MLC) has raised $44 million in Series A and A1 Fundraising Round led by a group of America’s most successful and respected business leaders including Microsoft CEO Satya Nadella.
With an additional commitment of $76 million in further fundraising over the next 12 months in place, MLC plans to deploy more than $120 million to launch the country’s first-ever professional Twenty20 cricket league and open a new era for the world’s second most popular sport in the United States.
Investor groups for the Series A and A1 Fundraising Round, which includes MLC’s seed funding round, were led by: Satya Nadella (CEO of Microsoft) and Soma Somasegar (Managing Director, Madrona Venture Group); Anand Rajaraman and Venky Harinarayan (Founding Partners at Milliways Ventures and Rocketship VC); Sanjay Govil (Founder and Chairman of Infinite Computer Solutions and CEO, Zyter); Anurag Jain (Managing Partner of Perot Jain, LP, Chairman of Access Healthcare) and Ross Perot Jr. (Chairman, The Perot Group); Tanweer Ahmed (CEO, PAK Foods, CEO, OUR Energy and Owner of Prairie View Cricket Complex); and The Baheti Family (Owners of YASH Technologies).
“The significant funding committed by an outstanding group of investors will allow Major League Cricket to build first-class facilities and accelerate the sport’s development across the country, bringing world-class professional cricket to the world’s largest sports market,” said Sameer Mehta and Vijay Srinivasan, co-founders, Major League Cricket.
“This investor group comprises leading business executives and successful tech entrepreneurs who have led some of the world’s most prominent companies. They bring tremendous experience and expertise in support of MLC’s plans to launch a transformative Twenty20 league and establish America as one of the world’s leading homes for international cricket events.”
The $120 million investment into MLC will primarily be dedicated to building premier cricket-specific stadia and training centers to develop a new generation of American star cricketers. This unprecedented infrastructure investment will transform the landscape for professional cricket and enable the United States to host global events over the next decade and beyond. As well as international games, world-class T20 action will be played annually with MLC bringing the best cricketers in the world to play in cricket-specific venues with natural turf wickets and first-class amenities for fans.
MLC was advised by Hogan Lovells, a global law firm and leader in the sports, media, and entertainment industry.
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