Fever raises USD $250 million led by EQT
Fever, the live-entertainment company behind ticketing platform DICE, has raised USD $250 million in new funding.
The company announced the primary equity financing on Thursday, September 17. The round was led by EQT, a new investor in Fever, according to Music Business Worldwide.
Primary equity means Fever issued new shares. The money goes to the company itself, rather than to existing shareholders cashing out.
Baillie Gifford joined the round as another newcomer. Point72 Private Investments, an existing backer, also took part.
Fever owns UK-headquartered DICE, the ticketing and event discovery platform. The wider group organises events and experiences in 55 countries. It is led by co-founders Ignacio Bachiller, Francisco Hein and Alexandre Perez, with Bachiller as chief executive.
Fever described the $250 million raise as the largest ever for a live-entertainment tech company. That is the company’s description of the deal.
The company said it has more than tripled its revenue over the past three years. It said it did so while remaining EBITDA-positive, meaning profitable on an operating measure before interest, tax and other charges are counted.
A separate transaction points to Fever’s price tag. Spanish media group Atresmedia sold its entire Fever stake of just over 5% for approximately EUR 227 million.
That sale implies a valuation of approximately EUR 4.5 billion, roughly USD $5.2 billion, according to Music Business Worldwide.
Fever also has a high-profile sports contract in hand. It will serve as an Official Supplier to Formula 1 from the 2027 season through 2031 under a five-year global agreement.
What makes this stand out is the scale. That is a large cheque for a business built on ticket sales, event organisation and the crews who stage them.
