Fever has raised USD $250 million in a primary equity financing round, with backing from Australian venture capital firm Athletic Ventures.

The company described it as the largest round raised by a live-entertainment technology business. EQT led the financing, with Point72 Private Investments, Baillie Gifford and existing investors also participating.

The funding follows three years in which Fever more than tripled revenue while remaining EBITDA-positive. The business operates in 55 countries and plans to use the capital to expand its geographic reach and deepen its presence across entertainment categories.

Its Australian operations have also grown sharply since launch. The number of experiences it offers in Australia has increased more than tenfold since entering the market in 2021.

Athletic Ventures is a venture fund co-founded by former athletes Matt de Boer and Matthew Dellavedova. It joined a syndicate that includes several of Fever's best-known global backers.

"I've spent my career thriving off the energy that the crowd brings, and it is truly irreplaceable. I'm excited that Athletic Ventures has invested in the platform that brings these experiences to life. We're pleased to be supporting Fever alongside EQT, Point72 and Baillie Gifford," said Matthew Dellavedova, Co-founder of Athletic Ventures.

"Across my AFL career, I learned that the moments people remember most are the ones shared live with a crowd. Fever has built an elite platform that puts more of those moments in front of more people, in 800+ cities around the world. We're incredibly impressed with the team and proud to be backing them in the next stage of their growth," said Matt de Boer, Co-founder of Athletic Ventures.

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