- Investment will be used to build cricket-specific stadia and training centres
- MLC plans to start playing in 2023
Major League Cricket (MLC), the US-based Twenty20 cricket competition, has completed a US$44 million Series A and A1 fundraising round, with an additional commitment of US$76 million over the next 12 months.
MLC says that it plans to deploy more than US$120 million to launch the first-ever professional T20 league in the US and usher in a ‘new era’ for cricket in the country.
Investment came from Microsoft chief executive Satya Nadella, Madrona Venture Group managing director Soma Somasegar, as well as Milliways Ventures and Rocketship VC founding partners Anand Rajaraman and Venky Harinarayan.
Other backers included Sanjay Govil, founder and chairman of Infinite Computer Solutions and chief executive of Zyter, Anurag Jain, managing partner of Perot Jain and chairman of Access Healthcare, and Ross Perot Jr, chairman of the Perot Group.
The lead investor groups were rounded out by Tanweer Ahmed, chief executive of Pak Foods and Our Energy, and the Baheti Family, who own Yash Technologies.
The US$120 million will primarily be used to build cricket-specific stadia and training centres to develop a new generation of US cricketers and enable the country to host global cricket events.
“The significant funding committed by an outstanding group of investors will allow Major…
