Gunderson Dettmer represented Thrive Capital in its co-lead investment of Fanatics, a multi-channel sports merchandise retailer, in its $350 million Series E financing. Thrive Capital was joined by Fidelity Management, Franklin Templeton Investments and Neuberger Berman Group. Fanatics is now valued at approximately $6.2 billion.

Forbes reported that the financing “is expected to help accelerate Fanatics’ rights acquisition strategy and spur further M&A activity. Fanatics already has deals with the NFL, MLB, the NBA, the NHL, MLS, Nascar and European soccer clubs, as well as more than 300 individual teams.”

The Gunderson team was led by Ryan Purcell and Wenli Cai and included Janice Lee, Irina Finkel, Katie Gardner and Alex Khachaturian.