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Major League Cricket raises $120 mn funding, Microsoft CEO Satya Nadella among lead investors

Nadella led the investment in a $44 million Series A & A1 fundraising round for the US T20 League.

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MUMBAI: Microsoft CEO Satya Nadella is the leading investor in the $44 million Series A and A1 fundraising round by New York-based Major League Cricket (MLC), a T20 competition featuring six franchises that have been sanctioned by USA Cricket. The league is targeted to launch next year.

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 herald a new era for the world’s second most popular sport in the US, according to a press statement issued by MLC on Wednesday.

“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,” MLC co-founders Sameer Mehta and Vijay Srinivasan said in a joint statement.

“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,” it further added.

The other investors for MLC include the likes of Adobe CEO Shantanu Narayen, Madrona Venture Group managing director Soma Somasegar, founding partners at Milliways Ventures and Rocketship VC Anand Rajaraman and Venky Harinarayan, chairman of Infinite Computer Solutions Zyter Sanjay Govi and Perot Jain managing partner Anurag Jain, among others.

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