Chernin Group-led consortium to invest $263M in Funko
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A consortium led by investment firm The Chernin Group (TCG) will invest $263M in Funko (NASDAQ:FNKO) in an all secondary deal.
The consortium will acquire from ACON Investments ~12.5M FNKO class A shares, or 80% of ACON's stake in Funko, at $21/share.

The consortium will own 25% of FNKO once the deal closes.
Investors in the consortium include eBay (EBAY), former Disney CEO Robert Iger and Rich Paul, CEO of Klutch Sports and head of sports at United Talent Agency.
TCG will designate two directors to FNKO's board including TCG co-founder Jesse Jacobs.
The other director will be designated at a later date.
Iger and TCG co-founder Peter Chernin will provide guidance as advisors to FNKO.
Additionally, FNKO and EBAY inked a commercial deal, under which EBAY will become the preferred secondary marketplace for FNKO. The firms will also partner on exclusive product releases.
Paul's expertise in the sports and music sectors will help advance FNKO's product expansion and growth opportunities in these sectors.
FNKO also reported Q1 earnings beat, lifting its stock ~44% postmarket.