Architect Capital takes minority stake in OnlyFans parent

OnlyFans parent Fenix International Limited is bringing on a minority investor to power the development of banking and financial products for its content creators.

Architect Capital has agreed to pay $535 million for a roughly 16% stake in the company, valuing the platform at $3.15 billion.

The adult-content subscription platform counts over 4 million creators and 377 million fan accounts, with more than $25 billion in lifetime payouts to creators.

Fenix International generated $1.4 billion in revenue and $666 million in operating profit in fiscal 2025.

Leonid Radvinsky, who acquired the business in 2018 and owned the majority stake, died in March at age 43 after a private battle with cancer.

Control of the company shifts to a family trust led by his widow, Katie Chudnovsky.

Architect Capital, a San Francisco-based investment firm known for earlier bets on Juul, had originally sought to acquire a 60% stake but struggled to line up backers following Radvinsky’s death.

The minority deal is supported by a special-purpose vehicle with capital from a group of investors, including Australian media and casino mogul James Packer and venture capitalist Sam Lessin, an early backer of Venmo.

The platform has long faced banking hurdles because adult-content businesses see higher transaction fees and stricter fraud rules.

OnlyFans aims to address that by offering new financial services to creators, CEO Keily Blair said, describing the investment as a step to “build additional services and features to support our creator community.”