Houlihan Lokey exclusively advised Kindred Concepts (F1 Arcade) on recent round.
Kindred Concepts Ltd. trading as F1® Arcade is pleased to announce it has completed a growth financing raise. The $130M commitments are funded by Cheyne Capital, Liberty Media Corporation, Permira Credit and OakNorth. The transaction closed on July 10, 2024.
F1® Arcade is the world’s first F1® experiential hospitality brand. Backed by Formula 1 and Liberty Media, F1 Arcade opened its first venue in London in 2022, followed by Birmingham and in April 2024 the brand launched its first US site in Boston Seaport. As part of an ambitious roll-out plan, F1 Arcade is set to open in Washington D.C in Fall 2024 and a flagship site in Las Vegas in 2025.
The concept includes state-of-the-art F1 racing simulator experience, coupled with an exceptional hospitality offering, perfect for groups, families or corporate entertainment.
Houlihan Lokey was appointed to pursue a growth debt financing for the brand to fund its global expansion. The firm acted as the exclusive financing advisor to F1 Arcade to arrange, structure, and negotiate the financing package.
“We are delighted with the outcome of this latest fundraise which will enable us to accelerate our global expansion. Building on the success we have seen for the F1 Arcade concept in both the UK and US, we are focused on building our pipeline of openings into 2026 and beyond.” said Adam Breeden, Founder and CEO of F1 Arcade.
"The competitive nature of this process highlights the strong investor demand for a brand of this calibre, despite challenging financing markets. The exceptional business acumen of Adam and his management team, together with the proven success of the sites in London, Birmingham, and Boston have attracted a sophisticated and high-quality group of investors." - Gareth Owen, Director in Houlihan Lokey’s Capital Markets Group.
Following its launch in Boston MA, F1 Arcade will launch multiple owned and operated sites in 2025, including Las Vegas, with a plan to launch five more in the US each year thereafter. The first franchise sites are also in development.
For media enquiries, imagery, or interview requests, please contact: f1arcade@wcommunications.global.
About Kindred Concepts
Kindred Concepts Ltd, trading as F1® Arcade, is a standalone corporate entity with an exclusive license from Formula 1 to bring F1® Arcade to market. F1® Arcade is led by Founder and CEO Adam Breeden with a staff of 139 operating out of the UK and US.
About F1® Arcade
F1® Arcade is the world’s first F1® experiential hospitality brand, launched its flagship 16,000 sq ft venue in London, overlooking St. Paul's Cathedral, in December 2022. F1® Arcade brings all the excitement, glamor, and thrill of Formula 1® driving to the masses. Featuring full-motion racing simulators, reaction games, huge viewing screens, best-in-class food, and cocktails, with an electric atmosphere. This is social gaming like you have never seen before. An in-house tech team worked in collaboration with Formula 1® and Studio 397, a subsidiary of Motorsport Games, to create a new gaming experience leveraging Studio 397’s racing simulation platform rFactor 2. F1® Arcade is the first and only officially licensed social gaming F1® experience specifically designed for the mass market, supported by Formula 1®.
