OnlyFans has closed its first significant outside investment, selling a 16% stake to San Francisco-based private equity firm Architect Capital for $535 million — a deal that values the creator platform at $3.15 billion.
The transaction, reported by Axios and confirmed by multiple outlets, marks a turning point for the company, which had spent roughly five years trying to attract institutional capital while potential investors balked at its heavy reliance on adult content.
The deal closes in the shadow of the death of OnlyFans owner Leonid Radvinsky, who died on March 20, 2026, at age 43 following a cancer diagnosis that had been kept private. His widow, Yekaterina “Katie” Chudnovsky, assumed control of Fenix International, the parent company behind the platform, and oversaw completion of the transaction.
Alongside Architect Capital, notable co-investors in the round include businessman James Packer and technology executive Sam Lessin, according to the Financial Times.
As part of the agreement, Architect Capital is expected to partner with OnlyFans to build out new financial services and products tailored to the platform’s creator base — an area the company has flagged as a long-term growth opportunity given that many creators on the platform face persistent challenges accessing mainstream banking.
The $3.15 billion valuation represents a significant step down from the $5.5 billion figure attached to earlier majority-stake talks with Architect Capital that were first reported in January 2026. Those negotiations ultimately yielded a minority investment rather than the controlling stake that had originally been discussed.
OnlyFans reported more than $6.6 billion in gross merchandise value processed through its platform in its most recent fiscal year, with the company distributing the large majority of revenue directly to creators. Despite those figures, the firm had consistently struggled to win over institutional backers unwilling to take on reputational exposure tied to adult content — a barrier that Architect Capital’s investment now effectively breaks.
