OnlyFans is in advanced talks to sell a minority stake of less than 20% to San Francisco-based Architect Capital at a valuation of more than $3 billion, according to reports from the Financial Times. The discussions come less than a month after the death of OnlyFans founder Leonid Radvinsky, who passed away at age 43 from cancer in late March 2026. His ownership stake in Fenix International, the parent company of OnlyFans, is now held by a family trust led by his widow Katie.
The potential deal would mark the first outside investment in the UK-based content platform since Radvinsky acquired the company in 2018. Earlier this year, reports indicated that OnlyFans was exploring a sale of a majority stake to Architect Capital that could have valued the company at around $5.5 billion including debt. However, following Radvinsky’s death, the focus shifted to a smaller minority stake sale, which implies a lower valuation due to the lack of controlling interest being transferred.
OnlyFans has grown into one of the most profitable private technology companies relative to its size, generating $7.2 billion from users in the last reported year through subscriber payments, tips and special requests. The company paid a record $701 million in dividends last year alone, with virtually all returns flowing to Radvinsky and his family trust under the concentrated ownership structure. The platform has more than 300 million users and generates over $1 billion in annual revenue, operating on a subscription model where it takes a 20% cut from creators’ earnings.
The business behind the deal has attracted attention due to its rapid rise during the COVID-19 pandemic, when global lockdowns drove a surge in online content consumption. OnlyFans evolved under Radvinsky’s leadership into an adult-content-driven business after he acquired Fenix International from founder Tim Stokely in 2018. He had been the majority shareholder and a director on the board before his passing.
Architect Capital, the San Francisco-based investment firm involved in the talks, is reportedly seeking to acquire a significant but non-controlling position in the platform. An agreement is expected to be struck as early as next month, though the deal could still face last-minute obstacles. The transaction would leave control of OnlyFans with the Radvinsky family trust rather than transferring it to Architect Capital.
The valuation dynamics reflect a shift from earlier discussions about majority control. Selling only a small minority stake without a controlling interest has reduced the implied valuation from the $5 billion-plus figure sought for majority control to the current more than $3 billion for the sub-20% stake. This distinction underscores how ownership terms directly impact perceived value in private transactions.
OnlyFans’ financial profile remains strong despite its controversial content niche. The platform’s ability to generate substantial dividend payouts highlights its cash-generative business model, which has drawn interest from private investors seeking exposure to profitable digital media assets. Its UK-based operations and global user base have positioned it as one of Britain’s most profitable private companies.
As discussions continue, stakeholders await clarity on the future direction of the platform following the founder’s death. The family trust’s decision to pursue a minority investment rather than a full sale suggests an intent to preserve familial influence while accessing external capital for potential growth initiatives. No official statements have been released by Either OnlyFans or Architect Capital regarding the timing or final terms of the prospective deal.
The next confirmed checkpoint in this developing story will be any official filing or public announcement regarding the stake sale, which would provide verified details on the transaction’s structure, valuation, and expected closing date. Until then, market observers will continue to monitor reports from reliable financial journalism sources for updates.
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