Private equity group BlackSun has successfully raised $1 billion for its inaugural investment vehicle, Mega Fund I, with an ultimate target of $7 billion. This significant capital raise, announced on August 20, 2026, will be directed towards investments across the sports, media, entertainment, and technology sectors.
BlackSun's Chief Operating Officer, Nery Gomez, confirmed the raise. The firm has partnered with Greenstone Equity Partners, a specialist in placing capital from the Middle East, including Saudi Arabia, Kuwait, Oman, Qatar, and the United Arab Emirates, to act as its global placement agent.
This $7 billion fund is backed by a diverse group including former Obama-era officials, media executives, and professional athletes such as Jason Kidd, Roy Jones Jr., and Lawrence Taylor. BlackSun is led by Atonn Muhammad, founder and CEO, and Nery Gomez, president and founder. The firm aims to capitalize on the increasing trend of private equity investment in live events and sports, following the NBA's loosening of ownership rules for private equity firms in 2025.
A top priority for BlackSun is the creation of new sports leagues, including the World American Football League and a combat sports league called Knockout Fights. The firm is also actively pursuing a bid to bring the Seattle SuperSonics back to the NBA. Their proposal involves partnering with Native American tribes to secure land for a new entertainment district and arena, aiming to establish a new model for team ownership with community involvement. BlackSun had previously made a $6 billion bid for the Boston Celtics. The firm views sports franchises as valuable assets with flat supply and rising demand, offering a more stable risk-reward profile compared to other growing sectors like AI.
