OnlyFans has sold a 16% minority stake to investment firm Architect Capital for $535 million, valuing the adult content platform at $3.15 billion, according to multiple reports.

The transaction comes weeks after the death of OnlyFans owner Tim Stokely, though specific details about the timing relationship were not immediately clear. Architect Capital, which focuses on technology and media investments, agreed to purchase the minority stake in the company that has become popular with adult content creators.

The deal represents a significant valuation milestone for OnlyFans, which has grown rapidly in recent years as creators have flocked to its subscription-based platform. The company allows content creators to monetize their work directly through subscriber payments and tips.

The sale provides OnlyFans with new capital and institutional backing as it continues to expand its platform and user base. Financial terms beyond the stake size and purchase price were not disclosed in the available reports.