Private equity firm GTCR has agreed to invest in Vivid Seats LLC, an independent marketplace for users to buy and sell tickets to sports and entertainment events, alongside existing backer Vista Equity Partners.

Vivid Seats is a Chicago-based company providing a digital portal that allows fans to distribute and exchange live sports, concerts, and theater event tickets. The target offers a 100 percent money back guarantee that tickets are valid and will be delivered in time for the event, with an added clause that a full refund will be provided for events that are canceled and not rescheduled. Vivid Seats is currently selling tickets for a Bruno Mars concert, a Hamilton performance in New York, and a Coldplay concert on its homepage. GTCR’s investment is expected to close in the second quarter of 2017.

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