Sports retailer Fanatics Inc. has reportedly closed a $350 million investment round as the company gears up for an initial public offering. Fanatics is now valued at roughly $6.2 billion after raising about $1.5 billion since 2011, the Wall Street Journal reported, citing people familiar with the matter. This Series E round, led by Fidelity Management & Research Co. and Thrive Capital, is expected to be the company's last private funding before it files for an initial public offering. The timeline for an IPO is unclear, the Journal reported.