The activewear brands industry in Latin America is seeing remarkable growth, driven by a rising awareness of health and fitness. Companies engage in crafting clothing and accessories tailored for sports and leisure activities, ranging from well-known global brands to innovative local startups. E-commerce plays a crucial role as consumers increasingly prefer shopping online for quality and stylish activewear. Eco-friendly production and sustainable practices are becoming more prominent, reflecting shifting consumer preferences. The industry is expected to thrive as interest in fitness expands, with athletes and everyday users alike seeking high-performance and fashion-forward gear.


The list includes a mix of venture capital and private equity firms based in key urban centers like Sao Paulo and Mexico City. Most investors range from small to mid-sized teams, with a few founded as recently as 2019. Interestingly, several have focused on tech-forward startups, highlighting the intersection of technology and lifestyle in this space. As of 2024, the number of deals varied significantly, from active engagement by some firms to others making none. This creates a rich tapestry of opportunities for emerging brands across the activewear sector.


Top 11 Activewear Brands Investors in Latin America


1. bossa invest

  • Website: bossainvest.com
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2011
  • Headcount: 11-50
  • Number of deals in 2024: 56
  • LinkedIn: bossainvest

Bossa Invest is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm specializes in investing in innovative startups, particularly in the technology sector, and provides capital, strategic guidance, and access to a network of co-investors. Bossa Invest also offers educational resources for investors and startups, aiming to empower entrepreneurs and foster growth in the startup ecosystem. Among their notable transactions, Bossa Invest has invested in Knix Wear, a company known for its activewear products, and FightCamp, which focuses on fitness solutions. These investments highlight Bossa Invest's engagement in the activewear industry, alongside their broader focus on technology startups.


2. Moriah Asset

  • Website: moriahasset.com.br
  • Type: Corporate
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2019
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: moriahasset

Moriah Asset is a corporate investor based in Sao Paulo, Brazil, founded in 2019. They specialize in technology and wellness, providing innovative tech solutions and health-related products aimed at health-conscious consumers and businesses. Their diverse offerings include healthy snacks, fitness-related services, and consulting, positioning them as a leader in the wellness and tech sectors. In 2024, Moriah Asset was involved in notable transactions such as Armybr, which raised funds in a private equity round, and Utreino, which secured seed funding. These investments suggest a strategic interest in companies that align with health and fitness, reinforcing their relevance in the activewear industry.


3. Kaszek

  • Website: kaszek.com
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2011
  • Headcount: 11-50
  • Number of deals in 2024: 17
  • LinkedIn: kaszek-ventures

Kaszek is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm focuses on investing in and supporting entrepreneurs across various technology-driven industries in Latin America. With a strong emphasis on long-term partnerships, Kaszek aims to foster a vibrant technology ecosystem in the region. Notably, Kaszek has been involved in significant transactions such as Gympass, which received a $220 million investment to expand its operations in the fitness sector, indicating a connection to activewear. Additionally, they invested in OQVestir, an online fashion retailer, which may include activewear products, showcasing their broader interest in the fashion and lifestyle sectors.


4. Nexxus Capital


Nexxus Capital is a private equity investment firm based in Mexico City, Mexico, founded in 1995. The firm specializes in private equity and mezzanine debt for mid-sized companies primarily in Mexico and Spain. Nexxus Capital manages multiple funds aimed at providing capital to help businesses grow and expand their operations. Among their notable transactions, they invested in Grupo Sports World, a company that operates fitness clubs and is directly related to the activewear industry, indicating their interest in this sector. Additionally, they participated in a post-IPO equity round for Immunotec, although this company is not directly linked to activewear. Overall, Nexxus Capital's investment in Grupo Sports World highlights their relevance to the activewear brands market.


5. Shift Capital

  • Website: shiftcapital.com.br
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 2
  • LinkedIn: shiftcapital

Shift Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2017. The firm specializes in private equity and growth capital investments, primarily targeting middle-market companies. Shift Capital partners with entrepreneurs to provide not only capital but also operational support, focusing on business development, capital structuring, and governance to help businesses scale effectively. One of their notable transactions includes an investment in Bluefit Academia, a fitness company, which raised an undisclosed amount in a seed round in January 2018. This investment highlights their engagement in the fitness and activewear sector, showcasing their potential interest in related brands.


6. PUMA México Sport S.A. de C.V.


PUMA México Sport S.A. de C.V. is a corporate investor based in Mexico City, Mexico, and is part of the global PUMA brand, which was founded in 1948. The company specializes in sportswear, offering a wide range of athletic footwear, apparel, and accessories designed for both performance and style. PUMA caters to a diverse customer base, including athletes and fashion enthusiasts, and operates through an online store to provide easy access to their latest collections. Notably, PUMA has been involved in significant transactions, such as the acquisition of Cobra Golf from Acushnet Co. This acquisition aims to strengthen PUMA's presence in the golf club market, which is a strategic move to diversify their offerings within the activewear and sports equipment sectors. The deal, announced in 2010, reflects PUMA's commitment to expanding its influence in the activewear industry.


7. Go4it Capital

  • Website: go4itcapital.com
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2015
  • Headcount: 1-10
  • LinkedIn: go4itcapital

Go4it Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2015. The firm partners with exceptional entrepreneurs to build innovative global businesses primarily in the sports, digital media, and well-being sectors. Go4it Capital aims to provide both investment and strategic support to help these businesses grow, fostering a more active and enjoyable world. Notably, they have participated in funding rounds for Strava, a well-known fitness tracking platform, which raised significant capital in both 2017 and 2020. These transactions highlight Go4it Capital's interest in companies that promote active lifestyles, making them a relevant player in the activewear brands investment landscape.


8. Capital Invent

  • Website: capitalinvent.com
  • Type: Private Equity
  • Headquarters: Ciudad De Mexico, Ciudad De México, Mexico
  • Founded year: 2013
  • Headcount: 1-10
  • LinkedIn: capital-invent

Capital Invent is a private equity investment firm based in Ciudad De Mexico, founded in 2013. The firm focuses on supporting entrepreneurs and startups across various industries, including Fintech, E-commerce, and EdTech. They provide investment and consulting services aimed at fostering business growth and success, with a mission to create a positive impact through ethical entrepreneurship, emphasizing values such as empathy and innovation. Notably, Capital Invent has invested in InstaFit, a fitness-focused startup, raising a total of $800,000 across two seed rounds in 2014 and 2017. This involvement in a fitness-related company highlights their potential interest in the activewear sector, despite their broader investment strategy.


9. Soldiers Field Angels


Soldiers Field Angels is a venture capital fund based in Mexico City, Mexico, founded in 2013. The firm focuses on investing in high-impact startups across various sectors in Mexico and Latin America, providing seed, venture, and growth capital along with mentorship from experienced partners, primarily Harvard Business School alumni. One notable transaction they were involved in is the investment in Fitpass México, which raised an undisclosed amount in a venture round on April 15, 2017. Fitpass is related to fitness and wellness, aligning with the activewear industry, showcasing Soldiers Field Angels' potential interest in this sector.


10. inQlab

  • Website: inqlab.co
  • Type: Venture Capital
  • Headquarters: Bogota, Bogota, Colombia
  • Founded year: 2013
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: inqlab

InQlab is a venture capital firm based in Bogota, Colombia, founded in 2013. The firm specializes in investing in technology startups with high growth potential across Latin America. InQlab provides strategic support and capital to early-stage businesses in various sectors, including fintech, ecommerce, and healthtech. Notably, InQlab has invested in Fitpal, a fitness platform that raised funds in seed rounds in 2015 and 2018. These transactions highlight InQlab's engagement in the fitness and wellness industry, which is closely aligned with activewear brands, showcasing their potential interest in this market.


11. AVP Ventures


AVP Ventures is a venture capital firm based in San Isidro, Lima, Peru, founded in 2014. The firm specializes in seed stage investments in startups throughout Latin America, providing both funding and guidance to entrepreneurs. Their investment portfolio includes a range of sectors, notably fintech, identity services, future of work, and health and wellness. One of their notable transactions is the seed round investment in Fitco, which raised $350,000 on October 8, 2018. Fitco operates within the activewear space, highlighting AVP Ventures' engagement with the activewear industry, despite their broader focus on various sectors.



Activewear Brands Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
bossa investSao Paulo, Sao Paulo, Brazil11-50201156
Moriah AssetSao Paulo, Sao Paulo, Brazil11-5020195
KaszekSao Paulo, Sao Paulo, Brazil11-50201117
Nexxus CapitalMexico City, Mexico City, Mexico11-5019950
Shift CapitalSao Paulo, Sao Paulo, Brazil11-5020172
PUMA México Sport S.A. de C.V.Mexico City, Mexico City, Mexico1-1019480
Go4it CapitalSao Paulo, Sao Paulo, Brazil1-1020150
Capital InventCiudad De Mexico, Ciudad De México, Mexico1-1020130
Soldiers Field AngelsMexico City, Mexico City, Mexico11-5020130
inQlabBogota, Bogota, Colombia1-1020131
AVP VenturesSan Isidro, Lima, Peru1-1020140


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