The athletic shoe industry in Benelux is a vibrant sector where innovation meets demand for performance and style. Companies range from well-established brands like ASICS to emerging startups focused on sustainability and fit technology. The market caters to a variety of consumers, including athletes and fashion enthusiasts alike. Notably, eco-friendly products are gaining traction, reflecting growing consumer interest in sustainable practices. Furthermore, as e-commerce ramps up, brands are leveraging digital platforms to connect directly with customers, reshaping how athletic shoes are marketed and sold. This industry is poised for continued growth, influenced by ever-evolving consumer preferences and technological advancements.


The investors in this list reflect a rich tapestry of venture capital and private equity funding in the Benelux athletic shoe space. Predominantly situated in Amsterdam and Brussels, these firms range in size from small teams to large institutions, such as BNP Paribas Fortis. Founded as early as 1898, each investor brings a unique approach, with varying levels of deal activity in 2024, from two to over twenty investments. Their interests span traditional footwear and emergent technologies, reinforcing the industry's dynamic nature, driven by creative entrepreneurs and innovation.


Top 11 Athletic Shoe Investors in Benelux


1. Exor N.V.

  • Website: exor.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 26
  • LinkedIn: exor_2

Exor N.V. is a holding company based in Amsterdam, Netherlands, founded in 2009. It operates across various sectors including automotive, healthcare, and media, and manages a diverse portfolio of companies such as Ferrari, Stellantis, and Philips. Exor focuses on enhancing value through strategic investments and operational support. Notably, Exor has made investments in the athletic shoe context, including a seed round investment in CARIUMA, a brand known for its sustainable sneakers. Additionally, Exor has invested in luxury brands like Christian Louboutin, which, while not directly athletic shoe-focused, indicates a broader interest in the fashion and footwear sectors. This diverse investment strategy positions Exor as a significant player in the market, with potential implications for the athletic shoe industry.


2. Forward Venture Capital

  • Website: forwardvc.com
  • Type: Venture Capital
  • Headquarters: The Hague, South Holland, Netherlands
  • Founded year: 2016
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: forwardventurecapital

Forward Venture Capital is a venture capital firm based in The Hague, South Holland, Netherlands, founded in 2016. The firm supports early-stage entrepreneurs by providing investment and guidance to help them accelerate their growth. While Forward Venture Capital focuses on various sectors, including digital commerce and SaaS, they have also made notable investments in the athletic shoe context. For instance, they invested in Roccamore, a shoe brand, and Volumental, which specializes in foot scanning technology that can enhance the fit and comfort of athletic shoes. Their involvement in these transactions indicates a commitment to supporting innovation in the footwear industry, particularly in areas that intersect with athletic performance and consumer needs.


3. Sofina

  • Website: sofinagroup.com
  • Type: Venture Capital
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 1898
  • Headcount: 51-200
  • Number of deals in 2024: 4
  • LinkedIn: sofina

Sofina is a venture capital investment company based in Brussels, Belgium, founded in 1898. The firm specializes in providing patient capital to growing businesses across various sectors, including telecommunications, consumer goods, and energy. Sofina partners with entrepreneurs and family-owned businesses, offering strategic advice and long-term investment solutions to foster sustainable growth. Notably, Sofina led a €25 million Series C funding round for Spartoo, a European online footwear and bag retailer, which has raised a total of €45 million to date. This investment highlights Sofina's engagement in the footwear market, particularly in the context of online retail, which is relevant to the athletic shoe industry. Additionally, Sofina has participated in various other funding rounds across different sectors, showcasing its diverse investment portfolio.


4. LeanSquare

  • Website: leansquare.be
  • Type: Venture Capital
  • Headquarters: Belgium
  • Founded year: 2014
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: leansquare

LeanSquare is a venture capital investment fund based in Belgium, founded in 2014. The firm specializes in supporting innovative projects across various sectors, including Cultural and Creative Industries, Enterprise Software, and Life Sciences. LeanSquare aims to provide financial investment, expertise, and networking opportunities to startups that are at a mature stage and seeking growth. In recent transactions, LeanSquare has invested in Raw Stadia, a sports tech company that raised $1.63M to expand into the US market, particularly focusing on the NFL. Additionally, they participated in a seed funding round for CityLegends, which received close to €1 million to enhance its marketing efforts and user base in Western Europe and the US. These investments highlight LeanSquare's engagement in the sports sector, aligning them with the athletic shoe industry.


5. Noshaq

  • Website: noshaq.be
  • Type: Venture Capital
  • Headquarters: Belgium
  • Founded year: 1985
  • Headcount: 11-50
  • Number of deals in 2024: 11
  • LinkedIn: noshaq-be

Noshaq is a venture capital investment fund based in Belgium, founded in 1985. It provides financial solutions and strategic support to small and medium-sized enterprises (SMEs) in the province of Liege, focusing on funding, project structuring, and business development. While Noshaq primarily targets sectors such as biotech and sustainable development, it has also made significant investments in the sports technology space. Notably, Noshaq participated in funding rounds for MYOCENE, a Belgian-based sportstech company, which raised funds to prepare for its 'Go to Market product' launch, indicating a direct connection to athletic products. Additionally, Noshaq invested in Raw Stadia, a sports tech company aiming to expand into the US market with a focus on the NFL, further highlighting its engagement in the athletic sector. These transactions demonstrate Noshaq's potential relevance to the athletic shoe industry.


6. BNP Paribas Fortis


BNP Paribas Fortis is a prominent banking and financial services provider based in Brussels, Belgium, founded in 2008. The firm offers a comprehensive range of services, including personal banking, corporate banking, investment management, and financial advisory, catering to individuals, businesses, and organizations. In 2022, BNP Paribas Fortis participated in a significant funding round for Castore, a British sportswear brand, contributing to a £50 million investment alongside HSBC and Silicon Valley Bank. This funding, structured as a debt facility, valued Castore at £750 million and is aimed at supporting the company's expansion efforts in the competitive athletic apparel market. This transaction highlights BNP Paribas Fortis's engagement in the athletic shoe and sportswear industry, reinforcing their role as an investor in this sector.


7. Peak

  • Website: peak.capital
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2008
  • Headcount: 11-50
  • Number of deals in 2024: 8
  • LinkedIn: peak-capital

Peak Capital is a venture capital firm based in Amsterdam, Netherlands, founded in 2008. The firm specializes in investing in early-stage companies primarily within the SaaS, marketplace, and platform sectors. They leverage their experience as former entrepreneurs to provide funding and support to innovative founders, helping businesses scale and succeed. Among their notable transactions, Peak Capital invested in Heja, a youth sports management social platform, which raised $4.2 million in a seed round. This investment reflects their interest in the sports sector, although their other investments, such as in United Wardrobe (a second-hand fashion marketplace) and Patri (a SaaS company), indicate a broader focus beyond just athletic shoes. Overall, while they have some involvement in the sports industry, their primary investment strategy does not center on athletic footwear.


8. Karmijn Kapitaal

  • Website: karmijnkapitaal.nl
  • Type: Private Equity
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: karmijn-kapitaal

Karmijn Kapitaal is a private equity investment firm based in Amsterdam, specializing in investments in small and medium-sized enterprises (SMEs) in the Netherlands. Founded in 2010, the firm focuses on providing growth capital, acquisition financing, and management buy-out support, with a strong emphasis on diversity in management teams. Karmijn Kapitaal has been actively involved in enhancing the operations of its portfolio companies to drive sustainable growth. Notably, they acquired Fred de la Bretonière Webshop BV, a prominent shoe and bag brand in the Netherlands, on December 17, 2014, and King Louie on September 14, 2017. These transactions highlight their engagement in the footwear industry, particularly with brands that may have athletic shoe offerings.


9. Asics Emea

  • Website: asics.com
  • Type: Corporate
  • Headquarters: Hoofddorp, North Holland, Netherlands
  • Founded year: 1949
  • Headcount: 1001-5000
  • LinkedIn: asics-emea

Asics Emea, based in Hoofddorp, North Holland, Netherlands, is a corporate investor and a prominent player in the sportswear industry, particularly known for producing high-quality athletic footwear, clothing, and accessories. Founded in 1949, ASICS Corporation caters to athletes and fitness enthusiasts, offering products designed for performance and comfort. The company operates an online store and promotes a membership program for additional benefits. Notably, Asics has made significant acquisitions to bolster its position in the athletic market, including the acquisition of the fitness app Runkeeper for $85 million in 2016, which allows Asics to leverage user data for enhanced marketing and digital technology development. Additionally, Asics acquired its North American distributor, Agence Québec Plus Ltd., in 2010, further solidifying its distribution capabilities in the athletic footwear market.


10. LUMO Labs

  • Website: lumolabs.io
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: lumo-labs

LUMO Labs is a venture capital firm based in Eindhoven, North Brabant, Netherlands, founded in 2016. The firm specializes in impact-driven investments in emerging technologies, providing funding and tailored support programs to early-stage startups that address social and environmental challenges. Their focus is primarily on fostering innovation in the technology sector, particularly in areas such as AI and Blockchain. Notably, LUMO Labs participated in a recent funding round for CityLegends, which received close to €1 million in seed funding. This investment, alongside other investors including the Dutch Sport Tech Fund, highlights LUMO Labs' engagement in the sports tech space, which is relevant to the athletic shoe industry. Additionally, their previous investment in CityLegends in 2021 further demonstrates their ongoing interest in this sector.


11. Convent Capital

  • Website: conventcapital.nl
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2011
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: convent-capital

Convent Capital is a venture capital firm based in Amsterdam, Netherlands, founded in 2011. The firm specializes in sustainable investments and growth capital provision, primarily targeting small to medium-sized enterprises in the Benelux region and innovative companies in the AgriFood sector. Notably, Convent Capital has participated in several funding rounds for SafeSize, a Greek startup that offers a 3D foot analysis and shoe recommendation solution. Their involvement in SafeSize includes co-leading a €14 million Series B funding round in March 2023, as well as participating in earlier funding rounds in 2016 and 2019. This engagement highlights Convent Capital's interest in technologies that enhance the athletic shoe industry, particularly through innovative solutions that improve consumer experience in footwear selection.



Athletic Shoe Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
Exor N.V.Amsterdam, North Holland, Netherlands11-50200926
Forward Venture CapitalThe Hague, South Holland, Netherlands1-1020162
SofinaBrussels, Brussels, Belgium51-20018984
LeanSquareBelgium1-1020143
NoshaqBelgium11-50198511
BNP Paribas FortisBrussels, Brussels, Belgium10001+20082
PeakAmsterdam, North Holland, Netherlands11-5020088
Karmijn KapitaalAmsterdam, North Holland, Netherlands11-5020101
Asics EmeaHoofddorp, North Holland, Netherlands1001-500019490
LUMO LabsEindhoven, North Brabant, Netherlands11-5020165
Convent CapitalAmsterdam, North Holland, Netherlands1-1020112


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