The outdoor footwear industry in the US thrives on a growing interest in outdoor activities, from hiking to running trails. Companies, ranging from established brands like Merrell to innovative newcomers using sustainable materials, cater to consumers seeking functionality and style. As awareness about the environmental impact increases, many brands are prioritizing eco-friendly production methods, enhancing their appeal among environmentally conscious buyers. The industry is predicted to observe significant growth, driven partly by advancements in technology and materials that enhance comfort and performance, making outdoor activities more accessible to a broader audience.


This collection features a mixed group of 13 investors actively contributing to the outdoor footwear space. These firms range from high-profile venture capitalists like Accel and Y Combinator, headquartered in Silicon Valley, to private equity names such as L Catterton and Advent International with significant resources. Founded between 1983 and 2023, these investors have offered diverse deal counts in 2024, reflecting their engagement in the footwear market despite varying operational sizes from small to large. Their strategic interest showcases the industry's evolving nature and highlights exciting investment opportunities.


Top 13 Outdoor Footwear Investors in the US


1. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It provides funding and mentorship to early-stage technology companies through a structured program that helps entrepreneurs launch and grow their businesses. With over 4,000 startups launched, Y Combinator has established itself as a key player in the technology startup ecosystem. Among its notable transactions, Y Combinator invested in Markhor, which raised $120,000 in a seed round in 2015, focusing on handcrafted footwear. This investment highlights Y Combinator's engagement in the footwear sector, particularly in brands that may cater to outdoor enthusiasts. Additionally, Y Combinator's investment in Boardcave, a platform for surfboard and outdoor gear, further demonstrates its interest in outdoor-related ventures, although not exclusively in footwear. Overall, Y Combinator's diverse investment strategy allows it to support companies across various industries, including outdoor footwear.


2. L Catterton

  • Website: lcatterton.com
  • Type: Private Equity
  • Headquarters: United States (USA)
  • Founded year: 1989
  • Headcount: 201-500
  • Number of deals in 2024: 23
  • LinkedIn: l-catterton

L Catterton is a private equity firm specializing in investment management, focusing on consumer brands across various sectors. Founded in 1989, the firm partners with middle market companies and high-growth enterprises, providing capital and strategic guidance to enhance brand equity and market presence. Notably, L Catterton acquired Birkenstock Group in February 2021 for approximately $4.83 billion, a significant player in the outdoor footwear market known for its iconic sandals. This acquisition highlights L Catterton's strategy to invest in brands that resonate with outdoor and lifestyle consumers. Additionally, their investment in Just Over The Top and other consumer brands further demonstrates their broad interest in enhancing brand presence across various sectors, including outdoor footwear.


3. FJ Labs

  • Website: fjlabs.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 169
  • LinkedIn: fj-labs

FJ Labs is a venture capital firm based in New York, founded in 2015. They specialize in investing in marketplace and network effect businesses, providing capital and strategic guidance to entrepreneurs across various industries, including e-commerce and logistics. With over 1,000 companies in their portfolio, many of which have achieved unicorn status, FJ Labs has established itself as a significant player in the venture capital landscape. Notably, they have invested in outdoor footwear companies such as Thursday Boot Company, which raised funds in a Series A round in July 2018. Additionally, they have been involved with PLAE, a brand focused on children's footwear, indicating their engagement in the footwear sector. Their investment strategy reflects a willingness to support innovative companies in the outdoor footwear market, making them a relevant investor in this category.


4. Advantage Capital


Advantage Capital is a venture capital firm based in New Orleans, Louisiana, founded in 1992. The firm specializes in providing equity and debt financing to small businesses, agribusiness, solar projects, and affordable housing, with a strong focus on supporting entrepreneurs in underserved communities. Their investment approach includes flexible capital solutions to help businesses grow and thrive. Notably, Advantage Capital has been involved in transactions relevant to the outdoor footwear industry, such as their investments in Quoddy, a footwear company that raised funds through both debt financing and Series A funding. This involvement highlights their capacity to engage with the outdoor footwear market, alongside their broader investment portfolio.


5. Iconix International Inc

  • Website: iconixbrand.com
  • Type: Corporate
  • Headquarters: Palm Beach, Florida, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 1
  • LinkedIn: iconix-brand-group

Iconix International Inc, founded in 2005 and based in Palm Beach, Florida, is a corporate brand management company that specializes in licensing and marketing a diverse portfolio of consumer brands across fashion, sports, and home products. The company partners with retailers and manufacturers to enhance brand performance and market presence, focusing on apparel and accessories. Notably, Iconix has made significant acquisitions in the footwear and apparel sectors, including the acquisition of Umbro from Nike Inc. for $225 million in 2012, which is a well-known sports apparel and footwear brand. This acquisition aligns with their strategy to diversify their portfolio and enhance their market presence in the footwear industry. Additionally, their acquisition of Mossimo Inc. and the marine apparel brand Salt Life further demonstrates their active role in the apparel market, which can include outdoor-related products. Overall, Iconix's strategic acquisitions indicate a strong interest in expanding their influence in the footwear market, including outdoor footwear.


6. Accel

  • Website: accel.com
  • Type: Venture Capital
  • Headquarters: Palo Alto, California, United States (USA)
  • Founded year: 1983
  • Headcount: 51-200
  • Number of deals in 2024: 101
  • LinkedIn: accel-vc

Accel is a venture capital firm founded in 1983, based in Palo Alto, California, that specializes in investing in startups and early-stage companies. The firm primarily focuses on the technology sector but has also made notable investments in the footwear industry. For instance, Accel participated in funding rounds for M.Gemi, a direct-to-consumer luxury footwear brand, contributing to both their Series B and Series C rounds, which raised significant capital to support the brand's growth. Additionally, Accel invested in Shoes 4 the Shoeless, a company dedicated to providing shoes to those in need, showcasing their engagement in the footwear space. With a total of 101 investments in 2024, Accel continues to be an active player in various sectors, including footwear.


7. Deep Tech Fund (an Alumni Ventures Fund)

  • Website: av.vc
  • Type: Venture Capital
  • Headquarters: Manchester, New Hampshire, United States (USA)
  • Founded year: 2023
  • Headcount: 51-200
  • Number of deals in 2024: 258
  • LinkedIn: deep-tech-fund-av-focused-fund

Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. The firm provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. Notable transactions include investments in Klymit, which focuses on outdoor gear, and Thousand Fell, which is involved in sustainable footwear. These investments suggest a commitment to the outdoor and active lifestyle sectors, making them a relevant player in the outdoor footwear market.


8. Forerunner


Forerunner Ventures is a venture capital firm based in San Francisco, California, founded in 2012. The firm specializes in early-stage investments in consumer technology and innovative businesses, providing capital and strategic guidance to startups. Notably, Forerunner has participated in funding rounds for companies like Cotopaxi, an outdoor gear and apparel company, where they contributed to both a $6.5M Series A round in 2015 and a $3M seed round in 2014. Additionally, they invested in Outdoor Voices, an apparel company focused on active lifestyles, participating in multiple funding rounds including a $7 million Series A in 2015 and a $34 million Series C in 2018. These transactions highlight Forerunner's commitment to supporting brands that cater to outdoor enthusiasts, making them a relevant investor in the outdoor footwear industry.


9. Tiger Global

  • Website: tigerglobal.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2001
  • Headcount: 51-200
  • Number of deals in 2024: 25
  • LinkedIn: tiger-global-management

Tiger Global Management, LLC is a prominent investment firm based in New York, specializing in both public and private equity investments. Founded in 2001, the firm manages approximately $50 billion and focuses on innovative companies leveraging technology. Among its notable transactions, Tiger Global has invested in Allbirds, raising $50 million in Series C and $17.5 million in Series B, highlighting its interest in sustainable and outdoor footwear. Additionally, the firm has invested in Grupo Netshoes, a significant player in the footwear market, further showcasing its engagement in the footwear industry. Tiger Global's clients include institutional investors and high-net-worth individuals seeking expert investment management and advisory services, making it a key player in the investment landscape.


10. SV Angel

  • Website: svangel.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2009
  • Headcount: 1-10
  • Number of deals in 2024: 44
  • LinkedIn: sv-angel

SV Angel is a venture capital firm based in San Francisco, California, founded in 2009. They specialize in early-stage and growth-stage investments, primarily in the technology sector, providing financial backing, strategic advice, and access to a vast network of industry experts. Among their notable transactions, SV Angel invested in PLAE, which raised $3.8 million in a seed round in 2014, focusing on innovative children's footwear designed for active lifestyles. Additionally, they were involved in Zappos, a well-known online shoe and clothing retailer, which raised $150,000 in its Series A round in 1999. These transactions highlight SV Angel's engagement in the footwear industry, particularly in companies that emphasize functionality and innovation, aligning with the outdoor footwear market.


11. Advent


Advent International Corporation is a private equity firm based in Boston, Massachusetts, founded in 1984. The firm specializes in buyouts and investments across various sectors, providing capital and strategic guidance to help companies achieve growth. Advent operates globally, focusing on long-term value creation for its portfolio companies. Notably, Advent has made significant investments in the footwear industry, including the acquisition of Shoes For Crews in 2004 for $120 million, a company known for its slip-resistant footwear. They also participated in a venture round for Shoes For Crews, raising $30 million in 2004. Additionally, Advent has invested in Lululemon, a brand that, while primarily known for athletic apparel, is also associated with outdoor and active lifestyle products, further demonstrating their engagement in the broader outdoor footwear market.


12. Lerer Hippeau

  • Website: lererhippeau.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 23
  • LinkedIn: lerer-hippeau-ventures

Lerer Hippeau is a venture capital firm based in New York, founded in 2010, that focuses on investing in early-stage startups. They provide essential funding and support to help businesses grow, connecting talented professionals with opportunities in their portfolio companies. Notably, Lerer Hippeau has been involved in several key transactions in the outdoor footwear industry, including multiple funding rounds for Allbirds, where they participated in a Seed Round, Series A, and Series B, totaling over $20 million in investments. Additionally, they invested in Cotopaxi, an outdoor gear and apparel company, which further highlights their engagement in the outdoor sector. This combination of investments showcases Lerer Hippeau's commitment to supporting innovative companies in the outdoor footwear and gear market.


13. Blackstone

  • Website: blackstone.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 57
  • LinkedIn: blackstonegroup

Blackstone Inc. is a leading investment management firm based in New York, specializing in alternative investments. Founded in 1985, Blackstone has built a reputation for its extensive portfolio and investment strategies that focus on delivering lasting value. Among its notable transactions, Blackstone acquired the German outdoor retailer Jack Wolfskin for approximately 700 million euros, which highlights its commitment to the outdoor industry. Additionally, Blackstone has invested in Crocs, a prominent footwear brand, through a post-IPO equity raise, further emphasizing its involvement in the footwear sector. These transactions illustrate Blackstone's strategy of investing in strong businesses within the outdoor and footwear markets, alongside its broader focus on private equity, real estate, and credit solutions.



Outdoor Footwear Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
L CattertonUnited States (USA)201-500198923
FJ LabsNew York, New York, United States (USA)11-502015169
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
Iconix International IncPalm Beach, Florida, United States (USA)51-20020051
AccelPalo Alto, California, United States (USA)51-2001983101
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
ForerunnerSan Francisco, California, United States (USA)11-50201212
Tiger GlobalNew York, New York, United States (USA)51-200200125
SV AngelSan Francisco, California, United States (USA)1-10200944
AdventBoston, Massachusetts, United States (USA)501-1000198417
Lerer HippeauNew York, New York, United States (USA)11-50201023
BlackstoneNew York, New York, United States (USA)1001-5000198557


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