The fitness centers and gyms industry in Latin America is a growing hub for health-conscious consumers. Companies range from boutique fitness studios to large gym chains, offering services like group classes, personal training, and wellness programs. The industry is increasingly integrating technology; many gyms now feature advanced fitness apps and digital platforms to enhance member experiences. As more people prioritize health, we see a surge in demand for innovative fitness solutions, suggesting the potential for rapid growth in this sector.


This list of investors highlights a mix of venture capital firms, private equity companies, and corporate backers headquartered across Brazil and Mexico. Established between 1995 and 2022, these investors vary in size, with most managing teams of up to 50 individuals. Notably, many provided funding in the past year, indicating a vibrant investment scene. For example, firms like Kaszek and Moriah Asset have focused efforts on driving growth within the fitness sector, showing distinct interest in getting involved.


Top 14 Fitness Centers and Gyms Investors in Latin America


1. 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, they have been involved in significant transactions in the fitness sector, including a substantial investment in Gympass, which raised $220 million to expand its services in the US and enter new categories. This investment highlights Kaszek's commitment to the fitness industry, alongside their broader investment strategy.


2. Nexxus Capital


Nexxus Capital is a private equity investment firm based in Mexico City, specializing in private equity and mezzanine debt for mid-sized companies in Mexico and Spain. Founded in 1995, the firm manages multiple funds aimed at providing capital to help businesses grow and expand. Among their notable transactions, they invested in Grupo Sports World in 2005, a company that operates fitness centers, indicating their engagement in the fitness industry. Additionally, they have been involved in other sectors, such as Immunotec and Santa Fe Grupo Hotelero, but their investment in Grupo Sports World highlights their capability and interest in the fitness and wellness market.


3. ArkFund


ArkFund is a venture capital firm based in San Francisco Tecoxpa, Ciudad De México, founded in 2016. The firm specializes in early-stage investments across various industries, including Fintech, Health, and Education. Notably, ArkFund invested in InstaFit, which raised $300,000 in a Seed Round in October 2017, indicating their engagement in the fitness sector. They also participated in other transactions such as Somos, which raised $1,000,000 in a Pre-Seed Round in January 2022, and Terapify, which raised an undisclosed amount in a Seed Round in December 2019. Through their Angel School program and various workshops, ArkFund aims to enhance the skills and networks of both founders and investors, supporting a diverse range of startups.


4. Toro Ventures VC


Toro Ventures VC is a venture capital firm based in Monterrey, Nuevo Leon, Mexico, founded in 2016. The firm specializes in investing in technology startups, particularly those targeting the Latin American markets. They provide seed capital and support to startups while also facilitating investment opportunities for individual investors and family offices. Notably, Toro Ventures has been involved in several transactions relevant to the fitness industry, including a seed round investment in InstaFit, which raised $300,000 in October 2017, and a seed round investment in Vitau, which raised $3,000,000 in August 2019. These investments highlight their engagement with companies that operate within the fitness and wellness space, showcasing their potential interest in the fitness centers and gyms sector.


5. Honey Island

  • Website: honeyisland.capital
  • Type: Venture Capital
  • Headquarters: Cidade Industrial De Curitiba, Paraná, Brazil
  • Founded year: 2015
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: hi.capital

Honey Island Capital is a venture capital firm founded in 2015, located in Cidade Industrial De Curitiba, Paraná, Brazil. The firm specializes in fintech investments and provides capital and strategic support to startups in the fintech and SaaS B2B sectors. Notably, Honey Island has made significant investments in the fitness industry, particularly in Tecnofit, a startup focused on gym management. They led a Series A investment round for Tecnofit, contributing R$13 million, and previously participated in a Seed round for the same company, investing $618,334. This involvement highlights their interest in supporting businesses that cater to the fitness sector, alongside their primary focus on fintech.


6. 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, partnering with entrepreneurs to provide not only capital but also operational support aimed at scaling businesses effectively. Their services include business development, capital structuring, and governance. Notably, Shift Capital has invested in Bluefit Academia, a fitness center, during its seed round in January 2018. This investment highlights their engagement in the fitness industry, showcasing their commitment to supporting businesses that operate in this sector.


7. Angel Ventures


Angel Ventures is a venture capital firm founded in 2008, based in Mexico, that specializes in early-stage technology investments across Latin America. The firm provides funding, mentorship, and resources to startups, helping them grow in various sectors, including FinTech and E-Commerce. Notably, Angel Ventures has invested in Scape, a Mexico-based on-demand wellness platform, which raised USD $1.3M in a seed round in June 2023. This investment highlights their engagement in the fitness and wellness space. Additionally, they have participated in other technology-focused investments such as Somos and Gooroo, but Scape is particularly relevant to the fitness centers and gyms context, showcasing their potential interest in this industry.


8. 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 technology and wellness company based in Sao Paulo, Brazil, founded in 2019. They specialize in innovative tech solutions and health-related products, catering to 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 participated in significant transactions, including a seed round investment in Utreino, which suggests a focus on fitness-related services. They also engaged in a private equity round with Armybr, further indicating their active role in sectors that may intersect with fitness and wellness.


9. Parceiro Ventures


Parceiro Ventures is a venture capital firm based in Sao Paulo, Brazil, specializing in investing in B2B software companies across the region. Founded with a mission to provide essential funding for innovative solutions, the firm has been actively involved in various transactions. Notably, they invested in Next Fit, a startup that received R$ 4 million to enhance its gym management solutions, aiming to become a leading player in Latin America. This investment highlights Parceiro Ventures' engagement with the fitness industry, alongside their other investments such as Welbe Care, which raised $7 million in Series A funding. While their primary focus remains on B2B software, their involvement in fitness-related ventures demonstrates their potential relevance in the fitness centers and gyms sector.


10. Andrezo-Invest. Têxteis e Audiovisuais SA


Andrezo-Invest. Têxteis e Audiovisuais SA is a private equity firm based in Brazil, founded in 2013. The firm specializes in providing funding and investment management services across various sectors, including fintech, real estate, and agriculture. Notably, they have invested in Fitpass México, a company that operates in the fitness industry, raising an undisclosed amount in a Series B round on April 29, 2019. This investment highlights their engagement in the fitness sector. Additionally, they have participated in funding rounds for Grover, a technology company, raising significant amounts in Series A and Series B rounds. While their portfolio is diverse, their involvement in Fitpass México indicates a willingness to invest in fitness-related businesses.


11. Hiker Ventures

  • Website: hiker.ventures
  • Type: Venture Capital
  • Headquarters: Belo Horizonte, Minas Gerais, Brazil
  • Founded year: 2022
  • Headcount: 1-10
  • Number of deals in 2024: 2
  • LinkedIn: hiker-ventures

Hiker Ventures is a venture capital firm based in Belo Horizonte, Minas Gerais, Brazil, founded in 2022. The firm specializes in supporting early-stage entrepreneurs and startups by providing both funding and advisory services. Hiker Ventures aims to help businesses navigate the challenges of growth and scale, offering a comprehensive understanding of the entrepreneurial journey. In 2023, they participated in a funding round for Radar Fit, a Brazilian health tech startup that raised $1M to expand its market presence, indicating their engagement in the fitness and health sector. Additionally, they were involved in a venture round for Semexe, further showcasing their active role in supporting innovative startups, including those in the fitness industry.


12. 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 made investments in Fitpal, a fitness-related startup, raising funds in two seed rounds in 2015 and 2018. These transactions highlight InQlab's engagement in the fitness industry, demonstrating their interest in supporting innovative solutions within this sector.


13. Soldiers Field Angels


Soldiers Field Angels is a venture capital fund based in Mexico City, Mexico, founded in 2013. The firm specializes in investing in high-impact startups across Mexico and Latin America, providing seed, venture, and growth capital along with mentorship from experienced partners, primarily Harvard Business School alumni. While their focus spans various sectors including Energy, Health, and IT, they have also made investments in the fitness industry, notably in Fitpass México, which raised an undisclosed amount in a venture round in April 2017. This transaction highlights their engagement in the fitness sector, showcasing their potential interest in supporting fitness-related startups.


14. 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 helping businesses grow and succeed, 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-related startup, raising a total of $800,000 in seed rounds in 2014 and 2017. This involvement in the fitness sector highlights their potential interest in fitness centers and gyms, despite their broader investment strategy.



Fitness Centers and Gyms Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
KaszekSao Paulo, Sao Paulo, Brazil11-50201117
Nexxus CapitalMexico City, Mexico City, Mexico11-5019950
ArkFundSan Francisco Tecoxpa, Ciudad De México, Mexico1-1020160
Toro Ventures VCMonterrey, Nuevo Leon, Mexico1-1020160
Honey IslandCidade Industrial De Curitiba, Paraná, Brazil1-1020153
Shift CapitalSao Paulo, Sao Paulo, Brazil11-5020172
Angel VenturesMexico11-5020082
Moriah AssetSao Paulo, Sao Paulo, Brazil11-5020195
Parceiro VenturesSao Paulo, Sao Paulo, Brazil1-102
Andrezo-Invest. Têxteis e Audiovisuais SABrazil1-1020130
Hiker VenturesBelo Horizonte, Minas Gerais, Brazil1-1020222
inQlabBogota, Bogota, Colombia1-1020131
Soldiers Field AngelsMexico City, Mexico City, Mexico11-5020130
Capital InventCiudad De Mexico, Ciudad De México, Mexico1-1020130


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