The sports merchandising industry in Latin America has gained momentum, fueled by the growing popularity of sports such as football and basketball. This sector includes companies that design, manufacture, and sell apparel, gear, and memorabilia, catering to dedicated fans and casual consumers alike. Traditional brands compete with innovative startups, integrating technology into shopping experiences. As e-commerce rises and social media fuels engagement, the market is shifting towards personalized marketing strategies and novel product offerings. Insights show that as sports events return post-pandemic, there's an increasing appetite for branded merchandise, connecting fans with their favorite teams and athletes.


The investors listed here are primarily venture capitalists and private equity firms, predominantly located in major cities like Sao Paulo, Mexico City, and Bogota. Many were founded in the last decade, reflecting a recent surge in investment activity within Latin America’s sports sector. With deal counts ranging from 0 to 56 in 2024, these firms vary in size, boasting between 1 to 50 employees. Their collective focus illustrates a burgeoning interest in technology and innovative approaches to sports merchandising, setting the stage for exciting growth in the years ahead.


Top 15 Sports Merchandising 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 is committed to empowering entrepreneurs and fostering growth in the startup ecosystem. Among their notable transactions, they invested in Overtime, which raised $23 million in a Series B round, focusing on sports media and content for younger audiences. They also invested in Sorare, a fantasy sports platform that raised $10 million in a Seed round, which merges sports with blockchain technology. These investments highlight Bossa Invest's engagement in the sports merchandising industry, alongside their broader focus on technology startups.


2. 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 and create a more active and enjoyable world. Notable transactions include their investment in G2 Esports, a prominent esports organization, and Sorare, a fantasy sports platform that raised over $48 million in Series A funding. Additionally, they have invested in WSC Sports, which focuses on sports content automation, and Keemotion, a digital media startup that enhances sports broadcasting. These investments highlight Go4it Capital's commitment to the sports industry and its potential relevance to sports merchandising.


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 founded in 2011, based in Sao Paulo, Brazil, that focuses on investing in and supporting entrepreneurs across various technology-driven industries in Latin America. The firm emphasizes long-term partnerships and aims to foster a vibrant technology ecosystem in the region. Among its notable transactions, Kaszek has invested in Grupo Netshoes, a significant player in the online sports retail space, and OQVestir, which operates in the fashion sector. Most relevantly, Kaszek co-led a Series A funding round for Rei do Pitaco, a fantasy sports platform, which raised R$180 million in 2022. This investment highlights Kaszek's engagement with the sports industry, particularly in innovative and technology-driven sports solutions.


4. Verve Capital

  • Website: vervecapital.us
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2019
  • Headcount: 1-10
  • Number of deals in 2024: 3
  • LinkedIn: verve-capital

Verve Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2019. The firm specializes in early-stage investments in technology-driven startups across Latin America, providing not only funding but also strategic support to help entrepreneurs achieve significant growth. Verve Capital has a diverse portfolio, with a focus on innovative sectors such as FinTech, HealthTech, and EdTech. Among their notable transactions, they invested in Religion of Sports, which raised $50 million in a Series B funding round and is known for its emotional storytelling in sports, winning multiple Sports Emmys. They also invested in Esporte Educa, a startup focused on sports education, indicating their engagement in the sports sector. These investments highlight Verve Capital's interest in the intersection of technology and sports, making them a relevant player in the sports merchandising landscape.


5. Canary

  • Website: canary.com.br
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 23
  • LinkedIn: canary-venture-capital

Canary is a venture capital firm based in Sao Paulo, Brazil, founded in 2017. They specialize in early-stage investments across Latin America, focusing on supporting entrepreneurs with capital, co-founding assistance, and building a strong community of builders. In 2022, they participated in a seed round for Matchday, a startup that operates within the sports sector, indicating their interest in sports-related ventures. Additionally, they have been involved in various other transactions, such as funding Bendo, a social commerce startup, and ZAX, a B2B trade platform, showcasing their diverse investment portfolio. However, their notable engagement in the sports industry through Matchday highlights their potential relevance to sports merchandising.


6. 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 in the sports sector, indicating their engagement with the sports industry. Additionally, they have been involved in various other sectors, such as tourism and retail, through investments in Grupo Turistore and Modatelas. This diverse portfolio showcases their capability to enhance operations and market presence across different industries, including sports merchandising.


7. Ideas & Capital


Ideas y Capital is a venture capital firm based in Mexico City, founded in 2013. The firm specializes in investing in early-stage and growth companies across various industries, including technology, healthcare, and fintech. Their investment strategy is sector-agnostic, allowing them to capture diverse opportunities in the market. Notably, Ideas & Capital has invested in DEPORPRIVÉ, a company that raised a total of $950,000 in seed rounds in 2019 and 2020, focusing on sports products. Additionally, they participated in the seed round for Golazzos, a company that may have relevance in the sports sector. While their portfolio includes a variety of sectors, their involvement in these sports-related transactions suggests a potential interest in the sports merchandising industry.


8. Allievo Capital

  • Website: allievocapital.com
  • Type: Corporate
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2019
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: allievo-capital

Allievo Capital is a private equity firm based in Sao Paulo, Brazil, founded in 2019. The firm specializes in venture capital, search funds, and growth equity, focusing on creating long-term value by investing in high-quality companies poised for disruptive change. Among their notable transactions, Allievo Capital invested $10 million in Religion of Sports during a Series A funding round in July 2020, which is a company that operates within the sports industry. This investment highlights their interest in sports-related ventures. Additionally, they participated in other funding rounds, such as Greenfly, which, while not directly related to sports merchandising, indicates their active role in the venture capital landscape. Overall, Allievo Capital is positioned as an investor that seeks innovative opportunities, including those in the sports sector.


9. Magma Partners

  • Website: magmapartners.com
  • Type: Venture Capital
  • Headquarters: Providencia, Santiago, Chile
  • Founded year: 2014
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: magma-partners

Magma Partners is a venture capital firm based in Providencia, Santiago, Chile, founded in 2014. The firm specializes in investing in early-stage startups across Latin America, providing both funding and advisory services to entrepreneurs. With a portfolio of over 125 companies, Magma Partners aims to address significant regional challenges and support scalable technology businesses. Notably, they participated in a $74 million growth funding round for FZ Sports, a Miami-based sports media and technology company, alongside other investors. This investment highlights their engagement in the sports sector, particularly in innovative companies that blend sports with technology, which is relevant to the sports merchandising industry.


10. TreeCorp Investimentos


TreeCorp Investimentos is a private equity firm based in Sao Paulo, Brazil, founded in 2012. The firm specializes in investing in high-growth companies and works closely with entrepreneurs to enhance business performance and unlock value through strategic investments. In 2023, TreeCorp made a notable acquisition of Coritiba Foot Ball Club for approximately $260.67 million, marking a significant entry into the sports sector. This investment highlights their commitment to the sports industry and their potential involvement in sports merchandising. Additionally, they participated in a private equity round for Tania Bulhões, although this transaction is not directly related to sports. Overall, TreeCorp's focus on strategic investments positions them as a player in the sports merchandising landscape, particularly through their football club acquisition.


11. Marathon Ventures

  • Website: marathonvc.com
  • Type: Venture Capital
  • Headquarters: Bogota, Bogota, Colombia
  • Founded year: 2020
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: marathon-lab

Marathon Ventures is a venture capital firm based in Bogota, Colombia, founded in 2020. The firm specializes in investing in early-stage technology companies in Latin America, providing capital, networking opportunities, and advisory services to help startup founders build impactful B2B solutions. Among their portfolio, they have made notable investments in various innovative startups, including Fanki, which secured a $6M seed round aimed at developing an online platform to connect sports clubs with fans. This investment highlights Marathon Ventures' engagement in the sports sector, particularly in enhancing fan experiences, which is integral to sports merchandising. Additionally, they have invested in Wonder Brands, although this transaction is less directly related to sports merchandising. Overall, their involvement in the sports-related startup Fanki positions them as a relevant player in the sports merchandising landscape.


12. Columbia Ventures Brazil


Columbia Ventures Brazil is a corporate startup accelerator based in Sao Paulo, Brazil, founded in 2021. The firm connects entrepreneurs with investors, providing mentorship, capital, and networking opportunities to foster the startup ecosystem in Latin America. While it primarily focuses on industries like Fintech and Healthtech, Columbia Ventures has also made notable investments in the sports sector, including FURIA Esports, a leading esports organization that raised an undisclosed amount in a venture round in January 2022. This investment highlights Columbia Ventures' engagement with the sports merchandising industry, particularly in the growing field of esports, where merchandise sales are a key revenue stream. Additionally, they participated in the funding round for Zissou, although this transaction is less directly related to sports merchandising. Overall, Columbia Ventures Brazil is positioned as a versatile investor with a growing interest in the sports sector.


13. 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, founded in 1948. As a prominent sportswear retailer, PUMA specializes in athletic footwear, apparel, and accessories, catering to a diverse customer base that includes both athletes and fashion enthusiasts. The company operates through an online store, providing easy access to their latest collections and promotions. Notably, PUMA has been involved in significant transactions, such as the acquisition of Cobra Golf from Acushnet Co. This acquisition aims to enhance PUMA's presence in the golf club market, which is a strategic move to diversify their product offerings within the sports merchandising sector. This transaction highlights PUMA's commitment to expanding its influence in various sports markets, reinforcing its position as a key player in the sports merchandising industry.


14. B Capital Group


B Capital Group is a financial services firm based in Sao Paulo, Brazil, specializing in providing solutions for the investment fund market, particularly in credit rights funds and securitization. The firm offers consulting services tailored to the needs of businesses and fund managers, helping them navigate complex financial landscapes and optimize their investment strategies. Notably, B Capital Group participated in a significant funding round for FanCraze, a Flow-based NFT marketplace for official cricket collectibles, which raised approximately $100 million. This involvement highlights their interest in innovative sports merchandising opportunities, particularly in the realm of digital collectibles and fan engagement.


15. MAS Equity Partners


MAS Equity Partners is a private equity firm founded in 2009, based in Cajicá, Bogota, Colombia. The firm specializes in investment management and strategic guidance for medium-sized companies in the Andean region, focusing on providing minority equity investments and support to visionary entrepreneurs. Notably, MAS Equity Partners has made significant investments in the sports sector, particularly through their involvement with SportsManias, a sports news startup. They led a $3.5 million funding round in 2014, contributing $3 million, and previously invested $1 million in an earlier round in 2013. These transactions highlight their commitment to supporting businesses that operate within the sports industry, particularly those that may influence sports merchandising through media and product development.



Sports Merchandising Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
bossa investSao Paulo, Sao Paulo, Brazil11-50201156
Go4it CapitalSao Paulo, Sao Paulo, Brazil1-1020150
KaszekSao Paulo, Sao Paulo, Brazil11-50201117
Verve CapitalSao Paulo, Sao Paulo, Brazil1-1020193
CanarySao Paulo, Sao Paulo, Brazil11-50201723
Nexxus CapitalMexico City, Mexico City, Mexico11-5019950
Ideas & CapitalMexico City, Mexico City, Mexico1-1020130
Allievo CapitalSao Paulo, Sao Paulo, Brazil1-1020191
Magma PartnersProvidencia, Santiago, Chile11-5020146
TreeCorp InvestimentosSao Paulo, Sao Paulo, Brazil11-5020120
Marathon VenturesBogota, Bogota, Colombia1-1020209
Columbia Ventures BrazilSao Paulo, Sao Paulo, Brazil1-1020213
PUMA México Sport S.A. de C.V.Mexico City, Mexico City, Mexico1-1019480
B Capital GroupSao Paulo, Sao Paulo, Brazil1-100
MAS Equity PartnersCajicá, Bogota, Colombia11-5020090


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