The cycling accessories manufacturing industry in the US is a dynamic sector focused on producing a wide variety of products that enhance the cycling experience. Companies here design and manufacture everything from helmets and lights to bike repair tools and apparel. As consumer interest in sustainable transportation grows, the industry is expected to pivot towards eco-friendly materials and innovative designs. In recent years, the rise of electric bikes has reshaped market demands, leading to more investments in advanced technology and smart cycling solutions. This trend is encouraging collaborations between conventional bike manufacturers and tech startups, promising exciting developments ahead.


Our spotlight on investors showcases a mix of venture capitalists and private equity firms actively shaping the cycling accessories manufacturing scene in the US. The listed investors, which range from startup incubators like HAX in San Francisco to private equity giants such as KKR in New York, vary in size from small teams to massive organizations with thousands of employees. Founded across several decades, these firms collectively participated in a notable range of investments. In 2024 alone, they tallied a remarkable deal count, reflecting a vibrant deal-making atmosphere in this growing market.


Top 16 Cycling Accessories Manufacturing Investors in the US


1. Hax

  • Website: hax.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2012
  • Headcount: 11-50
  • Number of deals in 2024: 55
  • LinkedIn: hax

HAX is a venture capital firm and startup incubator based in San Francisco, California, founded in 2012. They specialize in supporting hard tech startups by providing funding, engineering support, and access to manufacturing resources. HAX aims to accelerate the growth of early-stage companies through a collaborative environment and extensive networks. Among their notable transactions, they invested in Scooterson, which raised $55,000 in a Pre-Seed round in 2016, indicating their interest in innovative mobility solutions. While their portfolio includes various sectors, their engagement with companies like Scooterson suggests a potential interest in the cycling accessories market, particularly those that align with sustainability and innovative transportation solutions.


2. The Riverside Company


The Riverside Company is a private equity investment firm based in New York, specializing in providing flexible capital solutions and strategic guidance to smaller middle-market businesses across various industries. Founded in 1988, Riverside manages a diverse portfolio of over 140 companies globally. Notably, Riverside has made significant investments in the cycling sector, including the acquisition of Bike24, a prominent German bicycle retailer, in 2019, and a previous investment in the same company in 2015. These transactions highlight Riverside's commitment to the cycling accessories market, showcasing their capability to support growth in this industry.


3. 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 founded in 1989, specializing in investment management with a focus on consumer brands across various sectors. 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 has made significant investments in the cycling industry, including the acquisition of Cicli Pinarello S.p.A, a prominent player in the premium cycling market, which aims to enhance its growth and global presence. Additionally, L Catterton led a Series A funding round for Tenways, an electric bicycle company, and participated in a growth capital investment in Peloton, an indoor cycling company. These transactions highlight L Catterton's commitment to driving growth and innovation within the cycling sector, making it a relevant investor in cycling accessories manufacturing.


4. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has established itself as a global leader in asset management, providing tailored solutions to institutional investors and individual clients. Among its notable transactions, KKR acquired Accell Group NV, a significant player in the cycling industry, for €1.56 billion, highlighting its commitment to the cycling market. Additionally, KKR led a $450 million funding round for Zwift, a platform that is venturing into the hardware space, which could include cycling accessories. These investments reflect KKR's strategic focus on sectors that align with cycling and fitness, reinforcing its relevance in the cycling accessories manufacturing context.


5. 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, specializing in marketplace and network effect businesses. Founded in 2015, the firm has made over 1,000 investments, with many companies achieving unicorn status. FJ Labs focuses on providing capital and strategic guidance to startups across various industries, including e-commerce and logistics. Notably, they invested in Angell, a France-based smart bike manufacturer, which raised €12 million to enhance its development and expand its market presence in Europe. This investment highlights FJ Labs' engagement in the cycling accessories sector, alongside their other investments in companies like Tracksmith and SidelineSwap, which, while not directly related to cycling accessories, showcase their diverse portfolio in the sports and marketplace industries.


6. Morgan Stanley

  • Website: morganstanley.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1986
  • Headcount: 10001+
  • Number of deals in 2024: 79
  • LinkedIn: morgan-stanley

Morgan Stanley is a leading investment bank and financial services firm founded in 1986, headquartered in New York, New York. The firm offers a wide range of services, including wealth management, investment banking, and capital markets, catering to individuals, families, corporations, and governments. With a global presence, Morgan Stanley leverages its expertise to provide tailored financial solutions. Notably, Morgan Stanley has made significant investments in the cycling sector, including a $154 million investment in Rad Power Bikes during their Series D funding round in October 2021, and a $150 million investment in a Series C round in February 2021, aimed at expanding the company's retail footprint and service network. Additionally, Morgan Stanley Capital Partners has invested in Nivel Parts & Manufacturing, a manufacturer of aftermarket parts for personal transportation vehicles, which includes cycling accessories. These transactions highlight Morgan Stanley's commitment to supporting innovation and growth within the cycling accessories manufacturing industry.


7. Trek Bicycle

  • Website: trekbikes.com
  • Type: Corporate
  • Headquarters: Waterloo, Wisconsin, United States (USA)
  • Founded year: 1976
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: trekbikes

Trek Bicycle Corporation, founded in 1976 and based in Waterloo, Wisconsin, is a prominent bicycle manufacturer and retailer known for its extensive range of bicycles, accessories, and apparel tailored for both cycling enthusiasts and casual riders. The company is committed to delivering high-quality products that cater to various cycling needs, including road, mountain, and electric bikes. In recent years, Trek has actively expanded its presence in the cycling market through strategic acquisitions. Notably, they acquired Electra Bicycle Company in 2014, enhancing their portfolio of cycling products. In 2022, Trek further solidified its market position by acquiring Race Pace Bicycles, a chain of bike shops in Baltimore, and David's World Cycle, a Florida-based chain with 21 stores. These acquisitions reflect Trek's ongoing strategy to strengthen its retail network and enhance the local cycling community, thereby reinforcing its commitment to the cycling accessories market.


8. Norwest Equity Partners (NEP)

  • Website: nep.com
  • Type: Private Equity
  • Headquarters: Minneapolis, Minnesota, United States (USA)
  • Founded year: 1961
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: norwest-equity-partners

Norwest Equity Partners (NEP) is a private equity investment firm based in Minneapolis, Minnesota, founded in 1961. The firm specializes in providing capital and strategic guidance to businesses across various sectors, focusing on building industry leaders and fostering sustainable growth through long-term partnerships. NEP has been involved in several notable transactions, including their investment in Wahoo Fitness, a company known for its innovative cycling products, and the acquisition of United Sports Brands, the parent company of Shock Doctor, which produces sports-related accessories. These transactions highlight NEP's engagement in the sports and cycling accessories market, showcasing their commitment to enhancing operations and market positions within these industries.


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 New York-based investment firm specializing in public and private equity investments. Founded in 2001, the firm manages approximately $50 billion and focuses on innovative companies leveraging technology. Its clients include institutional investors and high-net-worth individuals seeking expert investment management and advisory services. Notably, Tiger Global has invested in the cycling sector, participating in funding rounds for Cowboy, a Belgian e-bike startup, which raised €71.3M in Series C funding, and Peloton, a stationary bike startup, which raised $30 million in Series C funding. These investments highlight Tiger Global's commitment to supporting companies that are enhancing the cycling experience through technology and innovation.


10. Kleiner Perkins

  • Website: kleinerperkins.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 1972
  • Headcount: 11-50
  • Number of deals in 2024: 38
  • LinkedIn: kleiner-perkins

Kleiner Perkins is a venture capital firm based in Menlo Park, California, founded in 1972. The firm specializes in investing in early-stage and growth companies, providing both capital and strategic support to entrepreneurs. With a focus on technology and life sciences, Kleiner Perkins has backed over 900 ventures, establishing itself as a significant player in the venture capital landscape. Among their notable transactions, they have invested in Peloton, a leading fitness company known for its cycling equipment and accessories, which has raised substantial funding rounds, including $325 million in Series E and $550 million in Series F. Additionally, their investment in Segway-Ninebot, which raised $35 million in Series C, highlights their interest in innovative mobility solutions. These transactions reflect Kleiner Perkins' engagement in sectors that are relevant to cycling and fitness, reinforcing their position as a potential investor in cycling accessories manufacturing.


11. Fox Factory

  • Website: ridefox.com
  • Type: Corporate
  • Headquarters: Duluth, Georgia, United States (USA)
  • Founded year: 1974
  • Headcount: 1001-5000
  • LinkedIn: fox-racing-shox

Fox Factory Holding Corp., founded in 1974 and based in Duluth, Georgia, is a corporate investor and manufacturer specializing in high-performance suspension components for various vehicles, including motorcycles, trucks, and mountain bikes. The company serves both individual consumers and businesses in the outdoor sports and automotive industries, providing products that enhance vehicle performance and safety. Notably, Fox Factory has made significant acquisitions to bolster its presence in the cycling accessories market, including the acquisition of Race Face Performance Products Ltd. and Easton Cycling for approximately $30.2 million in 2014, which aimed to enhance their product offerings in cycling. Additionally, their recent acquisition of Marucci Sports for $572 million in 2023 further demonstrates their active investment strategy, although this is more focused on sports equipment. Overall, Fox Factory's strategic acquisitions in the cycling sector position them as a relevant player in the cycling accessories manufacturing industry.


12. Vista Outdoor Inc.


Vista Outdoor Inc. is a corporate investor based in Anoka, Minnesota, founded in 1916. The company designs, manufactures, and markets a diverse range of sporting and outdoor products, catering to outdoor enthusiasts with high-quality and innovative goods. Notably, Vista Outdoor has made significant acquisitions to enhance its presence in various outdoor markets. In 2022, it acquired Fox Racing for $540 million, a prominent brand in the cycling industry known for its cycling apparel and protective gear. This acquisition highlights Vista Outdoor's strategic interest in the cycling accessories market. Additionally, the company acquired CamelBak Products, a leader in personal hydration solutions, and QuietKat, which focuses on electric bikes for outdoor adventures. These transactions demonstrate Vista Outdoor's commitment to expanding its portfolio in outdoor sports, including cycling, making it a relevant player in the cycling accessories manufacturing sector.


13. Amazon

  • Website: amazon.com
  • Type: Corporate
  • Headquarters: Seattle, Washington, United States (USA)
  • Headcount: 10001+
  • Number of deals in 2024: 37
  • LinkedIn: amazon

Amazon.com, Inc. is a multinational technology company based in Seattle, Washington, primarily known for its e-commerce platform that offers a vast array of products and services. Founded in 1994, Amazon has expanded its operations to include cloud computing, online advertising, digital streaming, and artificial intelligence. In recent years, Amazon has participated in various funding rounds, including a notable investment in Zwift, a fitness platform that is venturing into hardware, potentially related to cycling accessories. This investment reflects Amazon's interest in the fitness and cycling space, although it is not exclusively focused on cycling accessories. Other transactions, such as grants to WAW Handplanes and Zig+Star, do not directly relate to cycling accessories, further indicating that Amazon's investment strategy is broad and not limited to this niche.


14. North Castle Partners


North Castle Partners is a private equity firm based in New York, specializing in investment management and consulting services for consumer brands in the Healthy, Active, and Sustainable Living sectors. Founded in 1997, the firm partners with entrepreneurs to scale their businesses through strategic guidance and operational support. Notably, North Castle Partners acquired Performance Bicycle in 2007, a significant player in the cycling accessories market, demonstrating their commitment to the cycling industry. Additionally, they have made investments in other sports-related companies, such as Cascade Lacrosse and Sparx Hockey, indicating a broader interest in active lifestyle brands. Their focus on creating value for both companies and investors aligns with their strategic investments in the cycling sector.


15. Norwest

  • Website: nvp.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 1961
  • Headcount: 51-200
  • Number of deals in 2024: 41
  • LinkedIn: norwest-venture-partners

Norwest Venture Partners is a venture capital and growth equity investment firm founded in 1961, based in Menlo Park, California. The firm provides funding and strategic support to early to late-stage companies across various sectors, including technology and healthcare. Notably, Norwest has made significant investments in the cycling industry, including a $128 million Series C investment in VanMoof, a company known for its innovative electric bicycles, and a $40 million Series B investment in the same company to boost production and global expansion. Additionally, they invested in The Breakaway, a connected training app for cyclists, which raised $2.9 million in seed funding. These transactions highlight Norwest's commitment to supporting businesses that cater to the cycling community, further establishing their relevance in the cycling accessories manufacturing sector.


16. Garmin


Garmin Ltd. is a technology company founded in 1989, headquartered in Olathe, Kansas, specializing in GPS navigation and wearable technology. The company offers a diverse range of products, including smartwatches, fitness trackers, automotive navigation systems, and marine electronics. Garmin serves consumers and businesses across various industries, providing solutions that enhance navigation, fitness tracking, and outdoor activities. Notably, Garmin has made strategic acquisitions to expand its product offerings, including the acquisition of iKubu in January 2015, a South African startup focused on computer vision and radar systems for the cycling market. This acquisition highlights Garmin's commitment to integrating innovative technology into cycling accessories. Additionally, Garmin has acquired companies like DeLorme, Vesper Marine, and Nautamatic Marine Systems, which, while primarily focused on marine technology, showcase Garmin's broader strategy of enhancing its product lineup across various outdoor and navigation sectors.



Cycling Accessories Manufacturing Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
HaxSan Francisco, California, United States (USA)11-50201255
The Riverside CompanyNew York, New York, United States (USA)201-500198812
L CattertonUnited States (USA)201-500198923
KkrNew York, New York, United States (USA)1001-5000197674
FJ LabsNew York, New York, United States (USA)11-502015169
Morgan StanleyNew York, New York, United States (USA)10001+198679
Trek BicycleWaterloo, Wisconsin, United States (USA)5001-1000019761
Norwest Equity Partners (NEP)Minneapolis, Minnesota, United States (USA)11-5019611
Tiger GlobalNew York, New York, United States (USA)51-200200125
Kleiner PerkinsMenlo Park, California, United States (USA)11-50197238
Fox FactoryDuluth, Georgia, United States (USA)1001-500019740
Vista Outdoor Inc.Anoka, Minnesota, United States (USA)1-1019160
AmazonSeattle, Washington, United States (USA)10001+37
North Castle PartnersNew York, New York, United States (USA)11-5019970
NorwestMenlo Park, California, United States (USA)51-200196141
GarminOlathe, Kansas, United States (USA)10001+19890


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