The fitness equipment industry in Latin America is rapidly expanding, driven by a growing focus on health and wellness among consumers. Various companies operate within this space, offering products ranging from home gym equipment to advanced exercise machines designed for commercial use. Specialists in digital fitness, wearables, and connected devices are emerging, reshaping how users engage with fitness. Interesting trends include increased investment in smart technology and innovative solutions catering to remote training preferences. As more consumers prioritize fitness in their lives, this industry is set to innovate and reach new heights, creating exciting opportunities for growth and advancement.


This article explores 16 notable investors within the fitness equipment sector in Latin America. These investors include venture capital firms, private equity players, and corporate investors, primarily headquartered in Sao Paulo and Mexico City. Founded between 1995 and 2021, their sizes range from small firms to established players, with investment activity varying from zero to 220 million in 2024 alone. Each brings unique expertise and vision, reflecting diverse interests in health and wellness initiatives across the region's growing fitness landscape.


Top 16 Fitness Equipment 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. Notably, Bossa Invest has made investments in the fitness equipment industry, including a $8 million Series A investment in FightCamp, a company that offers a connected fitness solution for boxing enthusiasts. Additionally, they have invested in Ergatta, which focuses on interactive rowing machines, further emphasizing their commitment to the fitness sector. Bossa Invest also aims to empower entrepreneurs and foster growth in the startup ecosystem by offering educational resources for both investors and startups.


2. 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, Kaszek has been involved in significant transactions such as Gympass, which received a $220 million investment to expand its fitness solutions in the US, highlighting Kaszek's engagement in the fitness sector. Additionally, they have invested in Wellhub, a company that has raised substantial funding across multiple rounds, indicating their commitment to supporting health and wellness-related startups. These transactions reflect Kaszek's strategic interest in the fitness equipment and wellness industry, alongside their broader investment portfolio.


3. 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 corporate investor based in Sao Paulo, Brazil, founded in 2019. The firm specializes in technology and wellness, offering innovative tech solutions and health-related products aimed at health-conscious consumers and businesses. Their diverse portfolio includes healthy snacks, fitness-related services, and consulting, positioning them as a leader in the wellness and tech sectors. In 2024, Moriah Asset participated in notable transactions such as the investment in Utreino, which raised funds in a Seed Round, indicating their commitment to supporting companies in the fitness space. This involvement highlights their strategic focus on enhancing health and fitness through technology and innovative solutions.


4. Nexxus Capital


Nexxus Capital is a private equity investment firm based in Mexico City, Mexico, founded in 1995. The firm specializes in private equity and mezzanine debt for mid-sized companies primarily in Mexico and Spain. Nexxus Capital manages multiple funds aimed at providing capital to help businesses grow and expand their operations. Among their notable transactions, they invested in Grupo Sports World, a company that operates fitness centers and wellness facilities, indicating their involvement in the fitness industry. Additionally, they have participated in funding rounds for companies like Immunotec and Genomma Lab, although these are not directly related to fitness equipment. Overall, Nexxus Capital's investment strategy includes a diverse range of sectors, but their engagement with Grupo Sports World highlights their potential relevance to the fitness equipment market.


5. Toro Ventures VC


Toro Ventures VC is a corporate 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 invested in companies like InstaFit, which raised $300,000 in a seed round in October 2017, and Vitau, which secured $3,000,000 in a seed round in August 2019. Additionally, they participated in the Series A funding of BEWE (formerly miora), which raised $2,275,354 in December 2018. These transactions highlight their engagement in the fitness and wellness sector, making them a relevant player in the fitness equipment investment landscape.


6. ArkFund


ArkFund is a venture capital firm founded in 2016, based in San Francisco Tecoxpa, Ciudad De México, Mexico. The firm specializes in early-stage investments across various industries, including Fintech, Health, and Education. ArkFund aims to support founders by providing capital, mentorship, and a community of experienced investors. They have been involved in several transactions, including a notable investment in InstaFit, which raised $300,000 in a Seed Round in October 2017, indicating their engagement in the fitness sector. Other investments include 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. While their portfolio includes a fitness-related company, their broader investment focus may limit their relevance to a specific fitness equipment investor list.


7. 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. In addition to their primary focus, Honey Island has made notable investments in the fitness equipment context, particularly in Tecnofit, a startup that focuses on gym management. They led a Series A investment round for Tecnofit, contributing R$13 million, which followed an earlier seed investment in the same company. This involvement highlights their commitment to supporting businesses that enhance the fitness industry, despite their broader fintech focus.


8. 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 operations in the Brazilian market and internationally. This investment highlights Hiker Ventures' interest in the health and fitness sector, complementing their broader investment strategy. Additionally, they were involved in a funding round for Semexe, although the specifics of that transaction do not directly relate to fitness equipment.


9. 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. In addition to these sectors, Andrezo-Invest has made notable investments in the fitness industry, such as their participation in the Series B funding round for Fitpass México in April 2019, which raised an undisclosed amount. This investment highlights their engagement in the fitness sector, alongside other investments like Grover, which focuses on technology and consumer electronics. Although their primary focus may not be solely on fitness equipment, their involvement in fitness-related transactions demonstrates a diversified investment strategy that includes the fitness industry.


10. Quartz


Quartz is a private equity firm based in Sao Paulo, Brazil, founded in 2020. They are a venture capital and growth equity fund that invests in high-growth companies across various industries, providing capital and strategic support to help businesses scale and navigate challenges. Quartz emphasizes transparency and partnership, aligning with companies that share their values. Notably, they participated in a Series A investment in Tecnofit, a startup focused on gym management, which received R$13 million in funding. This involvement highlights their interest in the fitness sector, even if their overall investment strategy spans multiple industries. Additionally, they were involved in a venture round for Wap, although this transaction is less directly related to fitness equipment.


11. Parceiro Ventures


Parceiro Ventures is a venture capital firm based in Sao Paulo, Brazil, specializing in investing in B2B software companies. Founded with a mission to provide essential funding for innovative solutions, the firm has been active in the Brazilian market. Notably, they participated in a seed investment round for Next Fit, a startup that aims to become a leading solution for gym management in Latin America, receiving R$ 4 million alongside DOMO Invest. This investment highlights their engagement in the fitness sector, as Next Fit directly supports gym operations. Additionally, they were involved in a Series A funding round for Welbe Care, although this transaction is less relevant to fitness equipment. Overall, Parceiro Ventures demonstrates a willingness to invest in the fitness industry, particularly in technology that enhances gym management and operations.


12. 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, primarily targeting middle-market companies. Shift Capital partners with entrepreneurs to provide not only capital but also operational support, business development, capital structuring, and governance to help businesses scale effectively. One of their notable transactions includes an investment in Bluefit Academia, a fitness company that raised an undisclosed amount in a seed round in January 2018. This investment highlights their engagement in the fitness industry, showcasing their capability and interest in supporting businesses within this sector.


13. 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 is dedicated to supporting entrepreneurs and startups across a variety of industries, including Fintech, E-commerce, and EdTech. They provide both investment and consulting services aimed at fostering business growth and success. Notably, Capital Invent has invested in the fitness sector, specifically in InstaFit, which raised a total of $800,000 across two seed rounds in 2014 and 2017. This involvement in a fitness-related company highlights their interest in the fitness industry, aligning with their mission to create a positive impact through ethical entrepreneurship, emphasizing values such as empathy and innovation.


14. 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 focuses on providing both investment and strategic support to help these businesses grow, aiming to create a more active and enjoyable world. Notably, they have participated in funding rounds for Strava, a leading fitness tracking platform, which raised significant capital in both Series E and Series F financing rounds. This involvement highlights their commitment to supporting companies that enhance fitness and well-being, making them a relevant player in the fitness equipment investment landscape.


15. Soldiers Field Angels


Soldiers Field Angels is a venture capital fund based in Mexico City, Mexico, founded in 2013. The firm specializes in providing seed, venture, and growth capital to high-impact startups across Mexico and Latin America. With a team primarily composed of Harvard Business School alumni, they offer not only financial support but also mentorship to entrepreneurs. One notable transaction in their portfolio is the investment in Fitpass México, which raised an undisclosed amount in a venture round on April 15, 2017. Fitpass is a platform that provides access to various fitness facilities and classes, highlighting Soldiers Field Angels' engagement in the fitness industry. This investment reflects their potential interest in the fitness equipment sector, alongside their broader focus on health and wellness.


16. 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 invested in Fitpal, a fitness services company, raising funds in two seed rounds in 2015 and 2018. These transactions highlight inQlab's engagement in the fitness industry, showcasing their interest in supporting innovative solutions within this sector. By focusing on scalable and disruptive projects, inQlab aims to foster innovation and economic growth in the region, including the fitness equipment space.



Fitness Equipment Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
bossa investSao Paulo, Sao Paulo, Brazil11-50201156
KaszekSao Paulo, Sao Paulo, Brazil11-50201117
Moriah AssetSao Paulo, Sao Paulo, Brazil11-5020195
Nexxus CapitalMexico City, Mexico City, Mexico11-5019950
Toro Ventures VCMonterrey, Nuevo Leon, Mexico1-1020160
ArkFundSan Francisco Tecoxpa, Ciudad De México, Mexico1-1020160
Honey IslandCidade Industrial De Curitiba, Paraná, Brazil1-1020153
Hiker VenturesBelo Horizonte, Minas Gerais, Brazil1-1020222
Andrezo-Invest. Têxteis e Audiovisuais SABrazil1-1020130
QuartzSao Paulo, Sao Paulo, Brazil1-1020200
Parceiro VenturesSao Paulo, Sao Paulo, Brazil1-102
Shift CapitalSao Paulo, Sao Paulo, Brazil11-5020172
Capital InventCiudad De Mexico, Ciudad De México, Mexico1-1020130
Go4it CapitalSao Paulo, Sao Paulo, Brazil1-1020150
Soldiers Field AngelsMexico City, Mexico City, Mexico11-5020130
inQlabBogota, Bogota, Colombia1-1020131


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