The hiking gear industry in the US centers around products designed for outdoor enthusiasts seeking connection with nature. Key players include manufacturers of backpacks, apparel, footwear, and camping gear. Companies focus on innovation, improving functionality, and sustainability. Recent trends indicate a rise in eco-conscious consumers, prompting brands to adopt greener practices. The market is expanding as more Americans prioritize outdoor activities and wellness, fueling demand for high-quality, durable gear. Innovations like wearable technology and smart fabrics are becoming increasingly popular. As the focus shifts towards adventure tourism and personal health, this sector is poised for significant growth.


This list of top investors in the hiking gear industry features a mix of private equity, venture capital, and corporate investors. Based in locations like New York and California, these firms vary in size, with many managing substantial portfolios. Founded between 1961 and 2023, their investment strategies have resulted in numerous deals in 2024, greatly impacting the hiking gear landscape. Some notable investors have made significant contributions, indicating a strong interest in supporting this active lifestyle market.


Top 16 Hiking Gear Investors in the US


1. 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 strategy includes flexible capital solutions to help businesses grow and thrive. Notably, Advantage Capital has been involved in transactions such as Gura Gear, which raised funds in 2014 and 2015, indicating their engagement in the outdoor gear market. Additionally, they have financed companies like Drake Waterfowl Systems and Excel Boats, which, while not directly related to hiking gear, demonstrate their broader interest in outdoor and recreational industries. This diverse portfolio suggests that Advantage Capital is open to exploring investments in the hiking gear sector.


2. 500 Global

  • Website: 500.co
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 98
  • LinkedIn: 500-startups

500 Global is a venture capital firm and startup accelerator founded in 2010, based in San Francisco, California. The firm specializes in investing in early-stage technology companies, providing funding, mentorship, and resources to help founders scale their businesses. Among their notable transactions, 500 Global invested in AllTrails, which raised $400K in seed funding to enhance its digital network focused on outdoor activities, including hiking. This investment highlights their engagement in the outdoor sector. Additionally, they have participated in funding rounds for companies like Bespoke Post, which, while not exclusively focused on hiking gear, operates in the lifestyle and subscription space that could include outdoor products. Overall, 500 Global's investment strategy reflects a commitment to innovative startups, including those relevant to the hiking and outdoor gear market.


3. 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, the firm manages a diverse portfolio of over 140 companies globally. Notably, Riverside has made significant investments in the outdoor and cycling sectors, including the acquisition of Bike24, a German online retailer focused on cycling and outdoor gear. This investment highlights Riverside's commitment to the outdoor space, which encompasses hiking gear as part of its broader focus on outdoor recreational activities. Additionally, Riverside's acquisition of Reima, a company specializing in children's outdoor clothing, further demonstrates its engagement in the outdoor apparel market.


4. 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

The Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios. With a network of over 10,000 investors, the firm focuses on connecting them with high-quality investment opportunities in the startup ecosystem. Among its notable transactions, the fund invested in Klymit, a company specializing in outdoor gear, which is directly relevant to the hiking gear industry. Additionally, they have invested in Lightship, which has raised significant funding in recent years, and Getaway, a company that promotes outdoor experiences, further emphasizing their engagement with the outdoor and hiking gear market.


5. 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 offerings. Vista Outdoor operates through a portfolio of renowned brands, focusing on performance-driven goods. Notable transactions include the acquisition of Stone Glacier, an ultralight backcountry and hunting gear brand, which enhances their position in the hiking gear market. Additionally, the acquisition of CamelBak Products, a leader in personal hydration solutions, further solidifies their commitment to outdoor sports and recreation. Other acquisitions, such as Simms Fishing Products and QuietKat, demonstrate their strategy to diversify within the outdoor industry, but their focus on hiking-related brands makes them particularly relevant for hiking gear investors.


6. 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 private equity and investment management, focusing on building industry leaders by providing capital and strategic guidance to businesses across various sectors. NEP emphasizes long-term partnerships and sustainable growth, catering primarily to companies seeking to enhance their operations and market position. Among their notable transactions, NEP invested in Christy Sports, a retailer known for outdoor gear, and Bowtech, which produces archery equipment. They also acquired United Sports Brands, the parent company of Shock Doctor, which offers a range of sports products, further showcasing their involvement in the sports and outdoor sectors. Other investments include Wahoo Fitness, a company that provides fitness technology, indicating NEP's broader interest in the active lifestyle market.


7. BRS & Co.


BRS & Co. is a private equity firm based in New York, specializing in managing assets for lower middle market consumer companies. Founded in 1995, BRS provides strategic advice and operational support to management teams, focusing on driving sustainable growth through investments and acquisitions. They have a diverse clientele primarily in the consumer products and services sector. Notably, BRS has made significant investments in the outdoor and sports sectors, including the acquisition of Royal Robbins, Inc., known for its outdoor apparel, and Gamo Outdoor, a company involved in outdoor sports. Additionally, they acquired New Archery Products, which produces archery gear, and Daisy Outdoor Products, a manufacturer of youth airguns, further demonstrating their commitment to the outdoor and recreational markets.


8. Polaris Inc.

  • Website: polaris.com
  • Type: Corporate
  • Headquarters: Medina, Minnesota, United States (USA)
  • Founded year: 1954
  • Headcount: 10001+
  • LinkedIn: polarisinc

Polaris Inc. is a corporate investor based in Medina, Minnesota, founded in 1954. The company is primarily known as an automotive manufacturer specializing in motorcycles, all-terrain vehicles, and snowmobiles, serving consumers and outdoor enthusiasts with high-quality recreational vehicles designed for various terrains. In 2012, Polaris acquired KLIM Technical Riding Gear, a company that produces specialized gear for outdoor activities, which enhances their offerings in parts, garments, and accessories relevant to outdoor enthusiasts. Additionally, Polaris has made acquisitions such as Timbersled Products, Inc., which focuses on snow bikes, further diversifying their product range. In 2025, Polaris supported outdoor initiatives through grants to organizations like Sitka Trail Works, Sierra Buttes Trail Stewardship, and Sawtooth Society, demonstrating their commitment to outdoor recreation and trail maintenance.


9. 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 investment solutions to institutional and individual clients. Among its notable transactions, KKR acquired Academy Sports Outdoors, a major retailer in the sporting goods sector, in 2011, and Mills Fleet Farm, a regional outdoor retailer, in 2016 for over $1.2 billion. These acquisitions highlight KKR's commitment to the outdoor and sporting goods market, which includes hiking gear. Additionally, KKR's investment in Edge Observatory, an outdoor observatory, further emphasizes its interest in outdoor experiences. Through these strategic investments, KKR aims to support growth and innovation in the outdoor retail space, aligning with the interests of hiking gear enthusiasts.


10. Plug and Play Tech Center


Plug and Play Tech Center is an innovation hub and venture capital firm based in Sunnyvale, California, founded in 2006. They connect startups with corporations to foster growth and innovation, offering various programs including accelerator initiatives and investment opportunities primarily in the technology sector. In 2024, they have already made 253 investments, showcasing their active role in the venture capital landscape. Notably, they have invested in companies like 10Adventures, which focuses on outdoor adventures, and Adventure Bucket List, which caters to adventure seekers. These transactions highlight their engagement with the hiking and outdoor activity market, demonstrating their interest in supporting businesses that enhance outdoor experiences.


11. Northstar Capital

  • Website: northstarcapital.com
  • Type: Private Equity
  • Headquarters: Minneapolis, Minnesota, United States (USA)
  • Founded year: 1993
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: northstar-capital

Northstar Capital is a private equity investment management firm based in Minneapolis, Minnesota, founded in 1993. The firm specializes in junior capital investments and equity co-investments for lower middle market companies, providing tailored financing solutions to financial sponsors, business owners, and management teams across various industries. With nearly $2 billion raised since inception, Northstar Capital has a strong track record in the investment space. Among their notable transactions, they have invested in companies relevant to the hiking gear industry, such as Rite in the Rain, which specializes in weatherproof paper products ideal for outdoor use, and Classic Accessories, known for their outdoor gear and accessories. These investments highlight Northstar's engagement with the outdoor and recreational market, aligning with the interests of hiking gear enthusiasts.


12. Goode Partners

  • Website: goodepartners.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2005
  • Headcount: 1-10
  • Number of deals in 2024: 1

Goode Partners LLC is a private equity firm based in New York, founded in 2005, that specializes in investing in high-growth potential consumer-oriented companies. The firm provides both financial and operational resources to help these businesses scale effectively. Their clientele primarily consists of management teams looking to enhance their growth strategies through strategic partnerships. Notably, Goode Partners has made significant investments in the outdoor and recreational sector, including a $37.5 million investment in Marolina Outdoor, the owner of Huk Gear, which specializes in fishing gear. They have also invested in Nomad Outdoor and acquired ReadyWise, a leader in emergency food preparedness aimed at outdoor recreation. These transactions highlight Goode Partners' commitment to supporting companies that cater to outdoor enthusiasts, including hikers.


13. 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. With a strong emphasis on consumer insights, L Catterton aims to drive growth and innovation within its portfolio companies. Notably, they have invested in Taxa Outdoors, a manufacturer of lightweight mobile habitats for outdoor adventures, which aligns with the hiking gear industry. Additionally, their investment in Storyteller Overland suggests a focus on outdoor travel and adventure, further emphasizing their commitment to the outdoor lifestyle market. Their diverse portfolio also includes investments in companies like Getaway, which operates tiny house rentals, appealing to outdoor enthusiasts seeking unique experiences.


14. Deckers Brands

  • Website: deckers.com
  • Type: Corporate
  • Headquarters: United States (USA)
  • Founded year: 1973
  • Headcount: 1001-5000
  • LinkedIn: deckers-brands

Deckers Brands, formally known as Deckers Outdoor Corporation, is a corporate investor based in the United States, founded in 1973. The company designs and distributes a variety of footwear, apparel, and accessories through its well-known brands, including UGG, Teva, Hoka One One, and Koolaburra. Notably, Deckers has made several strategic acquisitions that enhance its portfolio in the outdoor and active lifestyle segments. In 2002, Deckers acquired Teva, a brand recognized for its sport sandals that are popular among hikers. This acquisition significantly contributed to Deckers' sales and positioned the company within the hiking gear market. Additionally, Deckers fully acquired Hoka One One in 2013, a brand that specializes in running shoes, many of which are designed for trail running and hiking. These acquisitions demonstrate Deckers' commitment to the outdoor footwear market, making it a relevant player in the hiking gear industry.


15. Garmin


Garmin Ltd. is a technology company founded in 1989, based 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 both consumers and businesses across various industries, providing solutions that enhance navigation, fitness tracking, and outdoor activities. Notably, Garmin has made strategic acquisitions that align with outdoor and fitness markets, such as the acquisition of DeLorme, a company known for its consumer-based satellite tracking devices, which are particularly useful for hikers and outdoor enthusiasts. This acquisition allows Garmin to integrate advanced tracking technology into their product offerings, enhancing the outdoor experience for users. Additionally, Garmin's acquisition of iKubu, which focuses on cycling technology, indicates their broader interest in outdoor sports and activities. Overall, Garmin's product portfolio and strategic acquisitions position them as a significant player in the outdoor and hiking gear market.


16. 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 with a focus on books, Amazon has expanded to include everything from electronics to clothing, and notably, outdoor and hiking gear. In 2020, Amazon was involved in grant transactions with companies like WAW Handplanes and Ethicool Books, showcasing its support for diverse ventures. Additionally, its acquisition of Woot, an online retailer that sells various products including outdoor gear, further emphasizes its engagement in the outdoor market. With 37 investments in 2024 alone, Amazon's diverse portfolio reflects its commitment to catering to various customer needs, including those of outdoor enthusiasts.



Hiking Gear Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
500 GlobalSan Francisco, California, United States (USA)201-500201098
The Riverside CompanyNew York, New York, United States (USA)201-500198812
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
Vista Outdoor Inc.Anoka, Minnesota, United States (USA)1-1019160
Norwest Equity Partners (NEP)Minneapolis, Minnesota, United States (USA)11-5019611
BRS & Co.New York, New York, United States (USA)11-5019950
Polaris Inc.Medina, Minnesota, United States (USA)10001+19540
KkrNew York, New York, United States (USA)1001-5000197674
Plug and Play Tech CenterSunnyvale, California, United States (USA)501-10002006253
Northstar CapitalMinneapolis, Minnesota, United States (USA)11-5019931
Goode PartnersNew York, New York, United States (USA)1-1020051
L CattertonUnited States (USA)201-500198923
Deckers BrandsUnited States (USA)1001-500019730
GarminOlathe, Kansas, United States (USA)10001+19890
AmazonSeattle, Washington, United States (USA)10001+37


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