The sports apparel industry in Latin America is on the rise, characterized by a mix of established brands and innovative startups. Companies range from global giants like PUMA to homegrown labels focusing on sustainability and performance. These entities offer a variety of products, including athletic wear, casual clothing, and specialized gear for different sports. Excitingly, the sector is increasingly embracing e-commerce, catering to a tech-savvy consumer base that demands convenience and sustainability. As health and fitness trends grow, so does the potential for growth in this industry, making it an appealing market for future investments.


The investors listed here include a variety of venture capital firms and corporate investors, primarily located in major cities like Sao Paulo and Mexico City. Established between 1994 and 2020, these firms represent a mix of sizes, with some managing large funds and others operating with smaller teams. Notably, they have executed a total of 86 deals in the sports apparel sector in 2024, notably capitalizing on emerging trends and consumer preferences in athletic wear.


Top 16 Sports Apparel 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, while also providing capital, strategic guidance, and access to a network of co-investors. Bossa Invest has been involved in several notable transactions, including investments in Hype and Vice, a company that operates in the sports apparel space, and Knix Wear, which focuses on women's activewear. Their participation in these funding rounds demonstrates their engagement with the sports apparel industry, alongside their broader investment strategy aimed at empowering entrepreneurs and fostering growth in the startup ecosystem.


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. Among their notable transactions, they invested in Grupo Netshoes, which raised $170 million in 2014, a key player in the sports apparel and footwear market. They also participated in the Series A funding of Rei do Pitaco, a fantasy sports platform, showcasing their engagement with the sports sector. These investments highlight Kaszek's interest in the sports apparel industry, alongside their broader technology focus.


3. 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 and create a more active and enjoyable world. Notable transactions include investments in G2 Esports, a prominent esports organization, and Sorare, a fantasy sports platform that combines sports and digital collectibles. Additionally, they have participated in funding rounds for Strava, a fitness tracking app that promotes an active lifestyle, and WSC Sports, which enhances sports content through technology. These investments reflect Go4it Capital's commitment to the sports industry, indicating their potential interest in sports apparel as part of their broader investment strategy.


4. Venturance Alternative Assets


Venturance Alternative Assets is an investment management company based in Vitacura, Santiago, Chile, specializing in alternative assets including Growth Equity, Venture Capital, Real Estate, and Private Debt. Founded in 2010, the firm provides financial advisory services to businesses, families, and individuals, helping them navigate investment opportunities and manage their portfolios effectively. Notably, Venturance has been involved in several transactions relevant to the sports apparel sector, including investments in Haka Honu and Lippi Outdoor, both of which focus on outdoor and sports-related products. Their investment in Trail, which raised funds in a Seed Round, further emphasizes their engagement in the sports apparel and outdoor market, showcasing their capability to identify and support emerging brands in this space.


5. Grupo Axo

  • Website: grupoaxo.com
  • Type: Corporate
  • Headquarters: Mexico
  • Founded year: 1994
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: grupo-axo

Grupo Axo is a corporate investor based in Mexico, founded in 1994. The company operates a multi-brand ecosystem in apparel, beauty, and personal care, distributing over 60 international brands across physical and digital stores in Mexico, Chile, Peru, and Uruguay. In recent years, Grupo Axo has been involved in several notable transactions relevant to the sports apparel context. For instance, they led a $7.5 million investment in Vopero, a resale marketplace that supports the growth of various apparel sectors, potentially including sports apparel. Additionally, they have acquired companies like Komax and Grupo Promoda, further expanding their footprint in the apparel market. These activities highlight Grupo Axo's commitment to the apparel industry, making them a significant player in the sports apparel investment landscape.


6. 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, enabling 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, which is directly related to the sports apparel sector. Additionally, they have invested in Golazzos, another company that may have relevance to sports, although specific details about its focus are less clear. These transactions highlight their engagement in the sports apparel context, making them a noteworthy player in this investment category.


7. 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, indicating their engagement in the sports sector. This involvement suggests that while their primary focus may be on fintech and insurtech, they are open to investing in sports-related ventures, including sports apparel.


8. Nexxus Capital


Nexxus Capital is a private equity investment firm based in Mexico City, Mexico, founded in 1995. The firm specializes in providing private equity and mezzanine debt to mid-sized companies in Mexico and Spain. With a team size of 11-50, Nexxus Capital manages multiple funds aimed at helping businesses grow and expand their market presence. Among their notable transactions, they invested in Grupo Sports World, a company that operates in the sports apparel and fitness industry, raising an undisclosed amount in a private equity round in 2005. This involvement highlights their capability and interest in the sports apparel sector. Additionally, they have engaged in transactions with other companies like Immunotec and Grupo Turistore, although these are not directly related to sports apparel. Overall, Nexxus Capital's experience with Grupo Sports World positions them as a relevant player in the sports apparel investment landscape.


9. 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 across Latin America, focusing on providing capital, networking opportunities, and advisory services to startup founders. Their portfolio includes a variety of innovative startups in different sectors. Notably, Marathon Ventures participated in a seed round for Fanki, a platform designed to enhance the connection between sports clubs and fans, securing $6 million in funding in June 2023. This investment highlights their engagement in the sports sector. Additionally, they invested $5 million in Wonder Brands in March 2021, which, while not exclusively in sports apparel, indicates their interest in consumer brands that could potentially overlap with the sports apparel market.


10. 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 its latest collections and promotions. Notably, PUMA has been involved in significant transactions, such as the acquisition of Cobra Golf from Acushnet Co. This strategic move aims to strengthen PUMA's presence in the golf club market, showcasing their commitment to expanding their influence in the sports apparel sector. The acquisition is expected to be completed by summer 2024, pending regulatory approval, further solidifying PUMA's role in the sports industry.


11. Lanx Capital Investimentos


Lanx Capital Investimentos is a corporate investment firm based in Sao Paulo, Brazil, founded in 2003. The firm specializes in private equity, venture capital, and real estate, providing investment management services to businesses and high-net-worth individuals. Lanx Capital aims to achieve exceptional returns through disciplined investment strategies. Notably, they participated in a venture round for CARIUMA, a brand known for its sustainable and stylish sneakers, which positions them within the sports apparel context. This investment highlights their engagement in the sports apparel industry, despite their broader investment focus.


12. The Next Company


The Next Company is a corporate investment firm based in Sao Paulo, Brazil, founded in 2018. They specialize in backing early-stage entrepreneurs and startups, providing not only financial support but also guidance to help these businesses navigate challenges. Their investment strategy emphasizes innovation and purpose-driven initiatives across various industries. One notable transaction they were involved in is the seed round investment in CARIUMA, which raised $13 million on August 5, 2019. CARIUMA is a sustainable footwear brand that aligns with the growing trend of eco-conscious sports apparel, showcasing The Next Company's commitment to supporting innovative brands in the sports apparel sector.


13. Redwood Ventures

  • Website: redwood.ventures
  • Type: Venture Capital
  • Headquarters: Guadalajara, Jalisco, Mexico
  • Founded year: 2017
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: redwoodventuresmx

Redwood Ventures is a venture capital firm based in Guadalajara, Jalisco, Mexico, founded in 2017. The firm specializes in investing in technology-driven startups across various sectors, including fintech, e-commerce, and healthtech. They provide financial backing and strategic support to entrepreneurs, helping them navigate the challenges of scaling their businesses. Notably, Redwood Ventures invested in Troquer, a leading startup for second-hand fashionwear in Latin America, which raised US$600 thousand to enhance its commercial strategy and technological development. This investment highlights their engagement in the fashion industry, which can include sports apparel. Additionally, they have made other investments, such as in Boletomóvil, further showcasing their active role in supporting diverse startups.


14. Tribeca Asset Management


Tribeca Asset Management is a private equity firm based in Bogota, Colombia, founded in 2006. The firm specializes in investing in high growth potential companies across Colombia and Latin America, providing capital and expertise in areas such as mergers and acquisitions and business turnaround services. One of their notable transactions includes the acquisition of OndadeMar in 2006, a brand known for its swimwear and beachwear products. This acquisition highlights Tribeca's involvement in the apparel sector, particularly in areas that cater to active and sports-oriented consumers, showcasing their capability and interest in the sports apparel market.


15. Cadonau Investimentos

  • Website: cadonau.com.br
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2018
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: cadonau-investimentos

Cadonau Investimentos is a venture capital firm based in Sao Paulo, Brazil, founded in 2018. The firm specializes in originating, evaluating, negotiating, and monitoring investments in both liquid and illiquid assets. They provide capital, mentorship, and strategic connections to entrepreneurs and companies, primarily in high-growth sectors. One notable transaction is their involvement in Repassa, a Brazilian startup that closed a Series A funding round of R$10 million (~US$2 million) in March 2020. Repassa operates as a thrift store with a socially-responsible and eco-friendly approach to fashion, allowing vendors to receive a percentage of sales or donate proceeds to charity. This investment highlights Cadonau's engagement in the fashion industry, which could extend to sports apparel in the future.


16. Kptl

  • Website: kptl.com.br
  • Type: Venture Capital
  • Headquarters: Sao Paulo, Sao Paulo, Brazil
  • Founded year: 2020
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: inseed-investimentos

KPTL is a venture capital firm based in Sao Paulo, Brazil, founded in 2020. With over 15 years of experience in the investment sector, KPTL has made more than 124 investments, providing capital and strategic guidance to innovative startups in Brazil. One of their notable transactions includes an investment in Dress & Go, which received R$ 3.75 million to scale its circular fashion business. This investment reflects KPTL's commitment to supporting companies that aim to innovate within the fashion industry, which can encompass sports apparel. The funding will help Dress & Go expand its inventory significantly, indicating a focus on growth in the apparel sector.



Sports Apparel Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
bossa investSao Paulo, Sao Paulo, Brazil11-50201156
KaszekSao Paulo, Sao Paulo, Brazil11-50201117
Go4it CapitalSao Paulo, Sao Paulo, Brazil1-1020150
Venturance Alternative AssetsVitacura, Santiago, Chile11-5020100
Grupo AxoMexico5001-1000019941
Ideas & CapitalMexico City, Mexico City, Mexico1-1020130
Magma PartnersProvidencia, Santiago, Chile11-5020146
Nexxus CapitalMexico City, Mexico City, Mexico11-5019950
Marathon VenturesBogota, Bogota, Colombia1-1020209
PUMA México Sport S.A. de C.V.Mexico City, Mexico City, Mexico1-1019480
Lanx Capital InvestimentosSao Paulo, Sao Paulo, Brazil11-5020032
The Next CompanySao Paulo, Sao Paulo, Brazil1-1020180
Redwood VenturesGuadalajara, Jalisco, Mexico11-5020175
Tribeca Asset ManagementBogota, Bogota, Colombia11-5020060
Cadonau InvestimentosSao Paulo, Sao Paulo, Brazil1-1020181
KptlSao Paulo, Sao Paulo, Brazil11-5020205


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