The outdoor apparel industry in the US focuses on clothing and gear designed for adventure and recreation in natural settings. Companies range from established giants to innovative startups, offering products like performance jackets, hiking boots, and breathable athletic wear. Recent trends show a growing demand for sustainable materials and ethical manufacturing, reflecting consumers' preference for brands that prioritize environmental stewardship. With the rise of outdoor activities and increased focus on health and wellness, the industry's growth appears robust, paving the way for further innovation in materials and technology that enhance the outdoor experience.


This list comprises notable investors in the outdoor apparel sector, spanning private equity and venture capital firms. Headquartered across major US cities, their sizes vary significantly, from small teams to larger organizations. Founded between 1976 and 2023, these investors have shown dynamic involvement with a total of 258 deals in 2024. This variety reflects an increasing trend for both established firms and newer entrants to recognize the potential and growth in the outdoor apparel market.


Top 17 Outdoor Apparel Investors in the US


1. 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, L Catterton has made significant investments in the outdoor apparel sector, including Rhone Apparel, a men's activewear and lifestyle brand, and Taxa Outdoors, a manufacturer of lightweight mobile habitats for outdoor adventures. These investments reflect L Catterton's strategic focus on enhancing the growth and market presence of brands within the outdoor and activewear industries.


2. 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, founded in 2015, that specializes in investing in marketplace and network effect businesses. They provide capital and strategic guidance to entrepreneurs across various industries, including e-commerce and logistics. With over 1,000 companies in their extensive portfolio, many of which have achieved unicorn status, FJ Labs has demonstrated a strong track record in supporting innovative startups. Notably, they have invested in Tracksmith, a brand focused on running apparel, and Thursday Boot Company, which specializes in high-quality boots suitable for outdoor activities. These transactions highlight FJ Labs' engagement in the outdoor apparel sector, showcasing their versatility as an investor.


3. 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, with a particular focus on supporting entrepreneurs in underserved communities. Their investment strategy includes flexible capital solutions aimed at helping businesses grow and thrive. Notably, Advantage Capital has been involved in several transactions relevant to the outdoor apparel context, such as their debt financing of Drake Waterfowl Systems, which raised $4 million in 2020 and specializes in outdoor gear for waterfowl hunting. Other relevant transactions include investments in companies like TreadWright, which focuses on outdoor tire products, and Excel Boats, which manufactures boats for outdoor recreational activities. These transactions highlight Advantage Capital's engagement in the outdoor sector, making them a potential player 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

Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. The firm provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. Among its notable transactions, the fund invested in Rhone Apparel, which raised approximately $1.43 million in a Series C round in March 2019, highlighting its engagement in the outdoor apparel sector. Additionally, the fund's investment in Klymit, a company known for its outdoor gear, further emphasizes its relevance in this industry. These transactions illustrate the fund's commitment to supporting brands that cater to outdoor enthusiasts and active lifestyles.


5. Accel

  • Website: accel.com
  • Type: Venture Capital
  • Headquarters: Palo Alto, California, United States (USA)
  • Founded year: 1983
  • Headcount: 51-200
  • Number of deals in 2024: 101
  • LinkedIn: accel-vc

Accel is a venture capital firm founded in 1983, based in Palo Alto, California, specializing in investing in startups and early-stage companies. The firm primarily focuses on the technology sector but has also made significant investments in other industries, including apparel. Notably, Accel has been involved in multiple funding rounds for Wrogn, a brand that operates in the apparel space, raising substantial amounts over the years: $7.2 million in Series B (2015), $15.2 million in a Venture Round (2017), $13.5 million in Series E (2018), and an undisclosed amount in Series F (2020). These transactions highlight Accel's engagement in the apparel market, particularly with a brand that could be associated with outdoor apparel, thus showcasing its versatility as an investor.


6. Iconix International Inc

  • Website: iconixbrand.com
  • Type: Corporate
  • Headquarters: Palm Beach, Florida, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 1
  • LinkedIn: iconix-brand-group

Iconix International Inc, founded in 2005 and based in Palm Beach, Florida, is a corporate brand management company that specializes in licensing and marketing a diverse portfolio of consumer brands across fashion, sports, and home products. The company partners with retailers and manufacturers to enhance brand performance and market presence, focusing on apparel and accessories. Notably, in 2024, Iconix acquired Salt Life, a marine apparel brand, for $38.74 million, which generated $59 million in revenue for the fiscal year ending September 30, 2023. This acquisition highlights their strategic move into the outdoor apparel market. Additionally, Iconix has a history of acquiring brands such as Mossimo Inc., Zoo York, Ecko Unltd, and Hoodrich, which, while not exclusively outdoor brands, contribute to their overall portfolio in the apparel industry.


7. Lerer Hippeau

  • Website: lererhippeau.com
  • Type: Venture Capital
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 23
  • LinkedIn: lerer-hippeau-ventures

Lerer Hippeau is a venture capital firm based in New York, founded in 2010, that focuses on investing in early-stage startups. They provide essential funding and support to help these businesses grow, connecting talented professionals with opportunities in their portfolio companies. Notably, Lerer Hippeau has invested in outdoor apparel companies such as Cotopaxi, a Benefit Corporation that specializes in outdoor gear and apparel, participating in both a $3 million seed round in 2014 and a $6.5 million Series A funding round in 2015. They have also invested in Allbirds, a company recognized for its sustainable footwear and apparel, contributing to their seed and Series A funding rounds totaling over $20 million. These transactions highlight Lerer Hippeau's active role in the outdoor apparel industry, showcasing their commitment to supporting innovative companies in this space.


8. 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 prominent investment firm based in New York, specializing in both public and private equity investments. Founded in 2001, the firm manages approximately $50 billion and focuses on innovative companies leveraging technology. Among their notable transactions, Tiger Global has invested in Allbirds, raising $50 million in a Series C round in 2018 and $17.5 million in a Series B round in 2017. Allbirds is recognized for its sustainable outdoor footwear and apparel, which positions Tiger Global as an investor in the outdoor apparel industry. Additionally, they have invested in various other companies across different sectors, but their involvement with Allbirds highlights their interest in the outdoor apparel market.


9. Forerunner


Forerunner Ventures is a venture capital firm based in San Francisco, California, founded in 2012. The firm specializes in early-stage investments in consumer technology and innovative businesses, providing capital and strategic guidance to startups. Notably, Forerunner has invested in outdoor apparel companies such as Cotopaxi, which raised $6.5 million in a Series A funding round in 2015, and Outdoor Voices, which secured $34 million in Series C funding in 2018. These investments highlight Forerunner's engagement in the outdoor apparel sector, supporting companies that focus on outdoor gear and apparel, and contributing to their growth and expansion in the market.


10. Advent


Advent International Corporation is a private equity firm based in Boston, Massachusetts, founded in 1984. The firm specializes in buyouts and investments across various sectors, focusing on long-term value creation for its portfolio companies. Advent has been actively involved in the outdoor apparel industry, notably acquiring an equity stake in Lululemon athletica in 2005 and participating in a post-IPO equity round in 2014. Additionally, Advent acquired Fat Face, a lifestyle brand that offers outdoor apparel, in 2005. These transactions highlight Advent's commitment to investing in companies that operate within the outdoor and activewear space, showcasing its capability to provide capital and strategic guidance to help these brands grow and navigate market challenges.


11. 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 in 2011, a significant player in the outdoor retail market, and Mills Fleet Farm in 2016, a regional retailer with a strong focus on outdoor products. These acquisitions reflect KKR's commitment to the outdoor apparel industry, as they aim to expand these businesses while maintaining their core values. KKR's diverse portfolio and strategic investments in outdoor-related companies position it as a relevant investor in the outdoor apparel sector.


12. Goodwater Capital

  • Website: goodwatercap.com
  • Type: Venture Capital
  • Headquarters: Burlingame, California, United States (USA)
  • Founded year: 2014
  • Headcount: 51-200
  • Number of deals in 2024: 41
  • LinkedIn: goodwater-capital

Goodwater Capital is a venture capital firm based in Burlingame, California, founded in 2014. The firm specializes in consumer technology and supports seed-stage entrepreneurs by providing investment, resources, and a community to help them grow. Goodwater Capital has a diverse investment portfolio that spans various sectors, including healthcare and financial services, but it has also made significant investments in the outdoor apparel industry. Notably, Goodwater led multiple funding rounds for Frank & Oak, a New York-based menswear brand, raising a total of approximately $19 million across Series B and C rounds. Additionally, they invested in Boardcave, which, while not exclusively an outdoor apparel brand, operates within the broader outdoor and sports market. This involvement highlights Goodwater's interest in the outdoor apparel sector, alongside its primary focus on consumer technology.


13. Platinum Equity

  • Website: platinumequity.com
  • Type: Private Equity
  • Headquarters: Beverly Hills, California, United States (USA)
  • Founded year: 1995
  • Headcount: 201-500
  • Number of deals in 2024: 20
  • LinkedIn: platinum-equity

Platinum Equity is a private equity firm based in Beverly Hills, California, specializing in mergers, acquisitions, and operations management. Founded in 1995, the firm focuses on investing in established companies across various industries, providing them with capital and operational expertise to enhance their growth and profitability. With a portfolio of approximately 50 companies and managing over $48 billion in assets, Platinum Equity operates globally. Recently, they have made significant strides in the outdoor apparel market, acquiring GSM Outdoors, the parent company of several fishing brands, to support its growth in the outdoor recreation sector. Additionally, they acquired Founder Sport Group and Augusta Sportswear, both of which are involved in the apparel industry, further solidifying their presence in the outdoor apparel space. Their investment in Mad Engine, a San Diego-based apparel company, also highlights their focus on the apparel market, making them a notable player in the outdoor apparel investment landscape.


14. The Riverside Company


The Riverside Company is a private equity investment firm founded in 1988, based in New York, New York. It specializes in providing flexible capital solutions and strategic guidance to smaller middle-market businesses across various industries. Riverside manages a diverse portfolio of over 140 companies globally, with a focus on transformative growth. Notably, Riverside has made significant investments in the outdoor apparel sector, including the acquisition of Reima, a company known for its outdoor clothing for children, in May 2011. They also invested in Bike24, a German online retailer that focuses on cycling and outdoor activities, highlighting their commitment to the outdoor apparel market. Additionally, Riverside's investment in Uinta Brewing, while primarily a beverage company, showcases their broader interest in lifestyle brands that may intersect with outdoor activities.


15. New Enterprise Associates (NEA)

  • Website: nea.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 1977
  • Headcount: 51-200
  • Number of deals in 2024: 57
  • LinkedIn: new-enterprise-associates

New Enterprise Associates (NEA) is a venture capital firm founded in 1977, based in Menlo Park, California. NEA specializes in investment management and advisory services for startups, particularly in the technology and healthcare sectors. The firm partners with entrepreneurs to provide funding and strategic guidance, helping them navigate the challenges of building successful businesses. NEA operates through a collaborative approach, emphasizing long-term relationships with founders. Notably, NEA has participated in funding rounds for Cotopaxi, a Benefit Corporation outdoor gear and apparel company, contributing to both a $3 million seed round in 2014 and a $6.5 million Series A round in 2015. This involvement highlights NEA's interest in the outdoor apparel industry, showcasing their willingness to invest in companies that align with their values of sustainability and social impact, as exemplified by Cotopaxi's mission.


16. Blackstone

  • Website: blackstone.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1985
  • Headcount: 1001-5000
  • Number of deals in 2024: 57
  • LinkedIn: blackstonegroup

Blackstone Inc. is a leading investment management firm based in New York, specializing in alternative investments. Founded in 1985, Blackstone has built a diverse portfolio that includes private equity, real estate, and credit solutions for both institutional and individual investors. Among its notable transactions in the outdoor apparel sector, Blackstone acquired the German outdoor retailer Jack Wolfskin for approximately 700 million euros (around $1 billion) in 2011, showcasing its commitment to the outdoor apparel market. Additionally, Blackstone's investment in Billabong International, a brand recognized for its outdoor and action sports apparel, further highlights its engagement in this industry. Through these strategic investments, Blackstone aims to build strong businesses and deliver lasting value, reinforcing its position as a significant player in the outdoor apparel space.


17. 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, focusing on high-quality and innovative solutions for outdoor enthusiasts. In recent years, Vista Outdoor has significantly expanded its portfolio through strategic acquisitions, including:1. **Simms Fishing Products** - Acquired for $192.5 million in July 2022, this acquisition allows Vista to diversify into the fishing industry, enhancing their offerings for outdoor enthusiasts.2. **Fox Racing** - Acquired for $540 million in July 2022, Fox Racing is a well-known brand in the motocross and mountain biking apparel sector, further solidifying Vista's presence in outdoor apparel.3. **CamelBak Products LLC** - Acquired for $412.5 million in July 2015, CamelBak is a leading provider of hydration solutions, which are essential for outdoor activities.4. **Stone Glacier** - Acquired in December 2021, this brand specializes in ultralight backcountry and hunting gear, contributing to Vista's outdoor apparel and gear offerings.5. **QuietKat** - Acquired in May 2021, QuietKat focuses on electric bikes designed for outdoor adventures, complementing Vista's outdoor lifestyle portfolio.Through these acquisitions, Vista Outdoor has established itself as a significant player in the outdoor apparel and gear market, catering to a wide range of outdoor activities and enthusiasts.



Outdoor Apparel Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
L CattertonUnited States (USA)201-500198923
FJ LabsNew York, New York, United States (USA)11-502015169
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
AccelPalo Alto, California, United States (USA)51-2001983101
Iconix International IncPalm Beach, Florida, United States (USA)51-20020051
Lerer HippeauNew York, New York, United States (USA)11-50201023
Tiger GlobalNew York, New York, United States (USA)51-200200125
ForerunnerSan Francisco, California, United States (USA)11-50201212
AdventBoston, Massachusetts, United States (USA)501-1000198417
KkrNew York, New York, United States (USA)1001-5000197674
Goodwater CapitalBurlingame, California, United States (USA)51-200201441
Platinum EquityBeverly Hills, California, United States (USA)201-500199520
The Riverside CompanyNew York, New York, United States (USA)201-500198812
New Enterprise Associates (NEA)Menlo Park, California, United States (USA)51-200197757
BlackstoneNew York, New York, United States (USA)1001-5000198557
Vista Outdoor Inc.Anoka, Minnesota, United States (USA)1-1019160


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