The activewear brands industry in DACH comprises companies specializing in athletic apparel and footwear designed for sports and fitness activities. These brands focus on functionality, comfort, and style to meet the growing demand for health-conscious lifestyles. The market features established players like Adidas and emerging startups emphasizing sustainability and innovation in materials and production methods. Recent trends indicate a shift towards eco-friendly practices and technology integration in products, leading to dynamic partnerships and new product lines. As fitness becomes ever more prominent, the industry is poised for robust growth, driven by changing consumer preferences and market expansion.


The investment scene for activewear in DACH features various player types, from corporate giants to agile venture capital firms. Significant investors include Deutsche Bank from Frankfurt and Adidas, headquartered in Herzogenaurach. Some firms, like Acton Capital and Capnamic, focus on early-stage startups. With a mix of experience—a number of these investors were founded in the late 1990s to early 2000s—their cumulative deal count in 2024 showcases a strong interest in this sector. Investors range in size, creating opportunities for both established brands and promising newcomers to secure vital support in the evolving market.


Top 18 Activewear Brands Investors in DACH


1. Capvis AG

  • Website: capvis.com
  • Type: Private Equity
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1990
  • Headcount: 11-50
  • LinkedIn: capvis

Capvis AG is a private equity firm based in Baar, Zug, Switzerland, founded in 1990. The firm specializes in managing investments across various sectors, including healthcare and industrial technology, while also having a notable presence in the activewear industry. Capvis has made significant investments in the swimwear sector, particularly through their acquisitions of Arena and Arena Italia in late 2013 and early 2014. These transactions highlight their commitment to the activewear market and their strategy of enhancing the market position of their portfolio companies through effective management and consulting. Capvis partners with institutional investors, such as pension funds, to provide long-term capital and strategic growth opportunities, making them a potentially valuable investor for activewear brands seeking to expand their market reach.


2. adidas

  • Website: adidas-group.com
  • Type: Corporate
  • Headquarters: Herzogenaurach, Bavaria, Germany
  • Founded year: 1949
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: adidas

adidas, founded in 1949 and headquartered in Herzogenaurach, Bavaria, Germany, is a leading sportswear manufacturer and retailer known for its wide range of athletic footwear and apparel. The company serves athletes, sports teams, and consumers, providing products designed to enhance performance and create engaging team environments. adidas operates through direct sales and community initiatives, focusing on innovation and sustainability. Notably, adidas has made significant acquisitions in the activewear space, including Reebok International for $3.8 billion in 2005, which expanded its reach in the athletic footwear and apparel market. Additionally, the acquisition of TaylorMade Golf in 2005 and Adams Golf in 2012 for approximately $70 million further solidified adidas's presence in the sports industry, particularly in golf. These strategic investments highlight adidas's active role in the activewear sector and its commitment to enhancing its brand portfolio.


3. Sictic

  • Website: sictic.ch
  • Type: Venture Capital
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2014
  • Headcount: 201-500
  • Number of deals in 2024: 77
  • LinkedIn: sictic

SICTIC is a not-for-profit organization based in Zurich, Switzerland, that connects smart money investors with innovative Swiss early-stage technology startups. Founded in 2014, SICTIC provides investment opportunities, networking events, and educational resources to facilitate the growth of startups and the investment community. Among their notable transactions, they have invested in BEAT Fitness, which raised funds in an Angel Round, indicating a focus on fitness and activewear solutions. Additionally, they have been involved in other ventures like Muuvr Labs and Alip Training, which may also align with the activewear and fitness industry, showcasing their interest in this sector.


4. Deutsche Bank

  • Website: db.com
  • Type: Corporate
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1870
  • Headcount: 10001+
  • Number of deals in 2024: 32
  • LinkedIn: deutsche-bank

Deutsche Bank AG, founded in 1870 and headquartered in Frankfurt, Hesse, Germany, is a leading investment bank and financial services provider. It offers a wide range of solutions including investment banking, corporate banking, cash management, trade finance, and securities services. The bank serves corporate and institutional clients, helping them manage their financial assets and liquidity effectively through its digital platform, Autobahn. Notably, Deutsche Bank has been involved in significant transactions within the activewear sector, such as providing debt financing to Adidas, a major player in the activewear market, in April 2020. Additionally, it participated in a $240 million debt raise for Berlin Brands Group in April 2021, which aims to acquire promising enterprises, potentially including those in the activewear space. These transactions highlight Deutsche Bank's active role in financing companies within the activewear industry.


5. Infront Sports & Media AG


Infront Sports & Media AG is a corporate investor based in Zug, Switzerland, founded in 2003. The company specializes in sports marketing, managing media and marketing rights for international sports events. They offer a range of services including sponsorship, media rights distribution, and sports broadcast production, aimed at enhancing audience engagement for sports federations, brands, and media companies. Infront has made significant strides in the activewear and fitness sector through its acquisitions, such as Gsport and Sport09, which bolster their marketing capabilities in Italy, and more notably, the majority ownership of Hyrox, a company dedicated to mass participation racing. Additionally, their acquisition of XLETIX GmbH, a prominent organizer of obstacle course events, further expands their portfolio in the personal and corporate fitness sector, showcasing their commitment to the activewear industry.


6. HV Capital

  • Website: hvcapital.com
  • Type: Venture Capital
  • Headquarters: Flensburg, Schleswig-Holstein, Germany
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: hvventures

HV Capital is a venture capital firm based in Flensburg, Schleswig-Holstein, Germany, founded in 2000. With over €2.8 billion under management, HV Capital specializes in investing in digital companies and supporting entrepreneurs from seed stage to exit. They have a diverse portfolio, but one of their notable investments is in Urban Sports Club, a Berlin-based company that has secured significant funding rounds, including €95 million in December 2023 and over €80 million in June 2021. These investments highlight HV Capital's engagement in the activewear and fitness industry, showcasing their ability to support companies that promote health and wellness through innovative business models.


7. Acton Capital


Acton Capital is a Munich-based venture capital firm founded in 1999, specializing in investing in startups at the Series A stage and beyond. They focus on providing financial backing and strategic guidance to mission-driven teams across various sectors, including technology and eco-friendly consumer goods. Notably, Acton Capital has participated in funding rounds for Knix Wear, a prominent activewear brand, demonstrating their interest in the activewear industry. In 2019, they invested in Knix Wear during a venture round, and they also participated in a Series B funding round in 2021, which raised C$53 million to support the brand's expansion across North America. This involvement highlights Acton Capital's commitment to supporting growth in the activewear sector, alongside their broader investment strategy.


8. TA Ventures

  • Website: taventures.vc
  • Type: Venture Capital
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: ta-ventures

TA Ventures is a venture capital firm based in Frankfurt, Hesse, Germany, founded in 2010. The firm specializes in early-stage technology startups across various sectors, including HealthTech and FinTech, providing capital and strategic support to help these startups thrive in competitive markets. Notably, TA Ventures has invested in companies like Armedangels, a brand known for its commitment to sustainable fashion and activewear, and Adore Me, which, while primarily focused on lingerie, operates within the broader apparel industry. These investments highlight TA Ventures' engagement in the apparel sector, particularly in brands that align with modern consumer values such as sustainability and innovation.


9. IBB Ventures


IBB Ventures is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in early-stage financing and has invested in over 270 startups, providing not only funding but also expertise and resources to help these businesses thrive in competitive markets. Among their notable transactions, IBB Ventures has invested in SkillYoga, which focuses on yoga and fitness training, and machtfit, a company that promotes corporate fitness solutions. These investments highlight IBB Ventures' interest in the activewear and fitness industry, showcasing their support for innovative startups that contribute to health and wellness.


10. b2venture

  • Website: b2venture.vc
  • Type: Venture Capital
  • Headquarters: St. Gallen, St. Gallen, Switzerland
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: btovpartners

b2venture is a venture capital firm based in St. Gallen, Switzerland, founded in 2000. The firm specializes in early-stage investments in innovative startups across various sectors, providing financial backing and support to entrepreneurs. They collaborate with a community of angel investors, enhancing their investment strategy and positioning them as a key player in the European venture capital landscape. Notably, b2venture has invested in Armedangels, a sustainable fashion brand that focuses on eco-friendly activewear, and Foodspring, an active nutrition startup that caters to health-conscious consumers. These investments highlight b2venture's engagement in the activewear and related industries, showcasing their interest in supporting brands that promote an active and healthy lifestyle.


11. German Startups Group VC GmbH


German Startups Group VC GmbH is a venture capital firm based in Frankfurt, Hesse, Germany, founded in 2012. The firm specializes in providing investment and financial services to startups and growth-stage companies across various industries, including technology and e-commerce. Notably, they have invested in Armedangels, a brand known for its sustainable activewear, and Kirondo, which may have relevance in the activewear context. Additionally, they participated in funding sporTrade GmbH, an online marketplace for sports equipment, further showcasing their engagement in the sports and activewear sector. Through their portfolio management, they support companies in achieving their growth objectives, which includes those in the activewear industry.


12. Possible Ventures

  • Website: possible.ventures
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2021
  • Headcount: 1-10
  • Number of deals in 2024: 9
  • LinkedIn: possible-vc

Possible Ventures is a venture capital firm based in Munich, Bavaria, Germany, founded in 2021. The firm has made a total of 9 investments in 2024, indicating an active investment strategy. One of their notable transactions includes a €6.4 million Series A funding for BEAT81, a Berlin-based fitness technology company, which aims to enhance fitness experiences through technology. This investment aligns with the activewear sector, as fitness technology often intersects with activewear brands. Additionally, Possible Ventures participated in a venture round for FATMAP, a company that provides mapping technology for outdoor activities, which could also relate to activewear. However, their investment in HELLO INSIDE, a company focused on mental health, does not directly connect to activewear. Overall, Possible Ventures demonstrates some relevance to the activewear industry through specific investments, particularly in fitness technology.


13. bmp Ventures

  • Website: bmp.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 1997
  • Headcount: 11-50
  • Number of deals in 2024: 3
  • LinkedIn: bmpventures

bmp Ventures AG is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in investing in early-stage and growth startups across various innovative sectors, providing not only financial resources but also strategic advisory services to help startups navigate their growth journey. While their clientele primarily consists of tech companies, they have also invested in relevant sectors such as sports and activewear. Notably, bmp Ventures led a €4M Series A funding round for Wingfield, a sportstech startup aimed at improving the experience for tennis players and facilities. This investment highlights their engagement in the activewear and sports technology market. Additionally, they have been involved in other ventures like Changers.com, which, while not directly related to activewear, showcases their diverse investment portfolio.


14. Verve Ventures

  • Website: verve.vc
  • Type: Venture Capital
  • Headquarters: Zurich, Zurich, Switzerland
  • Founded year: 2010
  • Headcount: 11-50
  • Number of deals in 2024: 25
  • LinkedIn: investiere-venture-capital

Verve Ventures is a Zurich-based venture capital firm founded in 2010, specializing in deep tech investments across Europe. The firm provides funding and strategic support to science and technology startups, focusing on sectors such as climate tech, industrial technology, and health & bio. Notably, Verve Ventures has participated in funding rounds for companies like Nanoleq, a wearable technology firm that raised CHF 11.5 million in a Series A round, indicating their interest in the intersection of technology and activewear. Additionally, they have been involved in other tech-focused investments, such as ActLight, which specializes in advanced sensor technology. This diverse portfolio suggests that while their primary focus is not solely on activewear, they are engaged in sectors that could align with the activewear industry, particularly through technology integration.


15. Capnamic

  • Website: capnamic.com
  • Type: Venture Capital
  • Headquarters: Cologne, North Rhine-Westphalia, Germany
  • Founded year: 2012
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: capnamic-ventures

Capnamic is a venture capital firm based in Cologne, North Rhine-Westphalia, Germany, founded in 2012. The firm specializes in early-stage investments, providing funding and strategic support to startups to help them grow in competitive markets. Capnamic focuses on delivering high returns through careful portfolio management and investment strategies. Notably, they have invested in Nanoleq, a wearable technology company that raised CHF 11.5 million in a Series A funding round, indicating their interest in innovative technologies that can enhance activewear. Additionally, they have invested in FATMAP, a platform that provides 3D mapping for outdoor sports, which aligns with the activewear industry by supporting outdoor activities. These transactions highlight Capnamic's engagement with sectors relevant to activewear, making them a noteworthy investor in this space.


16. Econa Ag

  • Website: econa.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 1999
  • Headcount: 1-10
  • LinkedIn: econa-ag

Econa Ag is a venture capital firm based in Berlin, Germany, founded in 1999. The firm specializes in providing investment and consulting services to startups across a diverse range of industries. Econa Ag supports ambitious founders with both capital and expertise to help them navigate challenges and maximize their chances of success. Their portfolio includes companies in sectors such as pet care, healthcare, and food technology. Notably, Econa Ag has invested in Armedangels, a sustainable fashion brand known for its commitment to ethical production, which includes activewear. Additionally, they participated in a funding round for Foodspring, an online superfood seller, indicating their interest in health and wellness sectors that often overlap with activewear. These transactions highlight Econa Ag's potential relevance in the activewear market, particularly in brands that emphasize sustainability and health.


17. SIGNA Group of Companies


SIGNA Group of Companies, founded in 1999 and based in Vienna, Austria, is a prominent venture capital firm primarily engaged in the real estate and retail sectors. The company focuses on commercial real estate development and operates various retail platforms across Europe. A significant transaction in their portfolio is the acquisition of SportScheck, a well-known sporting goods specialist, which was approved by the Bundeskartellamt on February 5, 2020. This acquisition added 19 additional shops and an online shop to SIGNA Retail's portfolio, significantly enhancing its position in the sports market in Germany. This move reflects SIGNA's strategic interest in the activewear sector, despite their broader focus on real estate and retail.


18. La Famiglia

  • Website: lafamiglia.vc
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: la-famiglia-vc

La Famiglia is a venture capital fund based in Berlin, Germany, founded in 2016. The firm specializes in early-stage and growth-stage investments, primarily in technology companies, and aims to support tech entrepreneurs by providing capital, market access, and strategic partnerships. Notably, La Famiglia has invested in Asana Rebel, which raised $6.5 million in Series A funding in January 2018. Asana Rebel is a fitness app that combines yoga and fitness, positioning itself within the activewear and wellness industry. This investment highlights La Famiglia's interest in the activewear sector, alongside their broader focus on disruptive innovations across various industries.



Activewear Brands Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Capvis AGBaar, Zug, Switzerland11-5019900
adidasHerzogenaurach, Bavaria, Germany10001+19491
SicticZurich, Zurich, Switzerland201-500201477
Deutsche BankFrankfurt, Hesse, Germany10001+187032
Infront Sports & Media AGZug, Zug, Switzerland501-100020030
HV CapitalFlensburg, Schleswig-Holstein, Germany11-50200028
Acton CapitalMunich, Bavaria, Germany11-5019993
TA VenturesFrankfurt, Hesse, Germany11-5020105
IBB VenturesBerlin, Berlin, Germany11-50199718
b2ventureSt. Gallen, St. Gallen, Switzerland11-50200015
German Startups Group VC GmbHFrankfurt, Hesse, Germany11-5020120
Possible VenturesMunich, Bavaria, Germany1-1020219
bmp VenturesBerlin, Berlin, Germany11-5019973
Verve VenturesZurich, Zurich, Switzerland11-50201025
CapnamicCologne, North Rhine-Westphalia, Germany11-5020126
Econa AgBerlin, Berlin, Germany1-1019990
SIGNA Group of CompaniesVienna, Vienna, Austria10001+19990
La FamigliaBerlin, Berlin, Germany11-5020164


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