The athletic shoe industry in Latin America is thriving, driven by increasing consumer interest in fitness and fashion. Innovations in online retail and sustainability are shaping the market, where companies sell everything from performance shoes to stylish sneakers. Major global brands and local startups alike are competing to capture this dynamic market. The rise of e-commerce and a growing emphasis on health and wellness underscore the industry's growth trajectory, with products specially tailored for sports enthusiasts and everyday consumers. Sustainability initiatives are becoming more prominent, hinting at a future where eco-friendly options dominate the shelves.


This list highlights eight notable investors operating within the athletic shoe sector in Latin America. These include venture capital firms like Kaszek and Go4it Capital, and corporate investors such as Magazine Luiza and PUMA México Sport. Headquartered mainly in Sao Paulo and Mexico City, these investors vary in size and focus, with years founded spanning from 1948 to 2018. Notably, several have engaged in various deals as recently as 2024, showcasing their interests in funding brands aligned with athleisure and fitness innovation.


Top 8 Athletic Shoe Investors in Latin America


1. 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 founded in 2011, based in Sao Paulo, Brazil, focused on investing in and supporting entrepreneurs across Latin America. The firm provides capital and strategic guidance to startups in various technology-driven industries, fostering a vibrant ecosystem in the region. Notably, Kaszek has invested in Grupo Netshoes, which raised $170 million in 2014, highlighting their engagement in the athletic shoe market. Additionally, their investment in Gympass, which received $220 million in funding to expand its fitness services, reflects their commitment to the health and fitness sector, further connecting them to the athletic shoe industry.


2. 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. They focus 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 Strava, a platform for athletes, which raised significant funding in multiple rounds, indicating Go4it Capital's interest in the sports industry. Their portfolio also includes companies like G2 Esports and Sorare, which, while not directly related to athletic shoes, demonstrate their engagement in the broader sports and digital media landscape.


3. Nexxus Capital


Nexxus Capital is a private equity investment firm based in Mexico City, specializing in private equity and mezzanine debt for mid-sized companies in Mexico and Spain. Founded in 1995, the firm manages multiple funds aimed at providing capital to help businesses grow and expand. Among their notable transactions, they invested in Grupo Sports World, a company that operates in the sports retail sector, which could include athletic shoes. Additionally, they have been involved in other sectors, such as Immunotec and Grupo Turistore, but these do not directly relate to athletic footwear. Their focus on mid-sized companies seeking to enhance operations and market presence aligns with potential investments in the athletic shoe industry, but their portfolio does not strongly emphasize this niche.


4. The Next Company


The Next Company is a corporate investment firm based in Sao Paulo, Brazil, founded in 2018. They focus on 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. Notably, The Next Company participated in a seed round investment for CARIUMA, which raised $13 million on August 5, 2019. CARIUMA is known for its commitment to sustainability and produces athletic shoes, showcasing The Next Company's engagement in the athletic shoe market.


5. Innova Capital


Innova Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm specializes in investing in innovative and scalable technology companies across various sectors, including anti-fraud solutions, embedded finance, and online credit marketplaces. Notably, Innova Capital has participated in funding rounds for CARIUMA, a Singapore-based sneaker brand, which raised significant amounts in 2021 and 2022. This involvement highlights their interest in the athletic shoe market, despite their broader focus on technology-driven solutions for e-commerce and finance.


6. 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 recognized for its sustainable athletic shoes, which highlights their engagement in the athletic shoe industry. This transaction reflects their capability and interest in investing in relevant sectors, including athletic footwear.


7. Magazine Luiza


Magazine Luiza is a prominent retail and e-commerce company based in Sao Paulo, Brazil, founded in 1957. It operates a marketplace platform that connects consumers and businesses, offering a diverse range of products, including electronics, home goods, and athletic footwear. A significant transaction in its portfolio is the acquisition of Netshoes for $62 million, announced on April 29, 2019. Netshoes is a leading online retailer specializing in athletic shoes and sports apparel, which enhances Magazine Luiza's presence in the athletic shoe market. Additionally, the company provides services like Magalu Pay for financial transactions, further facilitating online sales and logistics for various product categories, including athletic footwear.


8. 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 an online store, providing easy access to their latest collections and promotions. Notably, PUMA has been involved in significant transactions, such as the acquisition of Cobra Golf from Acushnet Co. This acquisition, announced on March 10, 2010, aims to strengthen PUMA's presence in the golf club market, which complements their existing athletic footwear offerings. This strategic move highlights PUMA's commitment to expanding its influence in the sports industry, particularly in areas related to athletic performance and style.



Athletic Shoe Insights: Key Investors in Latin America


InvestorHeadquarterSizeFoundedDeals 2024
KaszekSao Paulo, Sao Paulo, Brazil11-50201117
Go4it CapitalSao Paulo, Sao Paulo, Brazil1-1020150
Nexxus CapitalMexico City, Mexico City, Mexico11-5019950
The Next CompanySao Paulo, Sao Paulo, Brazil1-1020180
Innova CapitalSao Paulo, Sao Paulo, Brazil1-1020112
Lanx Capital InvestimentosSao Paulo, Sao Paulo, Brazil11-5020032
Magazine LuizaSao Paulo, Sao Paulo, Brazil10001+19570
PUMA México Sport S.A. de C.V.Mexico City, Mexico City, Mexico1-1019480


Want to find more investors focusing on the athletic shoe industry?

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