Adidas Group reached an agreement to fully back Hydra Ventures, a new venture capitalist firm based in the Netherlands, to create and develop sustainable apparel, footwear, and sports brands.
To learn more, check out the press release:
Adidas Group has reached an arrangement to fully back Hydra Ventures, a new venture capital firm based in the Netherlands that will create and develop new consumer brands in the apparel, footwear and sports related areas. Hydra Ventures’ full backing by the Adidas Group allows it “to take a long-term perspective on building sustainable consumer brands,” reads the firm’s website.
According to Hydra Ventures’ website, “Hydra Ventures is a different breed of investment firm. It is run as a venture capital firm, but full backing by adidas AG allows Hydra Ventures to take a long-term perspective in building sustainable consumer brands. We are able to back teams through all stages of their development and provide financing terms that are flexible and transparent. We take great care in identifying and assembling talented teams, rather than investing simply in business ideas, and understand that financial performance, while crucial, is among several key metrics that ultimately measures a brand’s long-term sustainability.”
Hydra Ventures counts three of Adidas Group’s top executives on its board, including CEO Herbert Hainer; Adidas’ Managing Director Tom Montgomery and Adidas’ CFO Robin Stalker. The veteran fund manager on the board is Duncan Fitzwilliams, who sits at the helm of Nash Fitzwilliams, a London firm that specializes in private placements of between $1.5 million and $30 million. Rounding out the five -member board is Toby Hoare, CEO for JWT Europe J. Walter Thompson, the global advertising firm.