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The Adidas Group recently agreed to fully back recently launched Hydra Ventures, a new venture capital firm focusing on creating brands in apparel, footwear and sports-related areas.
The Hydra Ventures website, (www.hydra-ventures.com), stated the firm is not limited by where it will invest geographically and is “interested in pursuing opportunities in nascent, fast-growing and American markets,” that are capable of reaching sales of at least EUR 100 million within the first 10 years.
The website also stated the firm is a different breed because of its backing by the Adidas Group, which will allow it to build sustainable, active consumer brands.
“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,” the website stated.
Greg Thomsen, managing director for Adidas Outdoor USA, was not available for comment to clarify what the creation of the new Netherlands-based venture capital firm will mean to potential businesses in the United States.
Currently, Hydra Ventures is considering seed-stage, majority-controlled investments, its website stated.
The Hydra Ventures board, which is responsible for investment decisions and mentoring portfolio companies, is made up of senior executives from the Adidas Group and other industry leaders.
Those board members are: Duncan Fitzwilliams, former non-executive director of AXA Investment Managers SA; Herbert Hainer, CEO of the Adidas Group; Toby Hoare, CEO of J. Walter Thompson Europe; Tom Montgomery, head of corporate strategy of the Adidas Group; and Robin Stalker CFO of the Adidas Group.