Venture Capital News: HUF Worldwide Receives Investment
PALO ALTO, CA, Altamont Capital Partners today announced that it has made an investment in HUF Worldwide, a leading skate and streetwear brand.
Altamont Capital Partners (Altamont) today announced that it has made an investment in HUF Worldwide, Inc. (HUF), a leading skate and streetwear brand.
HUF was founded by professional skateboarder, Keith Hufnagel, who opened 5 boutique skateboard and apparel retail stores in San Francisco and Los Angeles in the early 2000's. In addition to carrying exclusive products from the most respected skate, street and sneaker brands, HUF began producing its own clothing. HUF-branded apparel was immediately in demand. Hufnagel ultimately shifted his focus to creating a full wholesale product line - and created one of the most sought after brands in the skate and streetwear communities.
Commenting on the deal, Scott Olivet, Operating Partner at Altamont said: 'HUF has carved out a unique brand position and continually delivered aspirational product with their own point of view. HUF has done an incredible job at building out each of its product categories and is on the path to creating a global brand. Keith and the management team's plan for the future is compelling and we back it completely.'
HUF will continue to operate as an independent, standalone company and will continue to be led by Jai Baek, Keith Hufnagel, Joanne Baek and Jino Choi. Hufnagel commented: 'After several years of rapid growth, we wanted to bring in partners who can help us build the infrastructure to make HUF a lasting company. We're confident that Scott and the Altamont team understand the brand and can help us achieve our goals.'
About Altamont Capital Partners
Altamont Capital Partners is a private investment firm based in the San Francisco Bay Area with over $1 billion of capital under management. Altamont is focused on investing in middle market businesses where it can partner with leading management teams to help its portfolio companies reach their full potential. The firm's principals have significant experience building business success stories across a range of industries including financial services government services consumer/retail industrials and healthcare.
HUF is a leading skateboard and streetwear apparel and footwear business based in Los Angeles. The company was founded on Keith Hufnagel's belief that the skateboarding lifestyle brings together a vast assortment of similar countercultures: from artists, to musicians, to photographers, to any creative like-minded individual, transcending race and social structure, and exposing the individual to a world free of prejudice or restriction. The company strives to express these values in the HUF collection.
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