L Catterton Teams Up with Kevin Durant and 250 Other Sports Stars to Launch Consumer Goods Fund CHAMP
On April 23, LVMH Group's private equity fund L Catterton announced the joint establishment of a new fund called CHAMP with the professional athlete investment advisory platform Patricof Co. The fund size is $500 million, with the primary investment target being consumer goods companies.
CHAMP's core feature lies in its unique athlete ownership model—athletes participate as co-owners of the invested companies alongside L Catterton and Patricof Co, thereby establishing strong and authentic interest alignment.
Currently, 250 sports stars have established partnerships with CHAMP, including: NBA star Kevin Durant, baseball player Mike Trout, golfer Patrick Cantlay, former gymnast Livvy Dunne, and others.
Above: NBA star Kevin Durant. Durant is very active in the investment field, with his highest-return project being the fitness wristband WHOOP—Durant participated in its Series B financing in 2017, when the valuation was approximately $125 million. Today, the company's valuation has exceeded $10 billion, 80 times that amount.
CHAMP will select consumer brands that are emerging and have a certain scale. Through the authentic involvement of athletes, it aims to enhance brand awareness, deepen consumer engagement, and open new avenues for growth. This strategy is particularly targeted at companies with strong brand foundations but insufficient exposure—athlete participation is expected to accelerate their growth.
Patricof Co was founded by American entrepreneur Mark Patricof and is dedicated to providing advisory services to professional athlete clients, helping them expand their networks, accumulate knowledge, and become independent, successful investors and business elites.
L Catterton Global CEO Scott Dahnke said: "Driven by the convergence of culture, technology, and media, consumer behavior is undergoing profound and lasting changes. Our exclusive research shows that athletes are among the most trusted and influential voices in the consumer goods sector. This partnership represents an extension of L Catterton's consumer investment strategy."
L Catterton and Patricof Co have collaborated multiple times over the past 10 years: the two have jointly invested in hot sauce brand Cholula Hot Sauce, dessert brand Kodiak Cakes, truck accessory manufacturer RealTruck, and others.
| Source: Official press release, Financial Times
| Image source: Kevin Durant's official Weibo screenshot, L Catterton official website screenshot