Raine Group leads £145m funding round in sportswear brand Castore

Hanaco Ventures and Felix Capital also participated in the investment round.

  • The Raine Group invested in Castore via its growth equity fund Raine Partners
  • Hanaco is a multi-stage investment firm
  • Felix is a London-based venture capital firm

The Raine Group has led a £145 million ($184 million; €168 million) investment round in Castore, a sportswear brand and end-to-end digital retailing platform for global sports teams. Hanaco Ventures and Felix Capital also participated in the investment through their respective growth funds.

The Raine Group invested in Castore via its growth equity fund Raine Partners.

Castore is based in Liverpool, UK.

The investment will enable Castore to continue to win new relationships with sports franchises across the world, supplying its customers with a full range of merchandise while also providing them with the data and tools to deepen engagement with their fans, according to a release.

It will develop the breadth and reach of its mainline product range and will also continue to invest in its people and infrastructure systems, the release added.

“Sports teams and leagues are among the most cherished brands in the world,” said Jason Schretter, partner of The Raine Group. “They deserve comprehensive and bespoke solutions to help them better connect, engage and monetise their global fan bases. Castore’s differentiated combination of high-quality merchandise and data-driven technology solutions is the answer sports franchises need to unlock this massive opportunity.”

The Raine Group is a global TMT merchant bank that focuses on both advisory and principal investment in the global TMT ecosystem. It is based in New York.

Hanaco is a New York and Tel Aviv, Israel-based multi-stage investment firm investing through early-stage and growth/pre-IPO.

Felix is a London-based venture capital firm.

Latham and Watkins acted as legal advisor to Raine.