Rhoback, the activewear upstart based in Charlottesville, VA, has secured a strategic investment from Champ, the newly launched fund supported by L Catterton, Patricof, and several pro athletes.
The Wall Street Journal reported that Champ and other investors are putting “nearly $50 million” into Rhoback for a minority stake with plans to use the capital to open new retail locations. Rhoback opened its first brick & mortar store in Charlottesville last November.
The investment establishes Rhoback as Champ’s first partnership and brings Champ on board as a strategic partner to help accelerate the brand’s next phase of growth, according to a press release. The brand’s co-founders – Kevin Hubbard, Kristina Loftus, and Matthew Loftus – retain control of the business and continue to guide its long-term vision and day-to-day operations.
Established in April, Champ, which stands “CHampion Athlete Managing Partner,” is a joint venture between the private equity firm L Catterton and the athlete investment advisory firm Patricof and a goal of raising $500 million to invest in trending consumer brands. L Catterton, which is heavily backed by the luxury fashion giant LVMH and LVMH’s founder Bernard Arnault, has made a number of investments in the active lifestyle space, including Birkenstock, Peloton, Solidcore and EGYM.
The funding platform also features direct financial backing and equity alignment from more than 250 elite athletes across major sporting leagues, including Joe Burrow, Dak Prescott and Caleb Downs from the NFL, Kevin Durant and Cade Cunningham from the NBA, Bobby Witt Jr. and Mike Trout from MLB, golfer Patrick Cantlay, polo player Nacho Figueras, and college sports/digital personality Livvy Dunne.
Founded in 2016, Rhoback, a name inspired by the Rhodesian Ridgeback, serves more than 2 million customers worldwide, has shipped over 3.5 million orders, employs more than 100 people, and surpassed $150 million in revenue in 2025. The WSJ reports that the brand is on pace to exceed $200 million in 2026.
Known for its moisture-wicking performance polos, active t-shirts, quarter-zips, and hoodies, the brand is particularly popular among golfers, outdoor enthusiasts, and college students. According to the press release, Rhoback has benefited as an “early leader” in partnering with college football athletes on Name, Image and Likeness (NIL) deals that have helped the brand form deals with nearly 60 different NCAA universities and colleges.
Rhoback also a “strong presence within the rapidly expanding golf creator ecosystem,” with partnerships with some of the sport’s most influential digital personalities, including The Bryan Bros, BustaJack Golf, Claire Hogle and Josh Kelley. Rhoback last year partnered with the Jack Nicklaus estate on a limited-edition collection featuring the iconic “Golden Bear” alongside Rhoback’s signature dog logo.
“Rhoback represents exactly the kind of brand Champ was designed to support,” said Scott Dahnke, global CEO of L Catterton. “The company has built a distinctive brand through premium products, authentic storytelling, and a deeply engaged community. We believe Rhoback is well positioned to benefit from Champ’s unique combination of consumer expertise and athlete engagement.”
Daniel Magliocco, partner at Patricof Co, added, “The most impactful athlete partnerships happen when incentives are aligned. Rhoback has already built a remarkable business and brand, and we’re excited for them to work hand-in-hand with a network of athletes who can contribute strategically while helping introduce the brand to new audiences.” The partnership comes as Rhoback continues to expand beyond its direct-to-consumer roots. This investment will support Rhoback’s continued expansion following the company’s first retail location and will support its rapidly expanding wholesale and collegiate licensing businesses.
Co-Founders Matt Loftus, Kevin Hubbard, and Kristina Loftus said, “Today’s announcement is a testament to the community that has supported Rhoback from the beginning. When we started the company, we had no apparel experience and no outside funding—just a passion to create the highest quality apparel that kept up with our active lives. We’ve grown one customer at a time by creating products we believe are the best on the market and fostering a community around our ‘Crave Activity’ lifestyle. We weren’t looking for capital; we were looking for the right partner. Champ brings together unmatched expertise across consumer brands, sports, and culture, and we’re excited about what we can build together while staying true to what makes Rhoback unique.”
“Rhoback approached NIL differently than most brands,” said Caleb Downs, first round pick of the Dallas Cowboys. “They built meaningful relationships with athletes, prominently featuring us in national marketing campaigns and treating us like true partners. As one of the first and best brands to navigate this space, they’ve earned incredible credibility with college athletes and the universities that support them.”
Image courtesy Rhoback
