Dubai, United Arab Emirates--(Newsfile Corp. - May 2, 2023) - ASCA Capital Limited, a DIFC based asset manager focusing on private equity investments in high-growth companies, today announced that it has made a minority investment in SQUATWOLF, a fast-growing premium gymwear brand founded in Dubai and with product design and innovation in the UK. The terms of the investment allow for ASCA to invest up to USD 30m over time with a significant proportion being invested in the first 12 months to support identified expansion initiatives. The investment will enable SQUATWOLF to expand its omni-channel presence, further develop its product line, strengthen its internal capabilities and enhance its customer engagement and brand presence.
Figure 1
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SQUATWOLF, which was founded in Dubai in 2016, has quickly established itself as a premium gymwear brand and now has a global reach through ecommerce and presence in third-party retail platforms. The brand offers a considered collection of high-quality gymwear for both men and women, and its innovative designs have won acclaim for their combination of insight-driven function, style, and comfort. SQUATWOLF is sold in more than 120 countries and is currently available through squatwolf.com and the SQUATWOLF app, as well as some of the most recognisable sports retail stores in the Middle-East. With ASCA Capital's investment, SQUATWOLF will be able to build on its success to date and establish itself as the choice of athletes across the globe.
On the left - Wajdan Gul, Co-Founder and CEO of SQUATWOLF & on the right, Anam Khalid, Co-Founder and COO of SQUATWOLF
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"We're thrilled to be partnering with SQUATWOLF and supporting the growth of this innovative and premium gymwear brand," said Niels Stidsen, Partner at ASCA Capital. "SQUATWOLF has already achieved impressive success, and we believe that our investment will help the company to unlock even greater potential," added Tom Hodgson, Partner at ASCA Capital.
"We're excited to have ASCA Capital on board as we continue to build our brand, products and reach. Their perspective, expertise and experience in working with both high-growth and more established companies make them the right partner for us on the next leg of our journey," said Wajdan Gul, Co-Founder and CEO of SQUATWOLF. "This investment from ASCA Capital will provide a launch-pad opportunity for the brand and the product portfolio. We're confident that together we can achieve great things and fulfil our objective of "leading the pack" through desirable, performance-focused gymwear," added Anam Khalid, Co-Founder and COO of SQUATWOLF.
Early investors in SQUATWOLF, Disrupt.com, are remaining as shareholders and will continue to provide support to the business. "At Disrupt.com, we believe in backing the innovators and game-changers of tomorrow. We partnered with SQUATWOLF at an early stage of the business and are thrilled to see them disrupt the gymwear industry and elevate the human experience through purposeful products," said Abdul Rafay Gadit, Partner at Disrupt.com.
The investment by ASCA Capital is the latest milestone in SQUATWOLF's rapid growth trajectory. The brand has already experienced exponential growth in the gymwear industry and, with the support of ASCA Capital, it will leverage that success to become an even more prominent player in the market.
About ASCA Capital: ASCA Capital is a DIFC based Private Equity fund manager, focusing on investments into high-growth companies, typically targeting Middle East based companies with international potential. The firm was founded in 2021 by Niels Stidsen, Tom Hodgson and Jacob Jensen, with the purpose of working closely with Founders and Management teams in provide funding, strategic guidance, and operational support to help companies achieve their full potential and the objectives of the key stakeholders. With a track record of success working with high-growth companies, the team at ASCA Capital are ideal partners for entrepreneurs and management teams seeking to scale their businesses. ASCA Capital Limited is regulated by the DFSA.
About SQUATWOLF: SQUATWOLF is a fast-growing gymwear brand that offers a wide range of high-quality and technical gymwear for both men and women. With innovative designs that prioritize insight-driven performance, style, comfort, and durability, SQUATWOLF has quickly established itself as a beacon in the gymwear industry. Founded in Dubai in 2016, the brand is committed to providing athletes with the best possible gymwear, while also driving growth and success for its investors and stakeholders.
About Disrupt.com: Disrupt.com is a venture builder that partners with ambitious entrepreneurs and founders to ignite growth and innovation in their businesses. With a focus on transformative technologies and innovative business models, Disrupt.com Group brings in capital and counsel, but more importantly, it brings its conviction. Its unique approach includes providing strategic guidance and getting operationally involved with ambitious founders and entrepreneurs, a network of industry experts, and equipping startups and businesses with the resources necessary to achieve success.
Addleshaw Goddard provided legal representation to ASCA Capital while Deloitte provided financial and tax advisory support. Decherts provided legal representation to the SQUATWOLF shareholders.
For any media enquiries, contact:
Anam Khalid
[email protected]
Co-Founder
SQUATWOLF
Niels Stidsen - Partner
[email protected]
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