Ownership profile
Who owns Cotopaxi?
Cotopaxi is a privately held outdoor gear and apparel brand legally incorporated as Global Uprising, PBC (a Public Benefit Corporation); its largest disclosed outside investor is Bain Capital Double Impact, the impact-investing arm of the private equity firm Bain Capital, which led a $45 million Series C round in 2021 and holds a confirmed minority board seat.
Ownership profile
Cotopaxi
Global Uprising, PBC
Evidence (10)
The company is structured as a public benefit corporation (Global Uprising, PBC dba Cotopaxi) and has been a certified B Corporation since 2015
https://www.causeartist.com/case-studies/cotopaxiCotopaxi registered as a Public Benefit Corporation in October 2013, and is listed as an active portfolio company of Bain Capital Double Impact with investment year 2021
https://www.baincapitaldoubleimpact.com/portfolio/cotopaxiCotopaxi's legal entity is Global Uprising, PBC — confirmed via US trademark registration showing 'COTOPAXI is a trademark of Global Uprising, PBC' with legal entity type listed as public benefit corporation
https://trademarks.justia.com/904/52/cotopaxi-90452707.htmlAs part of the 2021 investment round, Cecilia Chao of Bain Capital Double Impact joined Cotopaxi's board of directors, and Richard Waitumbi of Bain joined as a board observer
https://www.utahbusiness.com/archive/2021/09/09/bain-invests-in-cotopaxi/In September 2021, Cotopaxi secured $45 million in funding led by Bain Capital Double Impact, the impact investing arm of Bain Capital
https://finance.yahoo.com/news/cotopaxi-secures-45m-bain-impact-040133525.htmlPitchbook lists Bain Capital Double Impact as a minority investor in Cotopaxi, with the company's financing status as venture capital-backed and ownership status as privately held with backing
https://pitchbook.com/profiles/company/64553-05Davis Smith co-founded Cotopaxi in 2014 and stepped down as CEO in 2023; he was replaced by Damien Huang, who in turn was replaced in 2024 by Lindsay Shumlas, previously the company's COO and CFO
https://en.wikipedia.org/wiki/Cotopaxi_(company)Cotopaxi completed a Series C-2 funding round on May 22, 2025, with a post-money valuation of approximately $367 million and total funding raised around $78 million; investors in the latest rounds were undisclosed
https://forgeglobal.com/cotopaxi_ipo/Cotopaxi's total funding across all rounds is approximately $74.9M–$93.2M (sources vary), with at least 7 rounds from 27 investors including Greycroft, NEA, Forerunner Ventures, Revolution, and others alongside Bain Capital Double Impact
https://tracxn.com/d/companies/cotopaxi/__JMDvoUcARjSV4Q_QrR8F95w_E1hF719_y0njdSwM6w0/funding-and-investorsOutside Business Journal described Cotopaxi as 'PE-backed' and noted the $45 million round was described as 'private equity' funding
https://www.outsideonline.com/business-journal/brands/cotopaxi-ceo-outlines-goal-to-become-billion-dollar-brand/What's uncertain
- Bain Capital Double Impact's exact ownership percentage (stake size) has not been publicly disclosed; pe_involvement is scored 'influenced' (minority) rather than 'controlled' because no source confirms a majority or controlling position — the round is described as a growth/minority investment.
- The most recent funding rounds (Series C-1 in 2023 and Series C-2 in May 2025) list investors as undisclosed, so it is unknown whether Bain or other PE/VC firms increased their stakes.
- Pitchbook also lists 'Labyrinth Capital Partners' as an 'Other Private Equity' minority holder, but no independent press release or primary source was found to corroborate this; it is not counted as a named PE firm here.
- Crunchbase flags the company as 'Venture - Series Unknown' and lists 22 investors including Revolution and Greycroft alongside Bain; the vc_backed flag reflects the multi-round VC history predating and co-existing with Bain's involvement.
- The structure is recorded as 'private' (not 'nonprofit') because Cotopaxi is a for-profit public benefit corporation; PBC/B-Corp status does not change the for-profit private structure classification.
- All sources are public secondary databases, a PE portfolio page, and press releases — no SEC EDGAR filing or state registry filing confirming cap table was located.