District Ventures Capital, a venture capital fund focused on investing in innovative CPG brands announced Friday it has led a $20 million investment in women’s intimate-apparel brand, Huha Wear Inc. The investment, District’s largest to date, had co-investors including Export Development Canada.
The Vancouver-based brand, founded in 2019 by Alexa Suter is rapidly redefining health, comfort, and performance in the underwear category. Known for its popular Mineral Undies line, which uses breathable, tree-derived fibres combined with antimicrobial zinc-oxide liners, Huha will be using the investment for continued product innovation, building category leadership, and expansion into new markets, said District Ventures Capital in a news release.
“Alexa has developed a brand that resonates with consumers by creating underwear for modern health and comfort,” said Arlene Dickinson, Founder and General Partner of District Ventures Capital. “We see tremendous potential in Alexa’s vision and impressive momentum, and we are thrilled to partner and support the next chapter of this rapidly growing brand.”
Originally pitched on Season 18 of the hit TV series, Dragons’ Den, where a deal was struck by Arlene and Alexa, this now marks the largest investment in the show’s 20-year history and is District’s largest investment to date, according to the release.
“When founding Huha, my vision was to support, rather than compromise, women’s comfort and wellness,” said Alexa Suter, Founder of Huha. “With District Ventures’ resources behind us, we’re now ready to amplify that vision and bring Huha to more markets and consumers. This is an exciting milestone for the brand and the investment validates the demand for products that are made with innovative fibres that are healthy for our skin.”
District Ventures said its investment in Huha further underscores the venture capital fund’s strategy of backing innovative Canadian consumer packaged goods brands that merge strong visions with scalable business models.
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