Bain Capital Double Impact has invested in Cotopaxi, an outdoor gear and apparel brand. Cotopaxi is adding Cecilia Chao of Bain Capital Double Impact to its board of directors.
Cotopaxi was founded in 2014 with the goal of creating sustainably designed outdoor products and helping fund poverty relief efforts. Cotopaxi products are sold at retailers, including REI, Moosejaw, MEC, Backcountry and the Cotopaxi’s website and retail stores.
“Cotopaxi is setting industry standards for mission-driven brands by integrating positive impact into every aspect of their business – from innovative designs and sustainable product development strategies to a commitment and culture of driving positive social and environmental outcomes,” said Chao.
The Cotopaxi Foundation awards grants to nonprofit partners. Throughout the pandemic, the Cotopaxi Foundation has awarded 36 focused grants, assisted over 822,000 impoverished individuals, received over 10,000 customer contributions, and donated masks to over 110,000 people, according to the company.
Cotopaxi is certified as a B Corporation, Climate Neutral company, and a 1% Pledge member. The company seeks to address the harmful environmental practices in the fashion industry by incorporating recycled compounds into 94 percent of its products and establishing manufacturing, labor, and supply chain standards to diminish waste.