Hyrox Founders Regain Majority Ownership in Fitness Race Valued Near $700 Million
Hyrox co-founders Christian Toetzke and Moritz Fürste have reclaimed a 51% majority stake in the global fitness race, estimated to be valued around $700 million, signaling a new chapter after a period of external majority ownership.
The short version
- Hyrox co-founders Christian Toetzke and Moritz Fürste have reacquired a 51% majority stake in the company, taking control back from Infront Sports & Media AG.
- The deal, confirmed by Infront on September 8, 2026, involved a consortium including global private equity firm L Catterton and venture firm WndrCo, co-founded by Jeffrey Katzenberg.
- Hyrox, founded in 2017, grew from 3,000 participants and 10,000 spectators in 2019 to 1.4 million participants and over 1.5 million spectators by the 2025-2026 season.
- Multiple outlets, including Inc. and Reuters, estimate Hyrox's valuation near $700 million, though financial terms were not officially disclosed.
- Christian Toetzke stated that the founders are not cashing out but buying back shares to control the sport's next growth phase, with Olympic recognition a priority.
The fitness world is buzzing as Hyrox co-founders Christian Toetzke and Moritz Fürste have officially regained a 51% majority stake in their rapidly expanding global fitness race. The move marks a significant founder buyback, shifting control back from Switzerland-based Infront Sports & Media AG, which had held a majority stake since October 2022.
The deal, confirmed by Infront on September 8, 2026, sees the founders, along with a consortium of investors including L Catterton and WndrCo, now controlling the destiny of the hybrid fitness phenomenon. Inc. and Reuters reported the company's valuation near $700 million, with some reports, like This Rox Life, suggesting a range between $700 million and $1 billion.
How Did Hyrox Achieve Such Rapid Growth?
Hyrox, founded in Hamburg in 2017, combines 1-kilometer runs with eight functional exercise stations in a standardized indoor race format. When Infront first invested in December 2019, Hyrox had just 3,000 participants and 10,000 spectators. Under Infront's majority ownership, the sport exploded, reaching an estimated 1.4 million participants and over 1.5 million spectators for the 2025-2026 season, across more than 100 events in over 30 countries.
Moritz Fürste, a double Olympic hockey gold medalist for Germany, stated that “This acquisition marks a pivotal next step in the rapid evolution of the Hyrox success story.” Christian Toetzke echoed this sentiment in a joint Instagram post with Fürste, saying they “have reinvested in HYROX to go back to owning a majority stake in what started as our baby – and what we intend to keep building for decades to come.”
Who Are the New Minority Partners?
The new ownership consortium includes L Catterton, a global consumer-focused private equity firm known for its connection to LVMH and the Arnault family, and WndrCo, a venture capital firm co-founded by former Disney executive Jeffrey Katzenberg and Dropbox co-founder Sujay Jaswa.
Christian Toetzke clarified the LVMH connection, stating, "That's the connection to Louis Vuitton when everyone was writing about Louis Vuitton buying HYROX. That's not correct, but that's not totally wrong." He added that the investor groups “will help us. They will open us a lot of opportunities for the next chapter of HYROX and the next phase of growing the sport... But we are controlling it and we are not cashing out.” Infront President and CEO Philippe Blatter noted that Hyrox delivered “strong returns for Infront” during their ownership.
What Comes Next for Hyrox?
With the founders back at the helm, a key priority for Christian Toetzke is pursuing Olympic recognition for the Hyrox format, a goal shared by Hyrox India head Deepak Raj, who aims for a place in the 2032 and 2036 Olympic Games. The company will also continue to focus on calendar expansion and operational standardization.
Leading indicators to watch over the next 60-90 days include the listing of more multi-day races, increased gym-chain integrations, and enhanced consistency in operational aspects like check-ins and judging. The global wearables exclusive deal signed with Amazfit in April 2026 will continue, as the founders negotiated that deal directly. Additionally, Christian Toetzke confirmed his and Moritz Fürste's previously undisclosed involvement as investors, board members, and creators behind XENOM, a rival hybrid-fitness circuit.
This is educational information, not legal, financial, tax, or investment advice.
Frequently asked questions
What is Hyrox?
Hyrox is a standardized indoor fitness race founded in 2017 in Hamburg, Germany. It combines eight 1-kilometer runs interspersed with eight functional exercise stations, making it a test of both endurance and strength.
Who are the key players in Hyrox's new ownership structure?
The co-founders, Christian Toetzke and Moritz Fürste, now hold a 51% majority stake. Minority partners include L Catterton, a global private equity firm, and WndrCo, a venture capital firm co-founded by Jeffrey Katzenberg and Sujay Jaswa.
What are Hyrox's goals for the future under founder control?
Co-founder Christian Toetzke's stated priority is to pursue Olympic recognition for the Hyrox format, with targets set for the 2032 and 2036 Olympic Games. The company also aims for continued global calendar expansion and operational standardization.
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