Key Takeaways
- • HOF Capital completed a €1bn acquisition of Porsche's combined stakes in Bugatti Rimac and Rimac Group, closing a transaction first announced in April 2026 after receiving regulatory approvals.
- • HOF Capital now holds a 23.5% stake in Rimac Group, making it the largest shareholder, while the consortium acquired Porsche's 45% direct stake in Bugatti Rimac alongside Rimac Group's existing 55% controlling interest.
- • HOF secured three supervisory board seats across both companies, with co-founder Hisham Elhaddad joining boards at both Rimac Group and Bugatti Rimac, and partner Josh Klaczek taking a Rimac Group seat.
- • The transaction represents HOF Capital's strategic expansion beyond venture capital into larger, multi-layered corporate acquisitions involving established businesses, providing exposure to Bugatti's luxury automotive brand and Rimac's electric vehicle and high-performance automotive technology platforms.
- • Rimac founder and CEO Mate Rimac characterized the completion as a milestone enabling the next phase of growth for both Bugatti Rimac and the broader Rimac Group.
Summary
HOF Capital has successfully closed its acquisition of Porsche's interests in Bugatti Rimac and Rimac Group, a €1bn transaction that represents a significant shift in the investment firm's portfolio strategy. First announced in April 2026, the deal closed following receipt of all required regulatory approvals. HOF Capital originated and led the transaction as a consortium of institutional investors headquartered in the US and Europe, replacing Porsche as a key shareholder in both automotive companies.
The transaction restructures ownership across both entities. Rimac Group maintains its 55% controlling stake in Bugatti Rimac, while HOF Capital's consortium acquired Porsche's direct 45% stake in Bugatti Rimac. At the parent level, HOF Capital now holds 23.5% of Rimac Group and has become the company's largest shareholder, positioning it as a central stakeholder in the group's strategic direction.
HOF Capital's board representation underscores its active ownership model. The firm holds three supervisory board seats distributed across both companies. Hisham Elhaddad, HOF Capital's co-founder and managing partner, joined the supervisory boards of both Rimac Group and Bugatti Rimac, while partner Josh Klaczek secured a seat on the Rimac Group board. This representation provides HOF with direct involvement in governance and strategic decision-making.
The transaction marks a material evolution in HOF Capital's investment profile. The firm has historically operated within venture capital, but this acquisition demonstrates its capacity to execute complex, multi-billion-euro transactions involving established corporate assets and layered capital structures. The investment grants institutional investors exposure to Bugatti, recognized as one of the world's premier luxury automotive brands, alongside Rimac's technology platforms spanning high-performance automotive engineering and electric vehicle development. Elhaddad highlighted that the deal embodied the type of partnership HOF was established to pursue, while Mate Rimac characterized the completion as an important milestone supporting both companies' next growth phase.
The transaction restructures ownership across both entities. Rimac Group maintains its 55% controlling stake in Bugatti Rimac, while HOF Capital's consortium acquired Porsche's direct 45% stake in Bugatti Rimac. At the parent level, HOF Capital now holds 23.5% of Rimac Group and has become the company's largest shareholder, positioning it as a central stakeholder in the group's strategic direction.
HOF Capital's board representation underscores its active ownership model. The firm holds three supervisory board seats distributed across both companies. Hisham Elhaddad, HOF Capital's co-founder and managing partner, joined the supervisory boards of both Rimac Group and Bugatti Rimac, while partner Josh Klaczek secured a seat on the Rimac Group board. This representation provides HOF with direct involvement in governance and strategic decision-making.
The transaction marks a material evolution in HOF Capital's investment profile. The firm has historically operated within venture capital, but this acquisition demonstrates its capacity to execute complex, multi-billion-euro transactions involving established corporate assets and layered capital structures. The investment grants institutional investors exposure to Bugatti, recognized as one of the world's premier luxury automotive brands, alongside Rimac's technology platforms spanning high-performance automotive engineering and electric vehicle development. Elhaddad highlighted that the deal embodied the type of partnership HOF was established to pursue, while Mate Rimac characterized the completion as an important milestone supporting both companies' next growth phase.
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