SEATTLE, Wash. – Sep 20, 2022 – Digsbury Ventures officially launches its venture capital fund focused on the outdoor industry, investing in founder-led, private companies looking for strategic investments and guidance for growth.
“After the last 2 years of exceptional growth in the outdoor industry we know there are companies and individuals with fantastic ideas that need capital to seize the opportunities they have before them. Digsbury was created for them.” states Steve Westover, Managing Partner.
Digsbury Ventures was established by Mike and Steve Westover, two brothers with diverse and complementary backgrounds: Mike, an outdoor enthusiast who spent a lifetime in insurance and technology and Steve, who has years on the marketing and product side in both the outdoor and technology spaces. They believe outdoor products and services are as impactful in individual lives as traditional investments, yet access to capital for early stage outdoor founders has typically been much more difficult than traditional venture funded industries like technology and finance. Until now.
“At Digsbury, we want to inspire people for a lifetime of adventure,” shared Mike Westover, Digsbury co-founder. “As passionate outdoor enthusiasts, we truly believe that this isn’t just an investment opportunity but also vital to the health and happiness of our population and industry.”
Digsbury’s first investment is with Toronto-based carbon fiber bike frame manufacturer, Bridge Bike Works. Assembling leaders in design and manufacturing and building a world-class composites production facility, Bridge Bike Works is creating a cycling product that has the attention to detail and hand-built nature of boutique brands with the dedicated professional engineering, design, and production of the big brands.
Bridge first approached Digsbury Ventures in November 2021, and after successfully establishing the company and facilities, Digsbury infused cash to acquire much needed components in a strained supply chain to support current and future orders. With the uncertainty around delivery times and delays due to COVID, Digsbury’s investment ensures Bridge customers will receive complete bikes for upcoming shipments, allowing Bridge to focus on future company planning and growth.
In July 2022, Bridge successfully showcased their first complete bike at the ENVE headquarters in Ogden, Utah to much acclaim as an exciting, professional, new market entrant. Since then, they have completed other builds for testing to the needed ISO safety and longevity standards (which they have been passing with flying colors), with the goal of shipping customer pre-orders in September 2022.
Founders looking for capital, with shared goals within the outdoor space and the environment, should contact Digsbury Ventures via steve@digsbury.com.
About the founders:
Michael Westover was a longtime outdoor enthusiast who spent his business life at the intersection of insurance and technology. He spent his formative years working on new technologies and building startup companies that have changed the face of the insurance industry. After helping build the groundbreaking direct to consumer insurance company, Assurance, it was sold to Prudential for $2.35 billion. Mike passed away in July of 2022, entrusting his brother to pursue their shared vision for Digsbury Ventures.
Steve Westover is a veteran of the outdoor and technology spaces and is most comfortable marketing products and services that result in health and happiness. His career has resulted in award winning global marketing campaigns and helping build a company to #7 on the Inc. 500. He has over 25 years of marketing and brand experience that spans across multiple mediums and environments.
