Bugatti Rimac Officially Quit VW Group, HOF Capital Replaces Porsche as Strategic Investor

• Porsche’s stakes in Bugatti Rimac and Rimac Group have officially been acquired by a consortium led by HOF Capital, with BlueFive Capital as the largest investor in the consortium.
• The transaction closes a partnership that began with Porsche’s first investment in Rimac in 2018 and eventually led to the creation of Bugatti Rimac in 2021.
• Mate Rimac will take on an even larger leadership role, becoming President of Bugatti Automobiles in addition to serving as CEO of Bugatti Rimac.

Porsche’s Chapter With Rimac Comes to an End

A significant chapter in the modern history of Bugatti and Rimac has officially closed. Bugatti Rimac confirmed that the acquisition of Porsche’s holdings in Rimac Group and Bugatti Rimac by an international consortium led by HOF Capital has now been completed.

The transaction was initially announced in April 2026. The consortium includes BlueFive Capital as its principal investor, alongside other institutional investors from the United States and Europe. Financial terms have not been disclosed.

The move represents much more than a simple change of shareholders. Porsche played a fundamental role in Rimac’s transformation from a relatively small Croatian electric-performance specialist into an increasingly important automotive technology company — and eventually helped create the corporate structure that placed Bugatti under Mate Rimac’s leadership.

A Porsche-Rimac Relationship That Started in 2018

Porsche’s involvement with Rimac began well before Bugatti entered the picture.

In June 2018, Porsche acquired an initial 10% stake in Rimac Automobili. That investment came as Porsche was accelerating its own transition toward electrification and recognized Rimac’s expertise in high-performance electric powertrains, battery systems and vehicle development. Porsche increased its position to 15.5% in 2019.

The relationship deepened rapidly. In March 2021, Porsche invested another €70 million and increased its direct stake in Rimac to 24%. At the time, Porsche highlighted Rimac’s expertise in prototypes, small-series production, batteries and high-performance electric drivetrains.

The defining moment came later that year.

Porsche and Rimac agreed to create Bugatti Rimac, a joint venture that would effectively bring together Bugatti’s century-old hypercar heritage and Rimac’s expertise in electrification and advanced automotive technology. Rimac Group controlled 55% of the new company, while Porsche held the remaining 45%. Bugatti and Rimac remained distinct brands, with Bugatti continuing to build its cars in Molsheim, France.

That structure also marked an important transition for Bugatti itself, shifting the brand away from its traditional position within the Volkswagen Group and toward a more specialized hypercar organization under Mate Rimac.

Five years later, Porsche is stepping away.

When the sale was announced in April, Porsche said it was divesting its entire 45% interest in Bugatti Rimac as well as its stake in Rimac Group, explaining that the decision reflected a renewed focus on Porsche’s core business.

What Is HOF Capital?

Porsche’s replacement is not another automaker, but an investment firm with a strong focus on technology.

HOF Capital is a New York-based multi-stage investment firm founded in 2016. Rather than specializing in the automotive industry, HOF invests primarily in ambitious technology businesses and emerging industries, particularly artificial intelligence, advanced computing, fintech, biotechnology and other so-called frontier technologies.

Its portfolio illustrates the scope of that strategy. HOF lists investments in companies including Anthropic, SpaceX, Neuralink, Commonwealth Fusion Systems and Colossal Biosciences, while Bugatti itself now appears among its portfolio companies.

The arrival of HOF therefore changes the nature of Bugatti Rimac’s strategic partner: Porsche brought direct automotive manufacturing, engineering and industry expertise, while HOF brings capital and access to a broad network concentrated around technology and emerging industries.

Mate Rimac Strengthens His Control of Bugatti

The ownership transition is accompanied by important management changes.

Mate Rimac, CEO of Bugatti Rimac since the joint venture was created in 2021, will now also become President of Bugatti Automobiles. Christophe Piochon is leaving his positions as President of Bugatti Automobiles and Chief Operating Officer of Bugatti Rimac after more than two decades with the French manufacturer.

“With more than twenty years at Bugatti, Christophe has had a profound impact on the brand as we know it today. From the Veyron to the Tourbillon, he has helped build and preserve the quality and craftsmanship that define every hypersports car leaving Molsheim. On behalf of the entire Bugatti Rimac team, I would like to thank Christophe and wish him every success in the future. I would also like to take this opportunity to welcome Marko.”

— Mate Rimac, CEO of Bugatti Rimac

Rimac credited Porsche with helping establish the foundations that made the current structure possible, describing the German manufacturer as a valuable partner throughout the development of Bugatti Rimac.

“I am very pleased that the transaction with Porsche and HOF Capital has now been completed. Porsche has been a valuable partner throughout all these years and has helped us build a strong foundation for the future of the brand. I look forward to continuing our collaboration with HOF Capital, which will be a major asset in bringing our long-term vision to life and supporting Bugatti’s exciting future.”

— Mate Rimac, CEO of Bugatti Rimac