Egyptian billionaire Sawiris family-linked HOF Capital buys Porsche's Bugatti stake in a deal valuing the brand above $1 billion

A venture capital firm co-founded by a member of Egypt's billionaire Sawiris family has bought Porsche's entire stake in supercar brand Bugatti. The deal gives the Sawiris-linked fund a foothold in one of the world's most exclusive automotive names.

HOF Capital, the New York-based investment firm co-founded by Onsi Sawiris, led a consortium that acquired Porsche's 45% stake in Bugatti Rimac. Abu Dhabi-based BlueFive Capital came in as the largest investor within the consortium, which also includes institutional investors across the United States and the European Union. The transaction agreements were signed on April 24. Completion is subject to regulatory clearances and is expected before the end of 2026. Financial terms were not disclosed publicly, but a person with knowledge of the deal told Bloomberg the valuation of Bugatti Rimac sits above $1 billion.

Porsche also held a separate 20.6% stake in Rimac Group, the Croatian automotive holding company that owns 55% of Bugatti Rimac. That stake is being divested to the same consortium.

HOF Capital is not a traditional automotive investor. Founded in 2016 by Hisham Elhaddad, Onsi Sawiris and Fady Yacoub, the firm manages over $7 billion in assets and has built a portfolio of early-stage technology companies including OpenAI, SpaceX, Anthropic and Neuralink. Its entry into luxury automotive is a deliberate pivot into a new category, and the Bugatti name gives it immediate global recognition.

Onsi Sawiris is a member of Egypt's most prominent business dynasty. His father Naguib Sawiris is the billionaire chairman of Orascom Investment Holding, founder of La Mancha Resources and one of Africa's most closely tracked investors. His uncle Nassef Sawiris is Egypt's richest man with a net worth above $9 billion. His grandfather Onsi Sawiris founded the construction empire that became the foundation of the family's wealth.

BlueFive Capital, which manages $15 billion in assets and is incorporated in Abu Dhabi's financial center, clarified that its investment is limited to the Bugatti Rimac joint venture and does not extend to Rimac Group itself.

Once the deal closes, Rimac Group will take control of Bugatti Rimac and form a strategic partnership with HOF Capital and BlueFive Capital. HOF Capital will also join Rimac Group as the largest shareholder alongside Mate Rimac, the Croatian entrepreneur who founded the company.

Porsche's exit is driven by pressure at home. The German automaker's operating profit collapsed 93% last year as U.S. tariffs, weak Chinese demand and electric vehicle investment costs squeezed margins to near zero. Chief Executive Michael Leiters said the sale allows Porsche to focus capital on its core brand.

"As an early-stage investor of Rimac Group, Porsche made a significant contribution to developing Rimac Technology into an established Tier-1 automotive technology company," Leiters said in a joint statement. "With the sale of our stake, we are focusing Porsche on the core business."

The Sawiris family now has exposure to one of the world's most recognized luxury brands through a vehicle that has already demonstrated an ability to identify category-defining companies well before they reach the mainstream.