A French investment company, Genairgy, is taking a minority stake in Intrepid Travel, the companies said this week.
Intrepid co-founders Darrell Wade and Geoff Manchester, who started the business in 1989, will retain majority ownership of the company and remain on the board as chairman and director, respectively.
James Thornton will continue as CEO and a member of the board.
In a statement, the companies said the investment will "help Intrepid to accelerate its ambitious growth strategy with the goal to become the world's first $1 billion adventure-travel company by 2025."
Thornton said the partnership "demonstrates real confidence in the future of sustainable, experience-rich travel. It's clear that what was once considered a niche will become a mainstay tourism model post-Covid."
Genairgy is a family investment company owned by Julien Leclercq, a board member and shareholder of Decathlon, one of the world's largest sports retailers. Its portfolio includes a destination management company network, Altai, and an adventure travel division.