How Jim Reynolds and NBA Stars Are Powering Coco5’s Rise in the Hydration Market

Jim Reynolds, founder and CEO of Loop Capital, built the firm into the world’s largest Black-owned investment bank, overseeing a team of 300 professionals handling thousands of deals annually.

In 2011, Loop Capital was introduced to Coco5, a hydration beverage company seeking investment. A longtime fitness enthusiast, Reynolds appreciated the product and eventually invested, joining its board.

By 2021, he introduced Coco5 to his wealth management clients, including NBA stars Devin Booker, Derrick Rose, and D’Angelo Russell. That year, alongside Booker, Russell, Charles Barkley, Michael Wilbon, Rose, and Marcus and Markieff Morris, Reynolds acquired the company from its founders, Mike Gapski and Scott Sandler.

Since its 2022 relaunch, Coco5 has expanded from 100 to over 4,000 retail locations, including Sprouts Farmers Market and Whole Foods. Positioned as an alternative to traditional sports drinks, the brand has resonated strongly with women, who make up 70% of its customer base. Coco5 operates from headquarters in Chicago and Scottsdale, Arizona.