DFX Corp Acquires MycoWorks to Boost Fine Mycelium Leather Scale-Up

DFX Corp has acquired MycoWorks in a deal announced in a PRWeb release dated Jan 30, 2026, committing to “strategic restructuring, accelerated growth, and scaling Fine Mycelium™ as a leading sustainable materials technology for global brands and innovators.” The move positions MycoWorks to shift from lab-scale innovation toward commercialisation of its trademarked Fine Mycelium platform and Reishi™ product line out of Denver.

DFX’s involvement is being driven by Daniel Frydenlund, described in coverage as a veteran buyout expert with past roles at Gores Group, Centennial Funds, Stage Fund, and Sturm Group. Frydenlund’s profile signals private equity-style operational discipline will be applied to a company that many in the sector view as a pioneer in mushroom-derived materials.

MycoWorks, founded in 2013 and known for Fine Mycelium™ and Reishi™, has long pitched its materials as an alternative to animal leather and petroleum-based synthetics for luxury fashion and design. The company framed the acquisition as “a powerful vote of confidence in Fine Mycelium™ and a renewed commitment to scaling its impact worldwide,” language preserved from MycoWorks’ own announcement and underscoring its positioning around craft and quality.

Leadership continuity is central to the deal. PRWeb states that “Maud Ohler will steward MycoWorks’ Fine Mycelium™ technology in this next phase of development and commercialization, expanding upon her role as Senior Vice President of Technology.” Co-founders Philip Ross and Sophia Wang will remain involved in guidance roles; Ross wrote on LinkedIn, “In partnership with our new private equity partner, DFX Corporation, MycoWorks is undergoing a necessary sea change in its leadership and operations. It is our honour to continue helping to steer this next stage of growth, just as we have from the very beginning.”

Financial framing in coverage repeatedly uses a $300 million figure. PRWeb describes MycoWorks as “a $300 million global brand,” and MycoStories adds that MycoWorks “raised over $300 million since its inception.” Specific purchase price and deal structure were not disclosed; WorldBioMarketInsights explicitly notes “specific financial terms were not disclosed.”

Operationally, the takeover follows a recent contraction: MycoStories reports the acquisition comes after “the closing of their South Carolina facility in November of last year,” a move that highlights the scaling challenges biomaterials firms face when trying to compete on cost and volume. Industry coverage from MycoStories and WorldBioMarketInsights frames the DFX transaction as part consolidation and part restructuring, with the intent to marry technological development to financial sustainability.

Environmental context explains why brands still care: GreenQueen’s coverage reminds readers that conventional leather production is energy and water intensive and tied to deforestation, while synthetic leather is plastic-based and long-lived in the environment. That pressure keeps the market for mycelium-derived leathers like Reishi™ active, but the obvious question now is execution.

Key unknowns remain visible in the public record: no purchase price, no timelines for capacity ramp, and no direct quotes from DFX or Daniel Frydenlund in the disclosed coverage. If DFX can translate buyout muscle into predictable, scaled output without sacrificing the “craft, artistry, and quality” MycoWorks promises, Reishi could finally move from runway prototypes into supply chains for luxury brands; if not, the sector’s consolidation may be just another chapter in a long run of high-concept materials that never cleared the factory gate.