By Nicole Formosa TORRANCE, CA—Similar to many small startups, Niner Bikes co-founder Chris Sugai squeezed everything he had to get his new company off the ground in 2005. Through personal capital, investments from friends and family, and two minority investors he concocted a recipe that carried him through the initial growth phases. But as the 29er movement caught on and sales took off, it became clear he would need more cash to mature.

By Nicole Formosa TORRANCE, CA—Similar to many small startups, Niner Bikes co-founder Chris Sugai squeezed everything he had to get his new company off the ground in 2005. Through personal capital, investments from friends and family, and two minority investors he concocted a recipe that carried him through the initial growth phases. But as the 29er movement caught on and sales took off, it became clear he would need more cash to mature