Diversified entrepreneur Ravi Jaipuria and actor Akshay Kumar have invested in Fashion Entrepreneur Fund (FEF), a platform that provides early stage investments and mentorship to fashion entrepreneurs, FEF said in a press statement on Friday.
The fund is being set up on a corpus of $ 3 million, according to the platform. The statement did not specify the exact quantum of investments being infused by Jaipuria and Kumar.
“With fashion enthusiasts in India lacking funds, FEF can drive innovation and investment in the fashion landscape,” Ravi Jaipuria, chairman of RJ Corp, said in the statement.
Set up by entrepreneurs Sanjay Nigam and Vagish Pathak, the FEF’s existing investors include film director Karan Johar, Dalmia group chairman Gaurav Dalmia and Naveen Jindal, chairman of Jindal Steel & Power.
RJ Corp, which owns the listed Varun Beverages Ltd (VBL), is PepsiCo’s second largest bottler in the world outside the US. It also operates Devyani International Ltd (DIL), operator of thousand-plus KFC, Pizza Hut and Costa Coffee stores in India, besides healthcare and education businesses.
