Fashion Entrepreneur Fund founder Sanjay Nigam launches fashion venture studio

The Fashion Entrepreneur Fund’s founder Sanjay Nigam has officially launched a fashion venture studio and plans to invest Rs 500 crore over the next five years to help emerging fashion entrepreneurs and foster an entire fashion ecosystem.

“During the Covid-19 pandemic, the fashion industry was overlooked in terms of financial support,” said the Fashion Entrepreneur Fund’s founder Sanjay Nigam in a press release. “We realised there was a need for an ecosystem offering both funding and mentorship to those in the fashion sector… Our goal is to guide fashion-preneurs to become leaders who can make a global impact. The passion and drive we’re seeing through regional representation is truly inspiring.”
 
During its first call for entry registrations, the fashion venture studio has attracted more than 25,000 applicants. Now in its second phase, the initiative aims to provide investment and mentorship opportunities.
 
“The Indian fashion industry, currently valued at $60 billion, is expected to reach $105 billion by 2025,” said the Fashion Entrepreneur Fund’s chairman Vagish Pathak. “However, there are very few funding or mentorship opportunities. FEF is here to fill that gap.”
 
The initiative includes teaching industry specific skills as well as business acumen. “Fashion is a huge industry, and with 4.5 crore fashion enthusiasts lacking funds, FEF is well-positioned to drive innovation,” said business magnate Ravi Jaipuria.