Nikhil Kamath, Co-founder of Zerodha, True Beacon and Gruhas, recently introduced the “WTF Fund” initiative. This fund aims to empower young entrepreneurs in the fashion, beauty and home brand sectors. It provides funding and mentorship to those under 22 years old who are looking to start their own brands.
Kamath said in his post on the social networking platform, “Introducing the #WTFFund! Young entrepreneurs under 22 years of age can now grab the opportunity to secure funding and receive mentorship in the home, fashion, beauty or lifestyle sectors from Ananth Narayanan, Raj Shamani, Kishore and myself.”
Nikhil Kamath, along with Kishore Biyani, Ananth Narayanan and Raj Shamani, has formed a prominent group to offer their support. They made this decision during the most recent episode of Nikhil Kamath’s podcast, ‘WTF is with Nikhil Kamath’.
He and three others decided to fund young entrepreneurs in industries like fashion and cosmetics who struggle to secure funding. Each of them invested Rs 20 lakh into a total fund size of Rs 80 lakh. They plan to select 10-15 companies through an application process and Zoom calls and expect to invest in two of them. This idea was inspired by the success story of Zepto, a company founded by Aadit Palecha and Kaivalya Vohra, who received a grant of Rs 40 lakh at the age of 18. Kamath himself has recently made significant investments in Nazara Technologies and plans to invest in Bluestone and Ather Energy.
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