Entrepreneur Ravi Jaipuria and actor Akshay Kumar have invested in the Fashion Entrepreneur Fund (FEF), which supports early-stage fashion startups with funding and mentorship. The fund aims to raise $3 million, but the specific amounts invested by Jaipuria and Kumar were not disclosed.
Ravi Jaipuria, chairman of RJ Corp, stated, “With fashion enthusiasts in India lacking funds, FEF can drive innovation and investment in the fashion landscape.”
FEF was founded by entrepreneurs Sanjay Nigam and Vagish Pathak. Current investors include film director Karan Johar, Gaurav Dalmia of the Dalmia group, and Naveen Jindal, chairman of Jindal Steel & Power.
RJ Corp, owned by Jaipuria, is PepsiCo’s second-largest bottler outside the US. The company also runs Devyani International Ltd (DIL), which operates over a thousand KFC, Pizza Hut, and Costa Coffee outlets in India, and has interests in healthcare and education businesses.
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