The fund will back young entrepreneurs working in the beauty, home, fashion and lifestyle segments
The move comes as Kamath and Abhijit Pai's venture capital firm Gruhas recently launched a startup fund to invest in consumer-facing brands and products
For now, eligible entrepreneurs can apply to be a part of the WTF Fund programme, which is accepting entries till October 16, 2023
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Zerodha cofounder Nikhil Kamath has introduced a funding and mentorship programme for entrepreneurs under the age of 22, the WTF Fund. The fund will back young entrepreneurs working in the beauty, home, fashion and lifestyle segments.
“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…,” said Kamath in a social media post.
For now, eligible entrepreneurs can apply to be a part of the WTF Fund programme, which is accepting entries till October 16, 2023. The Nikhil Kamath-led programme will then shortlist two startups who will receive a fund of INR 40 Lakhs each.
During the latest episode in his podcast, where he talked about how to build a brand in the segments mentioned, Kamath said, “These guys [entrepreneurs aged under 22] typically find it much harder to raise funding. They’re in the journey of 0 to 1 essentially.”
The podcast episode featured Ananth Narayanan, founder of Mensa Brands, Kishore Biyani, founder of Future Group and Raj Shamani, founder of House of X. Along with Kamath, the three guests will also be making investments worth INR 10 Lakh each in the winning startups.
The move comes as Kamath and Abhijit Pai’s venture capital firm Gruhas recently launched a startup fund to invest in consumer-facing brands and products with Collective Artists Network. The fund will invest up to a million dollars in its typical investment and will have around 10 startups in its portfolio.
The Zerodha cofounder has also been making moves to acquire stakes across the startup ecosystem. Over the past few months, he has acquired a stake in the electric vehicles maker Ather Energy and the listed gaming unicorn Nazara Technologies. Earlier this year, Kamath had also invested in the green hydrogen startup Ossus Biorenewables.
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