Private Equity

Other Private Equity/Strategic Investments

Prosus in talks to invest in ex-Myntra CEO Amar Nagaram's fashion co Virgio

Economic Times  

Prosus Ventures, the venture investment arm of Prosus (formerly Naspers) is in talks to join the funding round of the new venture of former Myntra CEO Amar Nagaram. Nagaram's new venture - a fast fashion platform for Gen Z - is likely to be valued at USD 150-160 million after the investment. The venture is expected to be launched later this month and will be named Virgio, to be housed under Ameyam Enterprises. Currently, the app is in beta testing with users being put on a waitlist before a formal launch. Alpha Wave (formerly Falcon Edge) and Accel are reported to have finalised their USD 25-30 million investment in the company at USD 100 million valuation. Mukesh Bansal, founder of Cultfit and president at Tata Digital is also an investor in the firm.