Good Fashion Fund invests in textile units in Tamil Nadu
The Good Fashion Fund (GFF), an impact investment fund set up in 2019 and managed by the Netherlands-based FOUNT, has invested $ 1.75 million in Coimbatore-based Sharadha Terry Products.
Jayanth Kashyap, investment lead of GFF, told The Hindu on Friday that so far four textile/apparel companies in India, including three in Tamil Nadu, had received almost $ 10 million dollars of long term debt investment from the GFF. The investments were primarily into environment or sustainability-related production technologies or renewable energy generation. The investment would be for a maximum of five years.
The GFF raised close to $ 20 million in the first phase and was raising the second phase funds now. It would start investing about $ 60 million by the end of 2025 or early 2026 in the textile and apparel sectors in India, Bangladesh, Vietnam and Turkey, he said.
'We will be making more investments in India as for us it is an important textile producer nation,' said Mr. Kashyap.
When ESG norms became mandatory for exports to the European Union, the supplier companies that had investments from the fund would benefit, he added.
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