London-based investment firm Forward Investment Partners joined other private equity firms in the USD 2.8 million seed funding round for fashion knitwear company Wool and the Gang. Index Ventures, Wellington Partners and MMC Ventures also provided support for the global fashion brand that handcrafts or knits unique items. Some of Wool and the Gang's products include capes and jackets, dresses, skirts and shorts.
Proceeds from the fundraising would be used by London-based Wool and the Gang to grow and develop its fast-growing brand. It would also use part of the proceeds to launch its Gang Collection. It would also use the investment to expand to existing markets in the UK, Europe, Japan and America.
Forward Investment Partners Managing Partner Nic Brisbourne said they were excited at their new investment. He said Wool and the Gang had a great management team. He added, "[Wool and the Gang's] community based manufacturing model gives us strong economics and unbridled scope for personalisation and other product enhancements." Other investments made by the London-based private equity firm include Hailo, Zopa and BlikBook.
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