British Fashion Council invests in adaptive intimates and the metaverse in new fund

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The British Fashion Council (BFC) is taking a more active role in boosting financial support for emerging global brands and businesses via a new fashion fund. The first to receive backing are an adaptive intimate brand Intimately; metaverse space and marketplace, Digital Village; and Vollebak, a science-meets-tech men’s outdoor clothing brand.

The BFC has teamed up with UK-based venture capital firm Venrex to launch Venrex BFC Fashion I, an investment fund for small businesses starting out in the fashion industry. Venrex is providing the funds for investments, while the BFC receives fees and a portion of the carry.

Intimately received $ 1 million in funding led by BFC and Venrex; Digital Village received $ 600,000; and Vollebak declined to disclose figures. The founders say they will use the investment to build and scale their brands.

The goal is to create a better fashion ecosystem while helping young and emerging brands develop. “It’s a fund with purpose,” says BFC chair Stephanie Phair. “There’s a circularity to it. Investors are coming in for profit, to be a part of the growth of this industry, but a part of those fees is then reinvested back into the design sector. “

The BFC will reinvest its fees back into the fashion sector through its existing initiatives, such as the BFC Vogue Fashion Fund and the BFC New Gen partnership with TikTok. This fund will support seed, early stage, or growth stage businesses.

Vollebak says the investment will go towards research and development, a key aspect of the brand’s USP. The British brand is combining science and technology to create new materials and clothing. Last year, it designed garments for crew traveling to Mars. “This takes a lot of time and costs a lot of money,” says co-founder Steve Tidball. “Creating new ideas, new processes and new materials is expensive and complicated. There’s no way around it. “

US-based company Intimately is using the investment to expand its team and create a digital platform for disabled women to interact. “We’re building out the team, creating this accessible app for both community and shopping, and then working on patents for our new fastening technology,” says founder Emma Butler.

Intimately, an adaptive intimates brand and marketplace.

Intimately

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