Nikhil Kamath launches WTF Fund to back young D2C founders in fashion, beauty, home

Zerodha co-founder Nikhil Kamath has launched the WTF Fund to back young Indian entrepreneurs building D2C brands across fashion, beauty, and home. Inspired by Zepto's founders, the fund targets early-stage brand-builders who need capital to compete in crowded consumer categories.

— FiledFri, 26 Jun, 2026, 19:43 IST·First seen Fri, 26 Jun, 2026, 19:42 IST·Source Moneycontrol · News Web

What happened

Nikhil Kamath launched the WTF Fund to back young Indian entrepreneurs building D2C brands in fashion, beauty, and home categories, inspired by Zepto's

Why this matters

A fresh crop of WTF-backed D2C brands in fashion, beauty, and home will mature into acquisition targets in 18-36 months—start mapping the pipeline and building founder relationships early.

What to watch

  • First public portfolio announcements and cheque sizes
  • Follow-on raises by WTF portfolio companies within 9-12 months
  • Competing fund launches targeting same D2C early-stage gap
  • Kamath public commentary on unit economics expectations
  • Zepto founders' formal involvement as mentors or co-investors
  • Map first 3-5 WTF Fund cheques to identify category preference (fashion vs beauty vs home) and cheque-size band
  • Track which existing D2C accelerators/angels co-invest alongside Kamath to gauge syndicate formation
  • Watch for portfolio brands' quick-commerce vs own-site channel mix as a thesis tell
  • Benchmark against Mensa/GlobalBees roll-up era — is this a return to brand-building or a new playbook?

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