Bahrain’s alternative asset manager Investcorp has led a $11.2-million investment in Indian startup Bewakoof.com.

Investcorp will hold 14 per cent equity and a board seat in Bewakoof – a direct to consumer online apparel firm. The startup said that the move in line with its strategy to tap into sustainable business models in the mass consumption-driven Indian market.

IndigoEdge was the advisor to Bewakoof.com for the deal.

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Investcorp raised INR 1,000 crore in its maiden India-focused private equity fund. The new fund targets investment opportunities across three key sectors – mass-market consumer, financial services and healthcare. Other than Bewakoof.com, the fund has so far invested in four companies — Incred, ASG, Zolo and Citykart, Investcorp said in a statement.

Founded by Prabhkiran Singh and Siddharth Munot in 2011, Bewakoof.com focuses on providing creative and distinctive fashion at affordable prices online. It has delivered sales of more than 650,000 products per month with a customer base of over 4 million, who often make repeat purchases.

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“We are pleased to have Investcorp on board with us as we gear-up for the next exciting stage of our journey. At Bewakoof.com, the customer is at the centre of everything we do, and we remain committed to providing quality and creative fashion to the youth at an unmatched value. Having grown significantly in the last couple of years, we will continue investing in improving the customer experience through technological innovation and focusing on talent acquisition,” said Prabhkiran Singh, Co-Founder and Director of Bewakoof.

“Bewakoof.com has an impressive team led by its founders Prabhkiran and Siddharth. They offer exceptional products, with a focus on innovation, affordability, capital efficiency and bottom-line contribution. All these factors make us believe that Bewakoof.com is a unique company amongst Indian digital consumer brands. We look forward to this partnership and towards seeking to crystallize the founders’ vision to create a formidable Indian apparel brand,” said Gaurav Sharma, Co-Head of Private Equity at Investcorp.

Investcorp manages over US $28 billion globally and at its core is a mid-market investment specialist. The private equity business of Investcorp has close to 40 years of mid-market investing experience across the North America, Europe and the MENA region with more than US $36 billion of transaction value in almost 200 investments across retail, consumer products, technology, business services and industrials.