Universal Sportsbiz looks to raise Rs 100 crore

MUMBAI: Sachin Tendulkar-backed celebrity fashion company Universal Sportsbiz (USPL) is in talks with multiple private equity and venture capital firms to raise $15 million (Rs 100 crore) in Series C funding to accelerate its growth plans. USPL is among the few home-grown companies with a significant presence in the multi-billion dollar celebrity fashion lines business.

"We are in the market talking to multiple players to raise $15 million in Series C," Anjana Reddy, founder of USPL, told ET. "We are hopeful to close the round by end of this year." Founded in April 2012, USPL's portfolio includes Wrogn, a premier fashion brand inspired by Virat Kohli, and Imara, a contemporary women's ethnic fashion brand with Shraddha Kapoor.