The news that Alexander Wang is officially moving on from his three-year tenure at the creative helm of Balenciaga broke last week (read all about it here), but the reason for the separation is still undisclosed. Now it seems that the New York based edgy designer, is close to securing an investor for his namesake label.

According to inside sources, Wang has been in discussion with General Atlantic, the New York-based growth equity firm that is headed by chief executive officer William Ford, possibly negotiating an investment deal. Details of how much equity is up for sale and for how much, is still under-wraps. 

General Atlantic would be a good fit for Wang, with Ford's experience, who serves on the boards of several portfolio companies including Tory Burch, Oak Hill Advisors and Markit. In addition to Burch, General Atlantic's portfolio companies include Gilt Groupe, Too Faced, Airbnb, Vox Media, BuzzFeed and the Alibaba Group.

Stay tuned to Buro 24/7 Middle East for the latest on this story as it develops...