New York designer Alexander Wang took home the highly coveted top prize at the fifth annual awards from the CFDA/Vogue Fashion Fund on Monday night. The runners-up were Lisa Mayock and Sophie Buhai of Vena Cava and Albertus Q. Swanepoel. Founded in 2003, the CFDA/Vogue Fashion Fund has been helping emerging American designers to establish their business in fashion. The awards put the winner and runners-up in touch with a team of business mentors specifically picked to meet the needs of each designer. The winner also receives a cash prize of $200,000, while runners-up get $50,000. This year, 145 individual design businesses requested applications. This year’s 10 finalists included Albertus Q. Swanepoel, Alejandro Ingelmo, Alexander Wang, Irene Neuwirth, Jason Wu, Juan Carlos Obando, Obedient Sons & Daughterss, Organic, Richard Chai and Vena Cava. Previous recipients from the Fund include Derek Lam, Proenza Schouler, Doo-Ri Chung, Rogan Gregory and Rodarte.