Yuvraj Singh, one of India’s most stylish and flamboyant cricketers, has now ventured out into helping startups. He has launched a new investment company named YouWeCan Ventures Technology LLP with an aim to support online start-ups and encourage entrepreneurship.
The company is planning to invest around Rs. 40 – 50 crores in the next three to five years into different sectors, including healthcare, hospitality, travel, real estate, sports, fashion and media. Yuvraj will put his own money in the fund as of now but it will raise about Rs. 300 crore from other investors in coming years.
YouWeCan Ventures is currently run by a six-member team which includes Chartered Accountants, technology experts and management consultants. The company will provide an initial seed fund of Rs.10-25 lakh per transaction to young entrepreneurs. The investments will have exit clauses of at least five-eight years.
Commenting on his new venture fund, Yuvraj Singh, said,
There are a lot of young entrepreneurs with great high-potential ideas and I plan to invest in these startups, to build their brands and companies
Nishant Singhal, co-founder of YouWeCan Ventures, said,
Lots of young entrepreneurs had been approaching Yuvraj Singh for various online start-ups, seeking his support. Although he was watching the market closely, he wanted a professional team to be set in place.
Singhal also said that friends and associates of Yuvraj, including those who will play for Delhi Daredevils in IPL this year have committed to make investments in YouWeCan Ventures.
The company is currently in advanced talks with four to five start-ups for investment. It is expected to announce its first investment by June 2015.
Cricketers are among the wealthiest sportspersons in India. Many cricketers like MS Dhoni, Sachin Tendulkar and Robin Utthappa have invested money they earned while playing or endorsing brands in businesses but no one has jumped into venture funding. In fact, MS Dhoni is currently the only cricketer who features in Forbes list of wealthiest sportspersons across the globe
Yuvraj Singh has endorsed many brands like Puma, Reebok, Hero MotoCorp, Oakley, etc. Recently, Delhi Daredevils, a team in IPL has paid Rs. 16 crore to Yuvraj to get him play for the team in the eight edition of Indian Premier League.