Yuvraj Singh, the Indian Premier League’s costliest player this season, is starting a new innings as a businessman. He is floating a venture fund that aims to support young entrepreneurs by investing in startups across sectors.Yuvi for millions of his fans, the 34-year-old cricketer will put about Rs 50 crore – mostly his own money – over a period of three to five years in the fund, YouWeCan Ventures. The fund is expected to raise around Rs 300 crore from other investors.YouWeCan Plans to invest Rs. 40-50crore in online start-ups in the healthcare, travel, hospitality, real estate and media sectors in the next three-five years.” 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,” said Nishant Singhal, co-founder of YouWeCan Ventures. Singh, a CA who has worked with consulting firm PWC, has been Singh’s business advisor since 2010.
With this start-up fund, Yuvi wants to help young entrepreneurs expand their businesses and plans to invest Rs 40-50 crore in the next 3-5 years. While he is concentrating on his game, he believes e-commerce is a great business opportunity.
The cricketer failed to find a place in the Indian team that played the February-March World Cup. Delhi Daredevils paid Rs. 16crore to get Singh to play in the 8th edition of IPL. He played for KingsXI Punjab, Pune Warriors and Royal Challengers Bangalore franchises in the past seasons.
YouWeCan Ventures have already put together a team of that will help startups in technology, financial, marketing among other business aspects. “We will handheld them from seed capital to their series A funding,” Singhal said, adding that the investments will have exit clauses of at least five-eight years.