New Delhi, April 7: Yuvraj Singh, IPL's costliest player this season, is set to start a new inning as a businessman.
The 34-year-old all rounder is floating a new business venture, ‘YouWeCan' which aims to support young entrepreneurs by investing in start-ups across sectors.
Yuvraj will invest Rs 50 crore, mostly is money, over a period of three to five years in the ventures fund.
The fund is expected to raise around INR 300 crore from other investors during the period.
"I had been thinking about this for four-five years. 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," Singh was quoted as saying in ET report.
YouWeCan Ventures will mainly fund startups in sports products, healthcare, travel and tourism, services and fashion, e-commerce and hospitality. The plan is to offer seed capital ranging from INR 10 lakh to INR 25 lakh.
The left-handed all-rounder is the costliest player in the Indian Premier League. Delhi Daredevils bought him for a whopping Rs 16 crore from Royal Challengers Bangalore, who had paid 14 crore last season.