Inspiring sportsman, cancer survivor and now venture capitalist, Yuvraj Singh aims to fund India's next internet success story.
Yuvraj Singh, one of India's most in-the-news sportspersons has done something that no Indian celebrity has ever done. He has turned angel investor, floating a $10 million fund early April with the ambition of fostering the next generation of internet entrepreneurs.
The 33-year-old cricketer, who fought cancer to make a successful comeback to the game a couple of years ago and was the highest paid player at $2.5 million in this season's Indian Premier League, told CNBC in a telephone interview, "I have always been somebody who has not been afraid to take risks. To make India a better place you have to take a chance."
Betting your money on unknown enterprises that have nothing to do with cricket is a big risk given the fact that his YouWeCan Ventures will be competing with other venture capitalists with years of domain experience that are already flooding India. But Singh has spotted an opportunity that could well be the next big thing for him after cricket.
The country's start-up industry – especially in the internet space – has seen stupendous growth in the past five years, making India the fourth-largest start-up hub in the world with 3,100 new businesses according to the government's 2014-2015 annual Economic Survey. And with 40 percent of India's over a billion population expected to have access to the internet in the next seven years, the potential of this space seems limitless.