Inc42 Daily Brief
Stay Ahead With Daily News & Analysis on India’s Tech & Startup Economy
Cricketer Yuvraj Singh’s investment fund YouWeCan Ventures, is planning to start an incubator. The company said the first two arms of the incubator will be set up in Gurgaon and Bangalore.
The reason to start the incubator is to tap into a nascent community of entrepreneurs that had no access to angel investors.
Nishant Singhal, co-founder and director of YouWeCan Ventures said, “We want to be a 360 degree fund. Usually, you see funds taking a step up and trying to invest in larger ticket sizes. We want to take a step back and get in on the ground floor (continued). There are just 4,000 angels in the country. There is a need for more incubators. Someone to help entrepreneurs prepare a product.”
The fund will start with providing office space, internet connections and mentors. It will give fledgling companies access to top-end law firms. The company that is currently leveraging Yuvraj’s brand to create a mentor network will include Vijay Shekhar Sharma of Paytm and Rahul Yadav, co-founder and former CEO of Housing.com.
YouWeCan typically funds companies with an established product. With the launch of an incubator, the company wants to help make products that would be country-independent and could be scaled up faster. Currently, the firm is looking forward to invest in 30 companies in the upcoming months, and is aiming at a portfolio of 70 firms by the end of FY17.
YouWeCan Ventures Technology LLP was launched in 2015 to support online startups and encourage entrepreneurship. At the time of inception, it had plans to invest over INR 50 Cr. in startups involved in healthcare, travel, hospitality, real estate and media sectors over the period of 3-5 years.
In April 2015, YouWeCan sealed its first investment in mobile phone-based beauty and wellness platform Vyomo. The investment portfolio of the venture includes Edukart, automotive service marketplace- Cartisan, JetSetGo, Mumbai-based brand licensing startup Black White Orange Brands, etc.
Note: We at Inc42 take our ethics very seriously. More information about it can be found here.