YouWeCan Ventures, the investment company founded by cricketer Yuvraj Singh, has become a Limited Partner [LP] in a film and media-focused venture capital fund following investment of an undisclosed amount in the new investment vehicle.
The investment company, which started operations in April, will be an anchor investor in the Securities and Exchange Board of India-approved Media Fund, promoted by Mumbai-based DAR Media Private Limited, which has produced a number of critically and commercially acclaimed films such as The Lunchbox
This will be the early-stage investor’s first investment in a fund, a departure from its strategy of making direct investments in ventures.
Speaking about the association, Nishant Singhal, co-founder of YouWeCan Ventures said
We are fascinated with work done by DAR Group in Indian cinema space. We will be working with the fund to develop sports and youth-oriented genre for both domestic and international audience over the next five years.
The Rs 100-crore Media Fund, which has a green-shoe option of an additional Rs 100 crore, has already received commitments of Rs 60 crore, and will co-invest in projects. Yuvraj Singh will come on board as a director of the asset management firm.
Arun Rangachari, chairman, DAR Capital Group said
The Media Fund will not have an exposure to more than 25% of the total project. The fund will invest in 11 projects in its first round, and has already identified projects for its pipeline of investments.
Till date, YouWeCan Ventures has announced four investments in startups, including in Moovo, a Delhi-based on-demand logistics booking platform, Gurgaon-based online healthcare marketplace Healthians.com, education services marketplace EduKart and mobile app platform Vyomo
About YouWeCan Ventures
YouWeCan is a 50 CR seed fund that is created to empower young entrepreneurs on their journey to build brands and successful business ventures and improve the life standard of society. More information at their website.
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