India’s sports training space has witnessed some deal action with cricketer Yuvraj Singh’s fund YouWeCan investing in SportyBeans, which runs sports programmes for kids. In another development in the same sector, SportzVillage has raised $10 million from Gaja Capital.
YouWeCan picks up stake in SportyBeans
SportyBeans, a startup running sports programmes for kids, has received an undisclosed amount of investment from YouWeCan, the fund started by Indian cricketer Yuvraj Singh.
SportyBeans has 35 centres in 17 Indian cities. Singh’s stake is about 15 per cent, and this is his ninth investment since April, when he floated the fund. He plans to make investments worth Rs 50 crore ($7.7 million) over five years and beef up the fund to Rs 300 crore ($46 million) in the same time.
SportyBeans’ director Karan Sareen said, the company is looking to raise about $8-10 million to finance its expansion plans.
Singh, who was part of the world cup winning team in 2011, was the highest paid player in the Indian Premier League last season, where he played for Delhi Daredevils. He has been out of the international team since 2012.
Gaja Capital invests $10 million in SportzVillage
Co-founded by Saumil Majumdar and Gopal Jain five years ago, the company is registered as Junior Sports and Services Pvt Ltd., and has three businesses, which includes SportzConsult, a sports management company with corporate clients and EduSports, which works with schools to design physical education programs.
This is Gaja Capital’s second investment from its third fund that has a corpus of $250 million. It has previously invested in staffing firm TeamLease, which recently filed for an initial public offering, and CL Educate, a training services company.