Yuvraj Singh changes investment gear, set to pad up for snacks brand Twiddles

Sachin Tendulkar and Virat Kohli were some of the cricket superstars that were first off the blocks when it came to investing in startups.

However, Singh, known for fearless batting marked by a massive risk-appetite, became the only cricketer to launch a structured investment vehicle as early as 2015 for startups. “Coming back from cancer, it was important for me to give back to society, and health, education, and sports were the right areas for me to invest in."

YouWeCan Ventures has invested in over 12 startups since, including aviation startup JetSetGo, home beauty service Vyomo, a children-focused sports programme SportyBeans, an automotive services marketplace Cartisan, and an online healthcare marketplace Healthians.

“Of the many, one took off at the time, which was Healthians," he recalled.

Singh invested in Healthians back in 2015. He exited the business in 2022, clocking a return of over 100x. The cricketer did not share the exact details on his returns, but said that he still holds a minority shareholding in the company and endorses the brand.

Also read | Bigger than food delivery? Investors rush to bless faith-tech startups

But his investment journey hasn’t been without setbacks, with his financial bets on  startups such as co-working space company Creator's Gurukul, e-governance solutions startup Intelligent Interfaces and logistics startup Moovo turning sour as the companies shut down, causing him losses.

Wiser and older in his entrepreneurial journey now, Singh said that he is ready to take more calculated bets.

“Entrepreneurship is still a learning curve. As an entrepreneur, I wouldn’t call myself young—I’m middle-aged—but I’ve made my mistakes and taken my risks. Now, instead of investing in 5-7 startups, I’ll take my time and focus on one with potential. That’s going to be my strategy moving forward," Singh, who was named the Player of the Tournament for his exploits both with the bat and the ball in the 2011 Cricket World Cup , said.

Singh’s YouWeCan, which has previously pursued an aggressive investment strategy, will now slow down and move away from a fixed investment template. Instead, it plans to make more selective investments, carefully assessing its level of involvement on a case-by-case basis.

On 12 November, Singh will embark on this new approach by launching Twiddles, a healthy snacking brand, where he will serve as co-founder.

Taking a bigger bite with Twiddles

Singh will hold a double-digit minority shareholding in the company. Alfinity Studios will hold the majority stake in Twiddles, while the rest would be held by investors of Alfinity.

Also read | End of FOMO: Venture capital firms turn cautious over AI startup hype

The company, started in 2024 by Rishi Dewan and Kumar Gaurav, is in the process of raising funds from external investors.Twiddles’ parent company Alfinity, a venture vehicle and branding firm, collaborates with celebrities and influencers to launch consumer-facing brands.

While the company is focusing on Twiddles for the next six months, it plans to launch three more brands in the next year. “Our core is food and we want to do the first few brands in that and then eventually build a team that does the market research in different categories," Gaurav told Mint.

Twiddles is launching with four nut-based spreads, Almond Crumble, Walnut Brownie, Orange Noir, and Almond Silk, along with nut-based snackable bites in three variants - Almond Crumble Bite, Orange Noir Bites and Nuts & Dates Bites.

Going forward, it plans to also get into other categories like peanut butters.

Twiddles seeks to ride a booming health snacking industry

"The spreads market is challenging, as it primarily appeals to children who prioritize taste. Several companies have attempted to enter this segment but have struggled to gain lasting traction," said Zoeb Ali Khan, a founding member of Sauce.vc, an early-stage consumer fund. "The healthy snacking sector is also highly competitive, with numerous brands vying for attention. However, companies can carve out a niche only by optimizing for taste along with nutrition."

He added that Twiddles would benefit from an initial boost thanks to Yuvraj Singh’s brand recognition. However, sustained growth will depend on continuous innovation to drive long-term success. According to Twiddles, the spreads are made with up to 70% nuts and seeds, zero preservatives, 70% less sugar, and palm oil-free. “What might work for Twiddles is the positioning as a healthier alternative, especially cutting out palm oil," Khan said.

Also read | Young consumers spark rise of eco-friendly home, personal care products

The healthy snacking industry has recently surged in popularity, driven by health-conscious consumers. In India, brands like Snackible, Soulfull, Slurrp Farm, and Happilo have made their mark. Even legacy FMCG companies such as ITC have entered the space by acquiring Yoga Bar and launching new segments like Right Shift.

“It is a huge market and even with high competition, we are looking at white spaces and making our mark there. There are not many other good brands that offer healthy spreads and bites, we will focus on that and move forward," said Mohammed Sirajuddin, founding adviser for Alfinity Studios.

According to data from market research firm IMARC Group, the India snacks market size, which reached ₹42,694.9 crore in 2023, is expected to more than double to ₹95,521.8 crore by 2032, at a compund annual growth rate (CAGR) of 9.08% during 2024-2032.

“My knowledge in food and health really began at 31, when I came back from cancer and started focusing on my health. Now, the players representing India know what to eat. But this knowledge needs to reach schools and colleges too. Kids should know what they’re eating—that’s the whole point behind it," Singh said.

The company plans to focus on e-commerce, quick commerce and Twiddles' own website as distribution channels. Twiddles is live on Amazon and the company is also in talks to launch the products exclusively with a leading quick-commerce player.

Twiddles will target Indian metro cities, but also plans to take the brand global within a year. In Twiddles, while Alfinity will manage market research, manufacturing, marketing, distributing and scaling the brand, Yuvraj will drive growth as the face of the brand.

Investment philosophy

To be sure, Singh has done that for many of his other investments. “If I invest in a brand, I must be the face of it to drive its growth. It’s very important for me to represent and shape the brand. If I can’t put my face on it, then what’s the point," he said.

For Singh, Twiddles is the company where he is taking an operational role as a founder. The investment and shareholding, however, continue to be routed through YouWeCan Ventures.

“He understands all facets of the entrepreneurial journey, especially embracing failures. Healthians gave him a fantastic exit. However, many startups have also failed. He embraces failures and stands by the founders during difficult times," said Sirajuddin, who has been a part of Singh’s investment journey since 2018 and will continue to work with him at Twiddles.

Also read | Advice or capital? Boutique i-banks have both for startup clients

Even as Singh is sitting on returns on its other portfolio companies like private airline company JetSetGo, robotics startup Holoworld (earlier Holosuit), and health supplements startup Wellversed, his investment bets have seen a fair share of troubles during Covid-19. “You have to stand by people when they're down. When they're on the high, they don't need you to stand next to them. And I think that's how you make your relations," he said.

Singh also believes in taking a longer-term view on companies. “For any business proposition I get into, you must look at a three- to five-year plan. Let’s see if we can reach our goals in the next three years, and if we achieve that, we’ll aim for five," he added.