Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Livemint
Livemint
Business

Jungle Ventures raises $225 million to invest in India, Southeast Asia startups

Jungle Ventures has become one of the fastest-growing local VC firms in the city-state with assets under management of about $600 million (iStock)

Jungle Ventures raised $225 million in the first close of its fourth fund as the venture capital firm seeks to replicate its successes in startups across Southeast Asia and India.

Many of its existing investors in previous funds backed the latest one, founding partner Amit Anand said in an interview. They include Temasek Holdings Pte, International Finance Corp. and German development finance institution DEG. The new fund has a planned size of $350 million.

There has been a flurry of fundraising activities and initial public offerings in Southeast Asia and India, where the tech industry is having a boom year. Since launching its first early-stage fund in 2012, Jungle Ventures has become one of the fastest-growing local VC firms in the city-state with assets under management of about $600 million.  

“We have coined two unicorns this year where we have been seed-to-IPO investors," Anand said. “We have built a franchise that will repeat quarter after quarter, and that separates us from the one-hit wonder venture-capital providers." 

Singapore-based Jungle Ventures has been an early and consistent backer of Kredivo, which went on to become Indonesia’s largest consumer lending app, as well as business-to-business e-commerce platform Moglix. 

Kredivo’s parent, FinAccel, in August agreed to go public in the U.S. through a merger with a blank-check firm that values the combined entity at $2.5 billion. Other noteworthy Jungle Ventures investments include home-interior platform Livspace, beauty e-commerce operator Sociolla and Pomelo, a women’s fashion retailer in Southeast Asia. 

 

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.