Jungle Ventures raises $225 million to invest in India, Southeast Asia startups
Jungle Ventures raised $225 million in the first close of its fourth fund, as the VC firm looks to replicate its startup success in Southeast Asia and India.
![Jungle Ventures raises $225 million to invest in India, Southeast Asia startups](https://startuptimes.net/uploads/images/202109/image_750x_6142f21263f17.jpg)
In an interview, founding partner Amit Anand said that many of the previous fund's existing investors backed the new one. Temasek Holdings Pte, International Financing Corporation, and DEG, a German development finance agency, are among them. The new fund is expected to be $350 million in size.
In Southeast Asia and India, where the tech industry is booming, there has been a rush of fundraising operations and initial public offerings. Jungle Ventures has grown to become one of the fastest-growing local VC companies in the city-state, with assets under management of almost $600 million since opening its first early-stage fund in 2012.
Anand said, "We've coined two unicorns this year where we were seed-to-IPO investors." “We have created a franchise that will repeat quarter after quarter, which distinguishes us from one-hit-wonder venture capitalists.”
Jungle Ventures, based in Singapore, was an early and constant supporter of both Kredivo, which grew to become Indonesia's largest consumer lending app, and Moglix, a business-to-business e-commerce platform. FinAccel, Kredivo's parent company, agreed to go public in the United States in August through a combination with a blank-check firm valued at $2.5 billion.
Other notable Jungle Ventures investments include Livspace, a home-interior platform, Sociolla, a beauty e-commerce operator, and Pomelo, a Southeast Asian women's apparel shop.