Jungle Ventures, a venture capital firm, has raised $600 million for the final closing of its fourth fund.
A senior company official said the funding includes $450 million in Core Fund IV and $150 million in additional managed commitments, one of the largest pools of capital available in the region.
These funds have backed companies such as Livspace, Moglix and CityMall that have more than $1 billion in total assets under management (AUM).
These funds, which were set to raise $350 million, were later oversubscribed and exercised the green shoe option to raise more capital.
The Singapore-based Jungle Ventures was founded in 2012 by Amit Anand and Anurag Srivastava, It is a global venture capital firm that provides early-stage investment and business building infrastructure to startups.
Its focus is on early-stage investments in Singapore, India, Southeast Asia and other regional innovation hubs.
“Around $450 million has come in to be invested in new companies and $150 million will go towards follow-on investments in backing a winner Portfolio”, said, Amit Anand, founding Partner, Jungle Ventures.
Amit Anand also said that existing backers of the firm have doubled down on their investments by cutting around 50% in new funds, while the rest have come from a new group of investors, including Mizuho Bank, StepStone Capital, Sovereign Wealth Fund, and global family offices.
Existing investors in Jungle Ventures include Temasek, IFC, FMO, and DEG.
“India is likely to contribute 50 percent of the deal flow. And in its last vintage fund, about 35% of the capital flowed into India”, he added.
“We expect to deploy the new fund over the next 2-2.5 years. We will look to back around 15-18 companies. A larger fund helps us support our portfolio companies with more capital across multiple rounds,” Amit added.
The firm has already invested 10% of the funds from the new fund in six companies.
These backed companies Including Timo, Sleek, Atomberg, Medici,Desty, Eveworld, Mio and in Feedo.
Some of the firm’s past portfolio companies include Credivo, Livspace and Moglix, Better Place, Citymall, LeapFinance, Turtlemint, etc. In September 2021, Jungle Ventures had raised $225 million in the first close of its fourth fund from existing investors, including Temasek Holdings Pte, International Finance Corporation and German development finance institution DEG.
About Jungle Ventures
They started Jungle in 2012 with the goal of creating a different kind of venture capital firm, by not trying to be everything to everyone. They have done this by focusing on fewer investments than our peers and only targeting entrepreneurs who have ambitions to build regional if not global category leaders.
They also invested in building a team that has more than 100 years of actual operating experience and diverse networks in the region, with a deep commitment to helping the few entrepreneurs that we back every year. This has helped their founders be more effective at early stages with Jungle providing steady access to longer term capital and relevant market expansion expertise.
Jungle invests in three macro themes- digital brands serving the young consumers of Asia, technology platforms that help Asian SME’s adopt technology and disruptive technology ideas with global potential. They are proud to have been the earliest backers of companies such as Livspace, Reddoorz, Pomelo, Kredivo, TookiTaki, Deskera, Sociolla amongst others.