September 18, 2021

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

Jungle Ventures raises 5 mn to invest in India, Southeast Asia startups 


Independent venture capital firm Jungle Ventures has raised $225 million to invest in startups across Southeast Asia and India. Many of its existing investors have backed the VC firm in the latest round of funding, including Temasek Holdings Pte, International Finance Corp. and German development finance institution DEG.

Founding partner Amit Anand said in an interview that the new fund has a planned size of $350 million, as mentioned in a report in Bloomberg.

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

This funding round comes as India sees unprecedented fundraising activities as well as initial public offerings amid a boom year for the tech industry.

Jungle Ventures that launched its first early-stage fund in 2012 is one of the fastest-growing local VC firms in Singapore. It has assets of about $600 million under management. It was an early backer of business-to-business e-commerce platform Moglix and Indonesia’s largest consumer lending app, Kredivo, home-interior platform Livspace, fashion retailer Pomelo and beauty e-commerce platform Sociolla.

Also read: Zoho invests $5 mn in medical devices startup, eyes larger play in Indian healthcare
Also read: Curefoods raises $13 mn from Iron Pillar, Binny Bansal, others

 

Doonited Affiliated: Syndicate News Hunt

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