Jungle Ventures raises $225 million to invest in Startup across India & Southeast Asia
In an interview, founding partner Amit Anand indicated that many of the prior fund's existing investors endorsed 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 been one of the fastest-growing local VC companies in the city-state, with assets under management of around $600 million, since opening its first early-stage fund in 2012.
“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."
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, decided in August to go public in the United States through a merger 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.