Jungle Ventures, one of Southeast Asia’s largest early-stage venture capital firms, closed its third fund, Jungle Ventures III by raising a total of $240 million. It includes $40 million raised in separately managed account commitments, for investments in innovative technology and digital-driven consumer businesses across Southeast Asia.
Investors range from endowments, funds of funds, and development financial institutions to strategic family offices and leading technology players. These include DEG, Germany’s development finance institution, IFC, a member of the World Bank Group and Bualuang Ventures, a corporate venture capital fund of Bangkok Bank. Dutch development bank FMO, Cisco Investments and Singapore’s Temasek are other investors in the fund.
“We continue to be focused on Southeast Asia and India. We take concentrated bets and are carefully looking for market-leading companies in India which have an opportunity to scale their business into Southeast Asia and globally,” said Jungle Ventures co-founder and managing partner Anurag Srivastava. “Seven of our early-stage investments from our second fund, Jungle Ventures II, have grown to over $2 billion in portfolio valuation, up more than 10-fold over the last 4 years. This is noteworthy because we make only 10 to 15 key investments in each fund and no single company is responsible for delivering a disproportionate share of this growth,” added Srivastava.
Jungle mainly invests in three verticals which include consumer brands for the digitally native, digital platforms for transforming small and medium enterprises and global technology companies born in Asia. Some of Jungle's notable investments in India include Livspace, Moglix, PaySense, Engineer.Ai, Tookitaki and Klinify.Jungle raised more than double the amount of its previous fund, Jungle Ventures II (2016), with nearly 60 per cent of committed capital coming from outside Asia...READ MORE
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