Singapore based Venture Capital (VC) firm, Jungle Ventures, that invests in and helps build tech category leaders from Asia, has received commitments of around $175 million for its third VC fund, said a report by Livemint.
According to the report, about 90% of the $175 million of third VC fund, which may increase to $220 million, came from institutional investors in North America, Europe, the Middle East and Asia, which include International Finance Corporation (IFC) of World Bank group, DEG – Deutsche Investitions, Germany, Cisco Investments, and Temasek Holdings among others.
Jungle Ventures, which has recently invested in Singapore’s TookiTaki, has raised a total of $275 Mn across two VC funds. The third, Jungle Ventures III, was announced in December last year.
Founded in 2012, by Anurag Srivastava (IIM-Calcutta) and Amit Anand (IIT-Kanpur), Jungle Ventures invests in technology and e-commerce start-ups in India and south-east Asia. The firm later on-boarrrded Jayesh Parekh, the co-founder of Sony Entertainment Television, and David Gowdey, the former operating partner at private equity firm TPG Growth. In July last year, Grace Xia, Tencent’s former senior director of strategy & development, joined Jungle Ventures as a principal.
From its third fund, Jungle Ventures has already made 5 new investments where it led Series A & Series B rounds, said the report. Each year, the firm invests in around 10-15 tech startups and software companies, specifically across Series A and B rounds.
In India, some of the recent investments of Jungle ventures include Livspace, Paysense, Moglix and Klinify among others. The funds’ last 8 investments globally in Southeast Asia have collectively reached over $500 Mn.