With several early-stage venture capital firms, such as Chiratae Ventures, Stellaris, WaterBridge, among others, announcing the closure of larger-than-expected funds last year, Jungle Ventures is also joining the list in 2022.
Singapore-based Jungle Ventures has raised $ 600 million to deepen its commitment to India and Southeast Asia. It also marked the final closure of the fourth fund for Southeast Asia and India, Fund IV, bringing total assets under Jungle Ventures to more than $ 1 billion. Funding includes $ 450 million in core fund IV and $ 150 million in additional managed commitments.
Breaking the $ 1 billion mark means that Jungle Ventures, which counts Indian unicorns like Moglix and Livspace as its investment companies, is the first Singapore-based independent VC company to invest in India and Southeast Asia to achieve the goal. More than 50% of the new fund’s total commitments come from existing investors, including Temasek, International Finance Corp (IFC), Dutch investor FMO and German development financial institution DEG.
In the future, the fourth fund will continue Jungle Ventures’ “concentrated portfolio” approach and aims to make about 15-18 key investments in India and Southeast Asia over the next 2-2.5 years. According to Amit Anand, founder of Jungle Ventures, 50% or more of the new fund could go to investing in Indian start-ups.
Fund IV’s ongoing investments include Timo Digital Bank, Sleek back-office operating system, Atomberg D2C consumer electronics player, Web3.0 social-crypto-community platform for women Eveworld and SaaS employee retention platform inFeedo.
The final closure of the fourth round puts it much higher than its original $ 350 million target corps. It is also a strong advance of $ 10 million, which the venture capital firm launched in its first fund, and today it has about 60 portfolio companies, with a value of more than $ 12 billion with a capital investment of $ 250 million. at a loss of less than 5%. If that’s not impressive enough, the venture capital firm has announced a unicorn in its portfolio every quarter for the past 12 months.
Founded by Amit Anand and Anurag Srivastava in 2012, Jungle Ventures was the first Singapore-based VC to invest in Southeast Asia and India. Today, his portfolio includes companies in various categories.
These include vertical e-commerce (Pomelo Fashion, Sociolla, Reddoorz), social commerce (Citymall, Evermos), fintech / insurTech (LeapFinance, Vayana, Turtlemint), B2B opportunity (Kiotviet, Deskera, Waresix), electric vehicles (Datbike) , SaaS (Builder.ai, BetterPlace) and brand aggregators / D2C brands (Believe, Hypefast).
In addition to Jungle, 2022 saw some high-level funds at an early stage, announcing the closure of much larger funds. Venture capital firms such as Arkham Ventures, Prime Venture Partners and Accel India have raised millions.