Singaporean Jungle Ventures raises $600M for new fund

singaporean jungle ventures raises 600m for new fund

Jungle Ventures, a Singapore-based investment firm, has raised $600 million for a new fund focused on India and Southeast Asia alone.

The early and growth-stage venture capital firm scaled up the fund from an initial target of $350 million due to heavy demand from investors.

Jungle Ventures’ fourth fund totals $600 million. Almost $450 million is earmarked for new investments and $150 allocated for follow-up investments within its portfolio. The fund’s close brings Jungle Venture’s total assets under management to over $1 billion.

Fund IV’s limited partners are split equally between new and returning investors. New investors included StepStone Group, while returning investors included IFC, Temasek, FMO, and DEG.

Jungle Ventures was setup in 2012 by Anurag Srivastava and AmitAnand, launching with a $10 million debut fund. The venture capital firm has nearly 60 portfolio companies and reported its enterprise value at over $12 billion on $250 million of invested capital, with less than 5% loss ratio.

Some of Jungle Ventures’ most notable investments include unicorns Livspace, Moglix, and Krevido. It looks for companies that can expand between India and Southeast Asia. For example, Livspace was founded in India and now also operates in Southeast Asia.

Fund IV will continue Jungle Venture’s “concentrated portfolio” approach, making a projected 15-18 vital investments in Southeast Asia and India.