Investments, Startups

Jungle Ventures to Raise $100M Startup Fund to Invest in Asia

Singapore-based VC firm Jungle Ventures, which actively invests in India, is to secure $100 million in its second fund. This is ten times bigger in comparison to its pan-Asian angel fund of $10 million, which it raised in 2012.

The firm has already received $65 million from investors including Singapore’s Thakral Family, Temasek, and National Research Foundation of Singapore. The remaining amount will be raised by the firm in a couple of months.

As per a filing with US regulator SEC, the VC firm is also raising one more seed-stage fund of $20 million called SeedPlus Singapore which may be invested in companies who are looking to raise money prior to Series A funding round.

Initially, Jungle Ventures targeted early stage tech startups but with this fund, the firm is now looking to invest Series A and B round of funding in addition to seed funding. On an average, it plans to deploy this fund in around 15-20 companies with deals ranging from $3-$5 million each and in certain cases, even upward.

“There will be a significant increase in the check size with this new fund,” told Jungle Ventures Founder and Managing Partner Amit Anand to TechCrunch.The fund primarily focuses on startups related to enterprise software, financial technology, SaaS, and more.

The VC firm has received 50% ROI with last three exist from old funds. Last profitable exits include Zipdial, acquired by Twitter, ebus bought by IMD, and Travelmob acquired by Homeway. In India, the firm has made investments in Commeasure, a B2B platform helping hotels build their own booking engines and Social Audience Pvt. Ltd. which runs Tootitaki.

Most recently, Jungle Ventures made an investment in LivSpace, a home design and decor startup, F&B industry Mobikon, and Catchthatbus which is a Malaysia-based ticket-booking service.

The second fund news just comes after Golden Gate Ventures – a Singapore-based early stage venture capital firm announced $50 million fund for Southeast Asian startups. This is an indicator that Singapore startup scene is thriving, and investors are looking for cross border opportunities. And of course, more funds for Series A and Series B startups is a great news for tech startup founders in Southeast Asia and India.

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