Jungle Ventures, the Singapore-based early stage venture capital fund, has closed its second fund at $100 Mn. The funding saw participation from Temasek Holdings, International Finance Corporation, National Research Foundation of Singapore, Hubert Burda Media, as well as family office investors such as the Kewalram Chanrai Group and Khoon Hong Kuok.
Jungle Ventures is a Singapore-based venture firm, founded in 2012, that invests and helps build tech category leaders from Asia. It makes investments across all early stages of startups and has investments in Singapore, Indonesia, India and other hotbeds of entrepreneurial activity in South Asian region. The companay has stated that the new fund is 10 times larger than Jungle’s first fund, raised in 2012 – and has established it as one of the largest early stage venture capital (VC) firms in the region.
Jungle ventures is amongst the few VCs to have successfully exited companies via M&A to global brands such as Twitter, HomeAway, Rakuten and Shopclues. They believes that M&A’s will continue to dominate the exit landscape in the region.The newely closed fund will largely target Series A and select Series B investments primarily in Southeast Asia, as well as, businesses in India and Australia particularly where such businesses may benefit from expansion into Southeast Asia. The VC firm has already made investments in Asian startups, including the likes of Bengaluru-based home design and decor startup LivSpace, mobile payments startup Momoe technologies, Bengaluru-based retail technology firm, SnapBizz, etc.