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Jungle Ventures Closes its Second Fund at $100 million, 10 Times Larger Than Its First

Jungle Ventures announced today the final close of its second fund on target at US$100 million. The new fund is ten times larger than Jungle’s first fund, raised in 2012 – and has established it as one of the largest early stage venture capital firms in the region.

Support from existing investors was strong and new investor interest was largely driven by demand from institutions and strategic family offices from Asia and the U.S. The investor base is well diversified and includes names such as Temasek Holdings, International Finance Corporation, National Research Foundation of Singapore, Hubert Burda Media as well as leading family office investors such as the Kewalram Chanrai Group and Khoon Hong Kuok.

“This is a significant milestone for Southeast Asia’s fast growing startup ecosystem and we are grateful for the faith existing investors and new partners have shown in us. With an exceptional team of 15 investing and operational professionals we intend to continue to invest and help build the best technology companies from this region.”

— Amit Anand, Founding Partner, Jungle Ventures

Since inception in 2012, Jungle is amongst the few VCs that have successfully exited companies via M&A to global brands such as Twitter, HomeAway, Rakuten and Shopclues. Jungle believes that M&A’s will continue to dominate the exit landscape in the region.

The Fund will largely target Series A and select Series B investments primarily in Southeast Asia, as well as, on a more opportunistic basis, businesses in India and Australia particularly where such businesses may benefit from expansion into Southeast Asia.

“The closing of the second round at US$100 million is a strong testament to our investment strategy. We look forward to working more closely with exceptional founding teams and catalyze them to be regional or global category leaders.”

— David Gowdey, Managing Partner, Jungle Ventures

Jungle Ventures is based in Singapore. The team consists of Investing & Operating professionals with decades of experience at firms such as TPG Capital, IFC, eBay, Google, Yahoo and Evernote. The firm is also best known for guiding the growth of portfolio companies across Asia, with its ‘operations as a service’ model.

Full time partners at the fund offer deep expertise and handhold early stage ventures, across areas such as executive team building and coaching, strategy and corporate development, operations finance amongst others. Jungle invests across all early stages of start-ups and has investments in Singapore, Indonesia, India and other hotbeds of entrepreneurial activity in South Asia.

 

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