Left to right: Anurag Srivastava, Amit Anand, and David Gowdey
Singapore-based venture capital firm Jungle Ventures today announced a US$600 million close of their Fund IV with US$450 million in the main fund and US$150 million in additional managed commitments, bringing its total Assets Under Management (AUM) to over US$1 billion.
In a press statement, the firm said that the fund was an oversubscribed one with an initial target of US$350 million. This update followed the firs close of the fund that it announced in September 2021.
It included over 50 per cent of commitments from existing investors such as Temasek, IFC, FMO, and DEGto. New investors such as Mizuho Bank and StepStoneGroup also participated in the fund.
With Fund IV, Jungle Ventures said that it aims to strengthen this position while continuing on its ‘concentrated portfolio’ building approach, by making a projected 15-18 key investments across India and Southeast Asia.
Out of this fund, it has made investments in companies such as Vietnam-based digital bank Timo, Singapore-based enterprise solution Sleek, India-based D2C consumer electronics brand Atomberg, Vietnam-based healthcare and insurance platform Medici, Indonesia-based social commerce enablement platform Desty, social-crypto-community platform for women Eveworld, social commerce platform Mio, and SaaS platform inFeedo.
Also Read: David Gowdey of Jungle Ventures: Why we will see an IPO from SEA in the next 12-18 months
e27 has reached out to Jungle Ventures to understand more details about their plan with the fund.
Founded in 2012 by Amit Anand and Anurag Srivastava, Jungle Ventures was launched with a US$10 million debut fund and has since grown its AUM 100 times in 10 years.
With a focus on Southeast Asia and India, the firm implements a strategy that allows it to “pick category winners predictably and consistently”.
Its portfolio included Kredivo, Livspace and Moglix –all three of which were seed to unicorn investments by the firm. Apart from these companies, it has also invested in various categories including vertical e-commerce (Pomelo Fashion, Sociolla, Reddoorz), social commerce (Citymall, Evermos, Mio), fintech/insurtech (LeapFinance, Vayana, Turtlemint), B2B enablement (Kiotviet, Deskera, Waresix), electric vehicles (Datbike), SaaS (Builder.ai, BetterPlace) and brand aggregators/D2C brands (Believe, Hypefast).
Jungle Ventures has recently promoted Yash Sankrityayan, Sandeep Uberoi, and Manpreet Ratia as Managing Partners of the firm to join the firm’s leadership team of David Gowdey and the Founding Partners Amit Anand and Anurag Srivastava.
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Image Credit: Jungle Ventures
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