In the first close of its 4th fund, Jungle Ventures raised $225 million in order to fulfill the aim to replicate its successes in startups across Southeast Asia and India. The founding partner of the ventures Amit Anand said in an interview that many of its existing investors in previous funds backed the latest one. The investors include Temasek Holdings Pte, International Finance Corp. and German development finance institution DEG. The new fund has a planned size of $350 million.
Anand said, “We have coined two unicorns this year where we have been seed-to-IPO investors. We have built a franchise that will repeat quarter after quarter, and that separates us from the one-hit-wonder venture-capital providers.”
Jungle Ventures is a Singapore based company and has been an early-consistent backer of Kredivo, which became Indonesia’s largest consumer lending app, plus a business-to-business e-commerce platform Moglix. FinAccel, Kredivo’s parent, in August agreed to go public in the U.S. through a merger with a blank-check firm that values the combined entity at $2.5 billion.
Jungle Ventures also has some significant investors, including home-interior platform Livspace, beauty e-commerce operator Sociolla and Pomelo, a women’s fashion retailer in Southeast Asia.