VC firm Jungle Ventures has closed its fourth fund at US$600 million. The investment vehicle includes US$450 million in commitments in the main fund, with the rest coming from additional managed commitments.
This pushes the firm’s assets under management to over US$1 billion. In a statement, Jungle Ventures said that it was the first independent Singapore-based VC that targets the Southeast Asian and Indian markets to reach that threshold.
Jungle Ventures partners (from left) Anurag Srivastava, Amit Anand, and David Gowdey / Photo credit: Jungle Ventures
The fund itself started with an initial target of US$350 million. Half of the total commitments came from existing investors such as Singaporean investment firm Temasek, the World Bank’s International Finance Corporation, Dutch development bank FMO, and German financial institution DEG. Japan-based Mizuho Bank and US-based StepStone Group also joined the fund as limited partners.
The VC firm plans to deploy the fund into 15 to 18 key investments across India and Southeast Asia.
Founded by Amit Anand and Anurag Srivastava in 2012, Jungle Ventures launched with a US$10 million maiden fund. David Gowdey then joined as managing partner in 2015. It currently has an enterprise value of more than US$12 billion, and its portfolio includes unicorn companies such as Kredivo, Livspace, and Moglix.
Jungle Ventures recently promoted Yash Sankrityayan, Sandeep Uberoi, and Manpreet Ratia as managing partners.
See also: A list of SEA’s soonicorns and their early backers (Updated)
Editing by Miguel Cordon and Lorenzo Kyle Subido
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