Jungle Ventures launches fourth fund, targets to raise $250m

Singapore-based Jungle Ventures has launched its fourth fund and aims to raise about US$250 million, according to people with knowledge of the development.

The new fund, which is expected to close by the second half of this year, will cater to similar startup segments and have the same investment ticket sizes as the firm’s third fund.

(From left) Amit Anand, founding partner at Jungle Ventures, David Gowdey, managing partner at Jungle Ventures, and Anurag Srivastava, founding partner at Jungle Ventures / Source: Jungle Ventures

Jungle Ventures participates in series A and B rounds of startups across Asia, investing around US$8 million to US$10 million in the companies.

In October 2019, the firm raised US$240 million in the final close of its third fund. It initially expected to raise US$220 million, but it was oversubscribed. The fund bankrolled startups catering to millennials in Southeast Asia, as well as software providers that help small and medium-sized businesses adopt technology.

Jungle Ventures III Fund had invested in Southeast Asian startups such as Sociolla, Engineer.AI, SweetEscape, KiotViet, and Waresix.

A source said that the firm’s 2016 Vintage Fund II was a top-performing fund with an internal return rate of over 40%. It raised US$100 million in November 2016.