Jungle Ventures raised $600 million for its fourth fund. The primary fund has a commitment of US $450 million, with the balance coming from managed commitments.
The business now has over $1 billion in assets under management. Jungle Ventures claimed in a statement that it was the first independent Singapore-based venture capital firm to accomplish that milestone, focusing on Southeast Asian and Indian markets.
The fund began with a US $350 million goal. Existing investors such as Temasek in Singapore, the World Bank’s International Finance Corporation, FMO in the Netherlands, and DEG in Germany contributed half of the total pledges. Limited partners include Japan’s Mizuho Bank and the United States’ StepStone Group.
The VC company intends to spend the money on 15 to 18 strategic projects in India and Southeast Asia.
Jungle Ventures was founded in 2012 by Amit Anand and Anurag Srivastava with a $10 million seed capital. In 2015, David Gowdey joined as a managing partner. It has a market capitalization of more than $12 billion, and its portfolio includes unicorns like Kredivo, Livspace, and Moglix.
Yash Sankrityayan, Sandeep Uberoi, and Manpreet Ratia were recently elevated to managing partners at Jungle Ventures.
