Jungle Ventures Closes Third Venture Capital Fund, at $240M

Jungle VenturesJungle Ventures, a Southeast Asian early stage venture capital firm, closed its third fund, at $240m.

Jungle Ventures III raised more than double the amount of its previous fund, Jungle Ventures II (2016), with nearly 60% of committed capital coming from outside Asia. More than 90% of the capital came from institutional investors spanning North America, Europe, Middle East and Asia, with new investors accounting for nearly 70% of the fundraise, and returning investors for the rest.
In details, investors range from endowments, funds of funds, and development financial institutions to strategic family offices and leading technology players. These include DEG, Germany’s development finance institution; IFC, a member of the World Bank Group; Bualuang Ventures, a corporate venture capital fund of Bangkok Bank; Dutch development bank FMO; Cisco Investments; and Singapore’s Temasek, among others.

Led by Anurag Srivastava and Amit Anand, Jungle Ventures is an early stage venture capital firm in Southeast Asia whose portfolio broadly covers three verticals:
– consumer brands for the digitally native;
– digital platforms for transforming SMEs;
– global technology leaders born in Asia.

The firm was the earliest institutional investor in a number of category leaders in Southeast Asia, including:

  • travel and hospitality startup RedDoorz, which in August announced a $70 million series C funding round;
  • fashion e-tailer Pomelo Fashion, which announced a $52 million Series C funding round in September; and
  • Kredivo, Indonesia’s largest online consumer lending and payments platform, which raised $30 million in series B funding last year.

Jungle Ventures III has already invested in Sociolla, KiotViet, WareSix, SweetEscape and Engineer.ai.

FinSMEs

31/10/2019

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