Singapore-based Jungle Ventures on Wednesday raised $600 million in the direction of the shut of its fourth fund. This contains $450 million in the principle fund and $150 million in further managed commitments.
The enterprise capitalist (VC) agency, which invests throughout Southeast Asia and India, has already made investments with the brand new corpus in Singapore’s Sleek, Vietnam’s first digital financial institution Timo, Indonesia’s Desty and India’s direct-to-consumer electronics model Atomberg, and lots of extra throughout sectors.
Asked what sectors can be essentially the most engaging for Jungle Ventures going ahead, founding accomplice Amit Anand mentioned Web3 and social commerce. “These are definitely interesting times we are living in, you know the whole concept of decentralisation and more equitable internet is no longer what just geeks talk about, it is almost becoming the only way a business should be built in the future. We think a lot more capital from us is going behind these areas where you are going to use concepts like web3 and social commerce and build more equitable business models. We have done this in the past, but this will be a huge play for us,” Anand mentioned.
Existing buyers Temasek, IFC, FMO and others have dedicated over 50% of the brand new fund. Jungle Ventures additionally welcomed new buyers like Mizuho Bank, the StepStone Group, international sovereign funds and household places of work — particularly from West Asia, Anand added.
With the newest fundraise, Jungle Ventures’ property beneath administration (AUM) reached over $1 billion. This makes Jungle the primary impartial Singapore-headquartered VC agency to realize the feat, the corporate mentioned.
From this fourth fund, Jungle goals to make a projected 15-18 key investments throughout India and Southeast Asia and mentioned India is the only largest when it comes to capital publicity for Jungle and the agency will goal to channelise over 50% of the brand new funds to the area, up from 25-30% because the Indian market continues to look extra engaging and the issue with entry to capital far behind.
Currently, the Jungle portfolio contains names like Kredivo, Livspace and Moglix throughout varied sectors.
Founded in 2012 by Amit Anand and Anurag Srivastava with a $10-million debut fund, the agency has seen a gradual improve in its AUM since then.
Source: www.financialexpress.com”