Jungle Ventures Renews Southeast Asia, India Bets With $600 Million Fund
Singapore-based Jungle Ventures has raised $600 million in a new fund backed by new and existing investors including Temasek, the latest venture capital firm to target more money on investments in Southeast Asia and India.
The fundraising for the fourth Jungle Ventures fund, among the largest regionally, comes amid a technology boom that has accelerated as more consumers moved online during the COVID-19 pandemic.
“We are sitting on a start of a 10, 20, 30-year secular trend of digitalisation,” said Amit Anand, Jungle Ventures’ founding partner, highlighting changing consumption patterns and adoption of online platforms by small and medium businesses.
The decade-old firm, which says it was the first independent, Singapore-headquartered venture capital firm to invest in Southeast Asia and India, said it scaled up the fund due to heavy demand after an initial target of $350 million.
Photo courtesy of kabita Darlami.
Source: Reuters (link opens in a new window)
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