Jungle Ventures, a Singapore-based venture capital firm, has announced the closing of its Fund IV at US $600 billion on May 18, 2022.
The fund is a combination of US $450 million primary funds and US $150 million in managed commitments. Jungle Ventures’ total assets under management (AUM) will hit US $1 billion due to this fund, making it the first independent Singapore-based VC firm to do so.
Fund IV’s initial objective was raising US $350 million, from existing investors such as Temasek, IFC, FMO, and DEG participating, which it achieved and even surpassed. New investors, including Mizuho Bank Ltd. and StepStone Group, have also committed to the fund
The fund, which has funded firms like Livspace, Moglix, and CityMall, has over US $1 billion in assets under management (AUM). Since the fund was oversubscribed, they had to use the greenshoe option to raise additional funds.
What the founder has to say:
Amit Anand, founding partner, Jungle Ventures:
“Around US $450 million has been invested in new companies, with another US $150 million set aside for follow-on investments in a winning portfolio.
The new fund will be deployed over the following 2-2.5 years. Around 15-18 startups will be backed. A larger fund allows us to provide more financing to our portfolio companies over time.”
According to Anand, existing investors, including Mizuho Bank, StepStone Capital, sovereign wealth funds, and global family offices, contributed nearly half of the new fund. In contrast, new investors, including Mizuho Bank, StepStone Capital, sovereign wealth funds, and international family offices, contributed.
About the company:
Jungle Ventures was founded in 2012 by Amit Anand and Anurag Srivastava with a US $10 million debut fund.
The VC business has a portfolio of around US $12 billion companies in which it has invested roughly US $250 million. Livspace and Moglix, two Indian unicorns, are among the firms in Jungle’s portfolio. Jungle Ventures has implanted in each of them at an early level.
Aside from the two unicorns, Jungle Ventures has recently backed HRTech firm inFeedo and blue-collar labour management platform Betterplace, as exclusively reported by Inc42. Among others, jungle has also made investments in edtech firm Leap and insurtech startup Turtlemint.
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