Mumbai, 19th May 2022 – Singapore-based Jungle Ventures has announced a $600Mn close of their Fund IV with $450Mn in the main fund and $150Mn in additional managed commitments. This brings their total Assets Under Management (AUM) to over $1Bn, making Jungle the first independent, Singapore-headquartered VC firm that invests across Southeast Asia and India, to reach this milestone.
Starting with an ambitious target of $350Mn, the fund was hugely over-subscribed. Over 50% of commitments are from existing investors including Temasek, IFC, FMO, DEG to name a few, joining a force of selective new global investors such as Mizuho Bank, Ltd. and StepStone Group.
Founded in 2012 by Amit Anand and Anurag Srivastava, Jungle Ventures launched with a $10 million debut fund, and has since grown its AUM 100x in 10 years by staying true to a clear vision of ‘Build to Last’. Since inception, the purpose of the firm has been to help the next generation of entrepreneurs from India and Southeast Asia to build large dominant companies that stand the test of time. This investment strategy, which is designed to pick category winners predictably and consistently, has resulted in Jungle building a portfolio of companies with an Enterprise Value of over $12Bn, on just $250Mn of invested capital and a loss ratio of less than 5%.
The Jungle portfolio includes some of the most celebrated names in the region including Kredivo, Livspace and Moglix, all three of which were seed to unicorn investments by the firm. Since then, Jungle has curated a regional portfolio of market leading brands across multiple categories including vertical e-commerce (Pomelo Fashion, Sociolla, Reddoorz), social commerce (Citymall, Evermos, Mio), fintech/insurTech (LeapFinance, Vayana, Turtlemint), B2B enablement (Kiotviet, Deskera, Waresix), electric vehicles (Datbike), SaaS (Builder.ai, BetterPlace) and brand aggregators/D2C brands (Believe, Hypefast).
Jungle was the first independent, Singapore-headquartered VC to invest across both Southeast Asia and India. Since inception, Jungle has helped scale and regionalize these businesses to become category leaders across the largest and fastest growing consumer markets in the world. With Fund IV, Jungle aims to strengthen this position while continuing on its ‘concentrated portfolio’ building approach, by making a projected 15-18 key investments across India and Southeast Asia out of its new fund.
The firm has already made several investments from the new fund including, Timo (Vietnam’s first and leading digital bank), Sleek (Singapore-based back-office operating system for startups and SMEs), Atomberg (India’s leading D2C consumer electronics brand), Medici (healthcare and insurance platform in Vietnam), Desty (Indonesia-based social commerce enablement platform), Eveworld (Web3.0 based social-crypto-community platform for women), Mio (social commerce platform in Vietnam), and inFeedo (an employee experience SaaS platform helping global companies manage team culture and retention).
Jungle Ventures continues to scale with best-in-class talent and has recently promoted Yash Sankrityayan, Sandeep Uberoi, and Manpreet Ratia as Managing Partners of the firm to join the firm’s leadership team of David Gowdey, and the Founding Partners, Amit Anand and Anurag Srivastava.