Singapore-based venture capital firm Jungle Ventures has reached the final close of its $100-million second fund, the company announced today. The new fund is ten times larger than Jungle’s first fund, raised in 2012, which places them as one of the largest early stage VC firms in the region.
Commenting on the development, Amit Anand, Founding Partner, Jungle Ventures, said, “This is a significant milestone for Southeast Asia’s fast-growing startup ecosystem and we are grateful for the faith existing investors and new partners have shown in us. With an exceptional team of 15 investing and operational professionals we intend to continue to invest and help build the best technology companies from this region.”
The Fund will largely target Series A and select Series B investments primarily in Southeast Asia, as well as, on a more opportunistic basis, businesses in India and Australia, particularly where such businesses may benefit from expansion into Southeast Asia, the company said in a statement.
Mr. David Gowdey, Managing Partner, Jungle Ventures said, “The closing of the second round at US$100 million is a strong testament to our investment strategy. We look forward to working more closely with exceptional founding teams and catalyze them to be regional or global category leaders”.