South East Asia's emerging ecosystem has a vast amount of resources to collect after Jungle Ventures achieved the first proximity of $ 175 million for his latest fund, TechCrunch has come to learn.
Singapore-based executives expect the new fund, which is the third Jungle to date, to reach $ 220 million in the next few months, a fund-conscious resource and TechCrunch said. If this figure were reached, the fund would become the largest startup investment in Southeast Asia.
Jungle Ventures refused to comment.
Published in December, the SEC proposed that the company seek to raise up to $ 200 million with the fund. His last fund was $ 100 million and was closed in November 2016. Founding partners Anurag Srivastava and Amit Anand launched the fund back in 2012, when they earned a $ 10 million debut fund.
As we delved deeper, our source showed that the new Jungle Fund includes the returning LP of World Bank IFC and Cisco Investments – both invested in the $ 18 million "SeedPlus" Fund at an early stage – and in Singapore's Temasek Sovereign Fund. One new supporter we know is a German financier, although we understand that Jungle has spent considerable time fundraising the US market, and thus SEC filing. Outside Europe and U. The company also says that it has littered LP in Asia – as you would expect – and the Middle East.
The Jungle focuses on the A Series and B Series stores in Southeast Asia with occasional investments in India or the rest of the world, where they see global potential. One such example is Engineer.ai, who last week won $ 29.5 million in a Jungle-Lakestar round with AI SoftBank DeepCore.
The fund's mass and beverage is Southeast Asia, and past investments include the Deskera cloud platform ($ 60 million last round), Reddoorz budget hotel network ($ 11 million last year), fintech start Kredivo ($ 30 million last year) and Pomelo digital fashion brand that has earned more than $ 30 million from investors who also include JD.com.
In India, she supported Moglix's b2b sales platform and Livspace interior design. Past exits include Travelmob to HomeAway, Zipdial to Twitter, eBus to IMD and Voyagin to Rakuten.
We understand that the new fund has already completed five deals. Jungle pace dealmaking is typically half a dozen investments a year, and we understand that it will continue with fund three.
Fund managers are up in Southeast Asia, where strong economic growth is projected to be driven by increased Internet access and digital spending. Last year's highly quoted Google report and Temasek predict that the region's "digital economy" will triple to $ 240 billion since 2025.
Other major VC funds in Southeast Asia include Vertex Ventures ($ 210 Million Fund), Golden Gate Ventures – $ 100 Million and $ 200 Million Growth Fund – Openspace Ventures ($ 135 Million) and $ 150 Million Growth Fund.
There is also B Capital from Facebook Co-founder Eduardo Saverin, who recently received $ 400 million for the first closure of his second fund, although it does not invest solely in Southeast Asia, and Sequoia, which has a $ 695 million fund for India and Southeast Asia. Other global names you might see in this area include Burda, who has a local presence and starts with B, TPG Global and KKR.
Update 4/29 7:50 PM PST: The original version of this article has been updated to correct Jungle's investment in approximately ten companies per year, not monthly.