Singapore’s Jungle Ventures raises $600 Million to support SEA early-stage startups

Jungle Ventures Co-founders

Amid the market downturn, Singapore’s Jungle Ventures has raised $600 million to continue funding early-stage firms in Southeast Asia and India.

According to a statement released by the company on Wednesday, the amount includes a new $450 million venture capital fund, which exceeded its $350 million targets. Investors also pledged additional follow-on investments totalling $150 million.

Mizuho Bank Ltd. and StepStone Group are new investors, while Temasek Holdings Pte, International Financing Corp., and the German development finance agency DEG have re-invested.

“We like to be a lead investor in seed to Series B funding rounds to help our companies with concentrated efforts with a 20-year horizon,” Jungle Ventures founding partner Amit Anand said in an interview. He also added that “We’ll see through this crisis by remaining consistent through ups and downs, rather than trying to catch a wave.”

Jungle Ventures, founded by Anand and Anurag Srivastava in 2012, presently owns over $1 billion in assets. Last year, the firm hired Sandeep Uberoi from Bank of America Merrill Lynch to head strategy, corporate development, and fundraising.

In December, he and Yash Sankrityayan were named managing partners, joining managing partner David Gowdey on the firm’s senior management team.

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