Singapore-based enterprise agency Jungle Ventures is digging deeper into Southeast Asia and India with the shut of its fourth fund. Fund IV totals $600 million, with $450 million for brand new investments and $150 million earmarked for follow-up investments in its portfolio firms. The fund’s shut brings Jungle Ventures’ complete property beneath administration to over $1 billion, which it says makes it the primary unbiased, Singapore-headquartered enterprise agency that invests throughout Southeast Asia and India to hit this milestone.
Fund IV’s restricted companions are break up equally between returning traders and new ones. Returning backers embody Temasek, IFC, FMO and DEG, whereas new LPs embody StepStone Group. Tech coated the fund’s first shut of $225 million in September 2021.
Jungle Ventures was based in 2012 by Amit Anand and Anurag Srivastava, launching with a $10 million debut fund. Jungle Ventures has about 60 portfolio firms and says its enterprise worth is over $12 billion on $250 million of invested capital, with a loss ratio of lower than 5%.
A few of Jungle Ventures’ most notable investments embody unicorns Kredivo, Livspace and Moglix. It appears to be like for firms that may increase between Southeast Asia and India; for instance, Livspace was based in India and now operates in Southeast Asia, too.
Fund IV will proceed Jungle Ventures’ “concentrated portfolio” strategy, making a projected 15 to 18 key investments out of India and Southeast Asia. It makes many follow-up investments and has invested about $30 million to $40 million in some firms, throughout a number of rounds.
“We’ve been investing with that philosophy since our inception in 2012. It’s pushed by two main components that influenced our pondering. Issue primary is that almost all founders on this area, are first-time founders, and also you want quite a lot of assist and assist to provide to those founders to assist them develop their enterprise, assist them develop as a pacesetter as nicely,” Anand advised Tech. “From a founder to changing into a CEO is a really lengthy journey, a really painful journey, and never many individuals turn out to be profitable CEOs.”
He added, “This area has been utterly under-penetrated in each sector and we’d relatively focus our time and power and our capital on fewer investments an make them bigger.”
Fund IV has already backed Vietnamese digital financial institution Timo; Singapore again workplace working system Smooth; Indian D2C shopper electronics model Atomberg; Web3.0-based social-crypo-community platform for ladies Eveworld; and inFeedo, an worker retention SaaS platform.
“If I take a step again and simply consider one singular overarching thesis, I might say we are actually very, very impressed by the entire decentralization and equitable web motion that’s occurring world wide, whether or not it’s ideas like Net 3, whether or not its ideas like even social commerce, whether or not it’s the SME expertise digitalization,” Anand stated. “Basically, bringing the facility of the web to that smallest participant within the web economic system is what’s essentially the most thrilling side of this fund.”