Jungle Ventures’ new $100 million fund will enable the venture capital firm to target Series A and B startups. It plans to invest $5 million to $6 million in a company’s lifecycle.
Jungle Ventures, a Singapore-based venture capital firm, announced it is raising a new $100 million fund. That’s ten times more than its first fund, raised in 2012. $65 million has been closed so far, and the firm expects to complete the fundraising in three months.
At inception, Jungle initially targeted early stage deals. But now, this new and larger pot is also aimed at series A and B startups. Jungle Ventures founder and managing partner Amit Anand said that the firm plans to invest $5 million to $6 million in a company’s lifecycle.
The VC firm has seen three exits with its old fund, with a 50% return on capital so far. Zipdial was acquired by Twitter, Travelmob was bought by HomeAway, and eBus was acquired by IMD. The firm received a 50% return on capital so far, and over half of the initial investors have committed financially to the new fund. Region-wise, Jungle’s focus remains in India, Southeast Asia, and Asia-Pacific.
Amit said he’s excited about vertical e-commerce, given that general e-commerce is already dominated by large players. He’s also looking at opportunities in Asian enterprise tech startups with global products. Find out more about Jungle Ventures’ portfolio in our database.
Update on Sep 22: Article originally mentioned that Jungle raised $100 million. That is incorrect. It has raised S$65 million en route to a $100 million goal.
This post was originally published on Tech in Asia.
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