Jungle Ventures, which has backed Indian startups such as Moglix and Livspace, has marked the first close its fourth Southeast Asia and India focused venture capital fund at $225 million.
Limited Partners (LPs) in the new fund include existing investors such as Temasek and German development finance institution DEG, the Bloomberg reported citing Jungle Ventures' founding partner Amit Anand.
Earlier in April, World Bank’s International Finance Corporation (IFC) also said it would invest $25 million (Rs 185 crore) in the fourth fund of Jungle Ventures. At that time, IFC had said that Jungle Ventures aims to raise a total of $300 million for the fund while the Bloomberg report said that the planned size is $350 million.
An email sent to Jungle Ventures did not elicit a response till the news was published.
The new fund will look to invest in 15 to 20 early-stage companies in sectors such as consumer internet, fintech, business-to-business and small and medium enterprises focused on tech.
The fund is led by Jungle Ventures managing partners Anand, Anurag Srivastava and David Gowdey.
Started in 2012, Jungle Ventures is an early-stage venture fund. Its portfolio companies apart from Moglix, which turned into a unicorn this year and Livspace, include consumer lending app Kredivo; budget accommodation brand RedDoorz; and e-commerce platform sociolla.
Earlier Monday, Jungle Ventures along with private equity firm CX Partners led a Series C funding in BetterPlace, a technology platform for blue-collar workforce management.
In March, Jungle Ventures entered the Indian edtech space by leading a $17 million Series B funding round for Leap, a guidance and financing platform focused on overseas education.
Earlier this month, Jungle Ventures also participated in the $55 million Series C funding round of Leap.
In June, the venture capital firm led a $22.5 million (Rs 167.3 crore) Series B round in ecommerce platform CityMall.
Jungle Ventures had raised $240 million (Rs 1,700 crore) for its third venture capital fund in October 2019. The Singapore-based investor mobilised $10 million for its first fund in 2012, $100 million for its second fund in 2016.
This year has seen several venture capital firms announce fundraising milestones.