Jungle Ventures announces $225M first close of its fund

The funding streak in Southeast Asia appears to retain its momentum as Jungle Ventures today announces the first close of the fourth installment of its fund – the fund closes at US$225 million.

Jungle Venture’s Fund IV opened officially in mid-May, with a total target set at US$350 million.

Most of its limited partners have participated in previous installments of the fund. This includes DEG, IFC, Temasek Holdings, and other Asian and global family offices. 

The firm claims that its Fund IV currently holds the record as the largest early-stage fund in Southeast Asia so far in 2021.

Founded in 2012, Jungle Ventures kicked off with a US$10 million debut fund. This was followed by a second fund which closed at US$100 million in 2016, and a third fund at US$240 million in 2019.

According to Founding Partner Amit Anand, Fund IV is part of Jungle Ventures’ strategy to raise a new fund every 2.5 to 3 years. It is also perfectly timed to leverage the attention and capital investment the region has been getting in recent times.

“If you look at Southeast Asia, where we are today, the ecosystem has been in the works for a long time. We started the journey back in 2012. We’re one of the oldest funds in the region and we haven’t seen as good a time as today to be in the tech ecosystem in Southeast Asia,” he said.