Singapore-based venture capital fund Jungle Ventures, which counts Ratan Tata as a special advisor, is close to launching its second fund that would invest across South Asia, including India. The company intends to announce the fund in the next couple of weeks.
“That’s the kind of the time-line (couple of weeks) but these things tend to move…. This fund will be significantly larger than the first fund and this will be primarily Series A, Series B fund,” Jungle Ventures’ Co-Founder And Managing Partner Amit Anand told BusinessLine . He, however, did not disclose the exact size of the fund. Jungle Ventures, which had invested in firms such as Mobikon, ZipDial, Livspace, Momoe, Pokkt and Crayon Data, had raised $10 million through its first fund in 2012.
Jungle Ventures would provide funding to companies focused on Asia as a target market, and could be based out of India, Singapore and Australia among other countries.
“This second fund would have a cheque size of about $3-5 million, and would invest across companies in consumer internet, mobile, software and e-commerce,” David Gowdey, a former TPG Growth executive who was appointed as Jungle Ventures’ managing partner last week, said.