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Singapore’s Jungle Ventures Raises $600 Million to Back Startups

  • Firm now has more than $1 billion in assets under management
  • Jungle Ventures targets early-stage startups in SE Asia, India
Anurag Srivastava, from left, Amit Anand and David Gowdey.
Anurag Srivastava, from left, Amit Anand and David Gowdey.Source: Jungle Ventures

Singapore’s Jungle Ventures has raised $600 million to continue backing early-stage startups in Southeast Asia and India, amid a market rout pummeling valuations of tech companies.

The sum includes a new $450 million venture capital fund, which exceeded its target of $350 million, the company said in a statement on Wednesday. Investors also committed $150 million for additional follow-on investments. New investors include Mizuho Bank Ltd. and StepStone Group, while existing backers including Temasek Holdings Pte, International Finance Corp. and German development finance institution DEG put in capital again.