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.
