The funding consists of $450 million in the principle Fund IV and $150 million in extra managed commitments, one of many largest swimming pools of capital out there in the area, a senior firm govt advised ET.
The fund – which has backed corporations akin to Livspace, Moglix, and CityMall – has whole belongings below administration (AUM) of over $1 billion.
The fund, which got down to increase $350 million, was oversubscribed and exercised the inexperienced shoe choice of elevating extra capital.
“Around $450 million has come in to be invested in new companies and $150 million will go towards follow-on investments in backing a winner portfolio,” mentioned Amit Anand, founding companion, Jungle Ventures.
Anand mentioned the agency’s present backers had doubled down on their investments by chipping in virtually 50% of the brand new fund, whereas the remaining got here from a brand new set of buyers, together with Mizuho Bank, StepStone Capital, sovereign wealth funds and international household places of work.
Discover the tales of your curiosity
Some of its present buyers embrace Temasek, IFC, FMO, and DEG.
“India is likely to contribute 50% of the deal flow,” Anand mentioned, including that in its final classic fund, round 35% of the capital flowed into India.
Founded in 2012 by Anand and Anurag Srivastava, Jungle Ventures launched with a $10 million debut fund. It then went on to lift a $240 million third fund in 2019, which has been totally deployed.
“We expect to deploy the new fund over the next 2-2.5 years. We will look to back around 15-18 companies. A larger fund helps us support our portfolio companies with more capital across multiple rounds,” he mentioned.
It has already invested 10% of the capital in six corporations from the brand new fund.
These embrace, Timo (Vietnam’s first and main digital financial institution), Sleek (Singapore-based back-office working system for startups and SMEs), Atomberg (a D2C client electronics model in India), Medici (healthcare and insurance coverage platform in Vietnam), Desty (Indonesia-based social commerce enablement platform), Eveworld (Web3.0 primarily based social-crypto-community platform for girls), Mio (social commerce platform in Vietnam), and inFeedo (an worker expertise SaaS platform serving to international corporations handle crew tradition and retention).
Some of its earlier portfolio corporations embrace Kredivo, Livspace and Moglix, BetterPlace, CityMall, LeapFinance, Turtlemint amongst others.
Global funds akin to Sequoia, Lightspeed Venture Partners,
, and Venturi not too long ago raised native funds to again Indian and Southeast Asian corporations.