Exclusive: Jungle Ventures files for $100m second fund with US Securities Regulator

Singapore-based venture capital firm Jungle Ventures, has officially launched its second fund with a target of $100 million.

The fund will be called – Jungle Ventures II, L.P – and the total offering amount is $100 million, the venture capital firm said in a filing with the US Securities Regulator. The offering has $100 million left to be raised and is still open, Jungle’s August 13 SEC filing added.

DEALSTREETASIA had reported earlier this month that Jungle, which had recently roped in Ratan Tata, chairman emeritus of Tata Sons Ltd, as a special advisor, has clocked 50 per cent commitment to its second fund.

The report had further added that Jungle, which last month got on board David Gowdey, the former operating partner at private equity firm TPG Growth, as a managing partner, was raising an $80 million to $100 million second fund.

Also Read: David Gowdey recruited to Jungle Ventures team

Jungle Ventures ropes in Ratan Tata in advisory role, ahead of launching second fund

It had also said that total assets under management with this fund will be at $125 million.

Industry executives aware of the development has earlier told this portal that investors in the second fund include, Singapore state-investment fund Temasek, and also the city-state’s Thakral family.

During the earlier story, Jungle Ventures had not commented on a detailed query on its second fund, and also on getting Temasek on board as an investor. When contacted, the Temasek spokesperson had said: “We’re aware that Jungle Ventures is raising a second fund but are unable to comment further.”

While Jungle will continue to focus its investments across consumer internet, mobile, software and e-commerce, the second fund will see the firm increase its cheque size to about $3-$5 million.

All leading Singapore venture capitalists (VCs) are currently in the process of raising their second fund.

Last month, Singapore-headquartered Golden Gate Ventures (GGV) said it had held the first close of its second investment vehicle, a $50 million early-stage fund committed to Southeast Asian tech startups as well as international companies looking to move to the region.

Golden Gate held the first closing of this fund at $35 million from a mix of international investors and advisors, including Temasek, Facebook co-founder Eduardo Saverin, and Monitor Capital Partners (a European multi-family office). Additional partners included Singapore’s National Research FoundationNAVER (parent company of LINE messenger), and Far East Ventures – the venture capital arm of Far East Organisation,one of the largest property developers in Southeast Asia.

DEALSTREETASIA had recently revealed that the Singapore state fund and American multinational technology company Cisco had invested in local venture capital firm Monk’s Hill Ventures, that is raising an $80 million first fund.

Innosight Ventures, another Singapore-based venture capital firm is also raising a new $50 million fund, to make series A investments in technology, media and telecommunications companies.

Also Read: Jungle Ventures clocks 50% commitment for its $80m-$100m second fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.