In February, Tata had taken up a similar role with Kalaari Capital, a $350 million India-focused venture capital firm.
Founded by Anurag Srivastava and Amit Anand, Jungle Ventures, is an early stage venture capital fund, that focuses on “building innovative technology led companies out of the Asia-Pacific”.
It has already made investments in 30 Asian startups, including the likes of Zipdial (recently acquired by Twitter), LiveSpace, Tradegecko, CrayonData, Fastacash and travelmob (acquired by Nasdaq listed HomeAway).
Jungle will look to use the vast experience that Ratan Tata brings on board, as it seeks to tap opportunities in the fast growing tech and consumer sector in the region, especially as it plans to launch its second fund.
DEALSTREETASIA has learnt that Jungle is currently raising its second fund with a target of up to $100 million; but it may also opt for a final close at around the $60 million-$75 million mark, if the initial target turns to be too ambitious.
Jungle had initially raised $10 million as part of its first pan-Asian super Angel fund. The investors in its first fund include founder of Match.com, Interwoen and Encentuate, Peng T Ong, chief executive of Space Matrix, Anuag Srivastava, founder and chief executive of JobsCentral, Lim Der Shing, former head of engineering at Skype Toivo, Annus and co-founder of Sony Entertainment Television Jayesh Parekh among others.
In his role as special advisor, Tata “has formally committed to spend time with Jungle’s portfolio of companies to help them build category leadership, while being ethically impregnable and culturally strong, in Asian and global markets,” Jungle said a statement.
Anurag Srivastava, founder and managing partner at Jungle Ventures, said: “I have had the good fortune of working with Mr Tata in the past and feel honoured to have this opportunity again to work with him. With his wealth of experience, there is probably no better advisor that we can have in this part of the world, to mentor us and our portfolio of companies.”
Amit Anand, founding and managing partner, Jungle Ventures said: “ Tata, with his experience of steering India’s most respected conglomerate to one of the largest Asian born multinationals and with his personal passion for entrepreneurship, will bring immense value to us and the portfolio companies. As our companies look to become global category leaders in various markets, Mr Tata will help us and our entrepreneurs understand the economics and dynamics of those markets. It has already been a humbling experience to work with Mr Tata and we have found him to be astonishingly responsive, insightful and decisive.”