Jungle Ventures, a Singapore-based fund house, has a portfolio of around 50 companies, including four unicorns. The venture capital firm focuses exclusively on high-potential companies and strives to create value through deep and strategic focus, says Amit Anand, founding partner and managing director. Edited excerpts from an interview:
How much money have you raised so far?
We manage $1 billion in assets across four funds, including our most recent fund, Jungle Ventures Fund IV, which closed at $600 million in 2022. We typically make 6-7 large investments each year.
What is your investment thesis?
We partner with founders to build companies that can grow into regional and global market leaders. We focus on sizable local market opportunities with a large total target market (TAM) and potential for cross-border expansion. By targeting opportunities in multiple markets and investing in India and Southeast Asia, we leverage cross-market synergies to accelerate growth.
Which fund do you currently draw your funds from and how much have you invested so far?
We deploy capital from the main fund Jungle Ventures through Jungle Ventures Fund IV.
What is your average check size?
For initial investments, it ranges from $500,000 to $20 million, depending on the type and maturity of the business.
Through the First Cheque@Jungle funding program, we invest a minimum of $2 million in seed capital, with half going to equity and the other half to convertible bonds with no cap.
Which sectors do you focus on?
Jungle takes an industry-agnostic approach and focuses on technology-based companies that are driving innovation and scalability. We focus on three macro themes – consumer, B2B (business-to-business) and software – in India and Southeast Asia.
In India, we have invested Rs 1,000 crore over the last decade, focusing on sectors with significant funding gaps including SaaS (software as a service), consumer technology, edtech and healthcare. In addition, we are looking to increase our annual investment to Rs 1,000 crore.
In Southeast Asia, the investment focus is on financial inclusion and credit access, companies using technology to solve credit access and cash management problems, and software start-ups developing tailored solutions to regional differences in consumer access and purchasing power.
Both regions offer numerous investment opportunities and our strategy leverages cross-market expertise to deliver substantial, sustainable growth.
How many exits have you had so far?
We have achieved 10 exits through mergers and acquisitions, most recently Kyklo, which was acquired by Epicor. Our notable exits between 2020 and 2021 included Pokkt, PaySense and Tradegecko. Previous exits include Voyagin and Zipdial.
While an initial public offering (IPO) remains a strategic goal, we recognize that not all companies will achieve or aspire to this milestone.
Published on August 11, 2024
