Jungle Ventures, a Singapore-based fund house, has a portfolio of about 50 companies, including four unicorns. The venture capital firm targets only high-potential companies and is committed to delivering value through a deep and strategic alignment, says Amit Anand, Founding Partner and Managing Director. Edited excerpts from an interview:
How much funding have you raised to date?
We manage assets totalling $1 billion across four funds, including our most recent one, Jungle Ventures Fund IV, which closed at $600 million in 2022. We typically make 6-7 major investments each year.
What is your investment thesis?
We partner with founders to build companies capable of scaling into regional and global leaders. We prioritise sizeable local market opportunities with a large total addressable market (TAM) and potential for cross-border expansion. By targeting multi-market opportunities and investing across India and Southeast Asia, we leverage cross-market synergies to accelerate growth.
Which fund are you currently deploying from, and how much have you invested so far?
We are deploying from the Jungle Ventures main fund, through Jungle Ventures Fund IV.
What is your average cheque size?
For initial investments, it is between $500,000 and $20 million, depending on the nature of the business and its maturity.
Under the First Cheque@Jungle funding programme, we invest a minimum of $2 million in early-stage capital, with one half allocated to equity and the other to no-cap convertible note.
Which sectors are you betting on?
Jungle maintains a sector-agnostic approach while focusing on tech-enabled businesses that drive innovation and scalability. We concentrate on three macro themes — consumer, B2B [business-to-business], and software — across India and Southeast Asia.
In India, we have invested ₹1,000 crore over the past decade, focusing on sectors with significant funding gaps including SaaS [software as a service], consumer tech, edtech, and healthcare. Additionally, we are looking to scale up our annual investment to ₹1,000 crore.
In Southeast Asia, the investment focuses on financial inclusion and access to credit, those using technology to solve credit access and cash management challenges, and software startups developing solutions tailored to regional nuances in access and consumer spending power.
Both regions present a strong pipeline of investment opportunities, and our strategy leverages cross-market expertise to drive substantial, sustainable growth.
How many exits have you had so far?
We have achieved 10 exits through mergers and acquisitions, with the latest being Kyklo, acquired by Epicor. Between 2020 and 2021, our notable exits included Pokkt, PaySense, and Tradegecko. Earlier exits include Voyagin and Zipdial.
While an IPO [initial public offering] remains a strategic goal, we recognise that not all companies will reach, or are targeting that milestone.