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Jungle Ventures Launches $10M Angel Fund For Asian Startups

Singapore based venture capital firm, Jungle Ventures, has announced the launch of a new pan-Asian angel fund at the TechVenture 2012 event, held in Singapore. The initiative has raised $10 million from Asian entrepreneurs and tech executives in its first round of closing. Jungle Ventures has also announced the appointment of  Peng T. Ong as the chairman of the board. Peng T. Ong (Founder- Match.com, Interwoven and Encentuate), Dan Neary (VP & GM Global Market Development, Skype), Anurag Srivastava (CEO, Spacematrix), Jayesh Parekh (Co-founder, Sony Entertainment Television), Toivo Annus (former Head of Engineering at Skype), Lim Der Shing (Founder-CEO, JobsCentral) among other have invested in the new fund. The new fund aims to invest in startups based on Consumer Internet, SaaS, content/media, among other segments. A Singapore-based venture capital firm, Jungle Venture makes early stage investments in startups from Singapore, India and other Asian countries. Jungle Ventures has previously invested in companies such as DocDoc, ekstop.com, travelmob, Mobikon Technologies, Sconce Solutions, Ebus.tv and One Animation. The fund has made 4 to 5 investments every year, for the last few years. However, it aims to increase the number of investments 2013 onwards with the launch of new fund. Apart from that, Jungle Ventures has also been appointed as an incubator by the Singapore National Research Foundation (NRF), Technology Incubation Scheme (TIS). The Next Web reports that the Singapore government will augment Jungle Venture’s investments, with each US$1 of funding being matched by up to US$5 from the government.  Other developments Recently, Pearl Uppal, Co-Founder and former CEO of Fashionandyou.com and Gaurav Kachru, Co-founder and former…

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