Jungle Ventures has announced the final close of its second fund at $100 million, from investors including Temasek Holdings, International Finance Corporation, National Research Foundation (NRF) of Singapore and Hubert Burda Media.
The fund will target series A and select series B investments primarily in Southeast Asia, India and Australia, particularly when the latter businesses might expand to Southeast Asia. The investment fund had earlier launched a $10 million seed fund back in 2012. In India, it has invested in startups like Tookitaki, Milaap, ZipDial, Mobikon etc.
Tech funds this year:
This year, multiple firms launched funds which would be used for internet, technology, electronics and IOT among others: Accel Partners recently raised $450 million for its 5th India fund, YourNest launched a $45 million fund startups in technology, Ideaspring Capital launched a $18.7 million fund, Entrepreneurship & Venture Capital (EVC) announced a $50 million fund for Indian startups, IDG Ventures India launched an India-focused tech fund with a target amount of $200 million and Nokia Growth Partners announced a new $350 million fund IV to invest in IoT companies in the US, Europe, India and China.
Government’s startup funds
The Indian government also said it would spend $75.34 million on the ‘startup ecosystem’ in the next few years. The Karnataka state government also announced funds worth $57 million through Startup Karnataka. A recent draft paper on National Policy for Software Products also called for funds to be assigned for startups developing software.