Singapore-based early-stage VC Jungle Ventures raised USD 175 million in the first close for its third fund, according to an official statement received by KrASIA.
Temasek, IFC, DEG, and Cisco Investments are among the LPs.
So far, Jungle Ventures has done five deals out of the new fund, with two in Indonesia, one in Malaysia, and its first investment in Vietnam.
The firm’s investments in the region include Thailand-based Pomelo Fashion as well as Indonesia-based Kredivo and Reddoorz.
According to Crunchbase, Jungle Vntures made 61 investments in total and had four exits, most notably the Indian Zipdial, which was acquired by Twitter.
Jungle Ventures raised its USD 12 million first fund in 2012 and USD 100 million in 2016. This first close of its third fund might be the largest in the region for an early stage venture capital fund.
Comparable firms are Singapore-based Monk’s Hill, with a  USD 150 million second fund and Golden Gate Ventures, with a USD 100 million fund for Southeast Asia.
Editor: Nadine Freischlad
