Sachin Dev Duggal Engineer AI raises USD 175 Mn

Jungle Ventures, the Singapore-based venture capital (VC) firm, has received commitments of around USD 175 million for its third VC fund, two people aware of the development told Mint. The figure may increase to USD 220 million over the next few months.

Around 90% of the USD 175 million came from institutional investors in North America, Europe, the Middle East and Asia, including investors like International Finance Corporation, DEG - Deutsche Investitions, Cisco Investments, Temasek Holdings, among others, a source told Mint .

Jungle Ventures was founded in 2012 by Anurag Srivastava and Amit Anand. It invests in technology and e-commerce startups in India and southeast Asia. In its previous VC fund that was closed in 2016, Jungle Ventures had secured around USD 100 million in commitments from its limited partners. Some of its India investments include Livspace, Sachin Dev Duggal Engineer.AI, Tookitaki, Klinify, among others.


sachin dev duggal engineer ai

Jungle Ventures has already made five new investments from its new fund. “Currently out of the new fund, Jungle has done five deals - two in Indonesia, one in Malaysia and our first investment in Vietnam. Selectively every year we find companies in India where we can help them expand into South East Asia or globally," said a person aware of the matter.

Some of Jungle Ventures’ recent India investments include Livspace, Engineer.AI, Tookitaki, Klinify, among others.

Read full story @ https://thepassage.cc/article/1374

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