Singapore-based venture capital firm Jungle Ventures closed its latest fund at $240m yesterday, securing the capital from limited partners including, according to DealStreetAsia, Cisco Investments, a subsidiary of networking technology producer Cisco.
Bualuang Ventures, the corporate venture capital arm of Bangkok Bank, is also an LP, as are Temasek, the World Bank’s International Finance Corporation, development finance institutions DEG and FMO, and Kuok Khoon Hong, chief executive of agribusiness Wilmar International.
Jungle Ventures III is the firm’s third Southeast Asian fund, and the close includes $40m that consists of separately managed account commitments. It will focus on digital consumer brands, enterprise software and local developers of technology that can be scaled worldwide.
The latest fund comes after a $10m first fund closed by Jungle Ventures in 2012 and a $100m second fund in 2016 that was backed by media company Hubert Media, Temasek and various family offices.
Jungle Ventures’ portfolio so far includes Deskera, a business management software producer valued at almost $500m; hotel booking platform RedDoorz, which raised $70m in August this year; and business-to-business e-commerce platform Moglix, reportedly valued between $200m and $300m as of July.
