Venture Capital firm Jungle Ventures has raised $225 million in the first close of its fourth fund to invest in startups across Southeast Asia and India. Fund IV started raising in mid-May and is targeting a total of $350 million.
The majority of its limited partners are returning from previous funds, and include Temasek Holdings, IFC, DEG and Asian and global family offices.
According to the Singapore-based firm, Fund IV will write checks ranging from about $1-$15 million for Series B rounds, and participate in follow-on rounds.
Founded in 2012, Jungle Ventures launched with a $10 million debut fund. In 2016, it announced its second fund worth $100 million, followed by its $240 million third fund in 2019.
Jungle Ventures has made 88 investments and its portfolio companies include Kredivo, Moglix, RedDoorz, sociolla, Livspace, Pomelo, CityMall, and LiveIn among others. Last week the firm participated as an existing backer in a $55 million Series C round of Leap Finance.