Tanglin Ventures to raise $250 Mn for third fund

Tanglin Venture Partners, a venture capital firm founded by Ravi Venkatesh, a former Tiger Global executive, is gearing up to raise $250 million for its third fund, according to U.S. Securities and Exchange Commission (SEC) filings.

The firm closed its first fund in 2019, securing $51 million, followed by $45 million for its second fund in 2022. Tanglin focuses on investments in sectors such as business products and services, supply chain, fintech, SaaS, and direct-to-consumer brands.

According to the company’s website, it manages $250 million in assets and has invested in over 20 companies, with a typical cheque size of up to $8 million.
Tanglin’s portfolio includes Pocket FM, Moglix, Sugar.fit, Good Flippin' Burgers, abCoffee, Scapia, Plum, Open, Ninjacart, Jupiter, Rupeek, and more.

Headquartered in Singapore, the venture capital firm’s limited liability partners (LLPs) include Flipkart Group’s Chief Executive Officer Kalyan Krishnamurthy and Udaan co-founder Sujeet Kumar.

Tanglin's recent investments include a $6.5 million Series A round for Master Chow, spearheading an $8.9 million round for Ennoventure, and backing Beco in its $10 million funding round.

In January, Accel kicked off the year by launching a $650 million fund focused on early-stage startups. Avendus Future announced its first close with commitments of $100 million, Cornerstone Ventures achieved the first close of its $200 million second fund, Riceberg launched a $20 million fund for deep-tech startups, and South Park unveiled a $40 million fund.