Jungle Ventures raises $240m

The Singapore venture capital firm closed its third Southeast Asia-focused technology fund.

Jungle Ventures held a final closing of Jungle Ventures III at $240 million, with $200 million raised from the main fund, and an additional $40 million raised by separate accounts. The firm collected over double for Fund III compared to its predecessor, Jungle Ventures II, which closed in December 2016 at its target of $100 million.

Fund III received capital commitments from several institutions throughout North America, Asia and the Middle East including Temasek, IFC, Cisco Investments, FMO and Bualuang Ventures. The vehicle will target early stage technology companies throughout Southeast Asia.

Founded in 2011, Jungle Ventures is a Singapore-based firm that invests in early stage technology companies across the Asia-Pacific region within the retail, healthcare, consumer goods, financial services and media industries. The firm has already raised capital from Fund III to invest in several companies including WareSix, Sociolla and SweetEscape.