Jungle Ventures raises $225 million to invest in India, Southeast Asia startups

Jungle Ventures raised $225 million in the first close of its fourth fund as the venture capital firm seeks to replicate its successes in startups across Southeast Asia and India.

Many of its existing investors in previous funds backed the latest one, founding partner Amit Anand said in an interview. They include Temasek Holdings Pte, International Finance Corp. and German development finance institution DEG. The new fund has a planned size of $350 million.

There has been a flurry of fundraising activities and initial public offerings in Southeast Asia and India, where the tech industry is having a boom year. Since launching its first early-stage fund in 2012, Jungle Ventures has become one of the fastest-growing local VC firms in the city-state with assets under management of about $600 million.