Singapore’s Jungle Ventures Raises $600 Million to Back Startups

Singapore’s Jungle Ventures has raised $600 million to continue backing early-stage startups in Southeast Asia and India, amid a market rout pummeling valuations of tech companies.

The sum includes a new $450 million venture capital fund, which exceeded its target of $350 million, the company said in a statement on Wednesday. Investors also committed $150 million for additional follow-on investments. New investors include Mizuho Bank Ltd. and StepStone Group, while existing backers including Temasek Holdings Pte, International Finance Corp. and German development finance institution DEG put in capital again.

Anurag Srivastava, from left, Amit Anand and David Gowdey.

Source: Jungle Ventures

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