Oct 19, 2012

Singapore - Jungle Ventures announces new US$10M pan-Asian super angel fund

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Jungle Ventures has announced a new US$ 10 million pan-Asian super-angel fund to launch at TechVenture.

The new fund has raised a US$10 million first closing from leading Asian entrepreneurs, including Peng T. Ong (founder, Match.com, Interwoven and Encentuate), Dan Neary (VP & GM Global Market Development, Skype), Anurag Srivastava (CEO, Spacematrix), Jayesh Parekh (co-founder, Sony Entertainment Television), Toivo Annus (former head of engineering at Skype), Lim Der Shing (founder-CEO, JobsCentral) among other angels and institutional funds.

The announcement was made in conjunction with TechVenture, which is happening today at Marina Bay Sands. The new fund sees the participation of experienced entrepreneurs such as Mr. Peng T. Ong, one of the most successful entrepreneurs in Singapore. He founded Match.com, Interwoven and Encentuate, which he successfully sold off to bigger companies. Aside from Mr. Ong, several other entrepreneurs with extensive experience also chips in to the new fund.

Other than that, the fund also partners with 500Startups to support go-to-market plans for their investee companies. Dave McClure, founder of 500Startups lauded the expansion opportunities around the world. “500Startups is excited to be working with Jungle Ventures in Singapore, as well as across Asia. Given the expanding opportunities around the world, it’s great to see more firms taking a global approach to investing in startups,” says Dave, who co-invested alongside Jungle Ventures in Singapore based online healthcare startup, DocDoc.

Jungle Ventures invests in seed to series A stages. The fund is often invested across multiple rounds, thus proving to be a comprehensive funding partner for startups through their early stages. Recently, Jungle Ventures invested a total of US$ 1 million in seed funding into short term rental site travelmob.

When asked how Jungle Ventures knows if a startup is solving a real problem and not just focusing on something that is actually not a problem at all, managing partner Amit Anand shared that they look for early signs of value creation.

“Sometimes it is very pronounced while other times the investors have to bring their expertise to the founders and help them narrow down on a real and sizable problem. We often end up guiding such guidance even to those startups that we don’t end up investing in. As peers, we owe them that much.”

The new super angel fund is definitely a good sign for the startup ecosystem throughout Asia. We are starting to see more earlier successful entrepreneurs whom have exited their companies, putting in their expertise and money back into the ecosystem.

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