Jungle Ventures adds to management team
Singapore-based Jungle Ventures, which is currently raising its second fund, has strengthened its management team with the appointment of a new CFO, director of corporate development, and head of finance.
Vaishali Cooper has been appointed CFO, having previously filled the same role for Bay and Komli Media, while James Lin, former financial controller at eBay, is now head of finance. Menka Sajnani, who was most recently with Google Southeast Asia following seven years with HQ Capital, has taken up a development role that involves building corporate, strategic and investor relations for Jungle and its portfolio companies.
The new hires follow the appointment of David Gowdey, previously of TPG Capital's growth investment unit, as a managing partner last year. Around the same time, Ratan Tata - chairman emeritus of Tata Sons, holding company for India conglomerate Tata Group - was signed up as a special advisor.
Jungle is targeting $100 million for its new fund, and the International Finance Corporation has agreed to commit $10 million, plus another $10 million for a co-investment vehicle. The fund will seek early-stage investments in technology companies based in Southeast Asia, particularly Series A rounds. The sector focus will be consumer-oriented internet and mobile businesses, as well as analytics; healthcare, financial services, and education technology; and enterprise software.
The firm's previous vehicle was a "super angel" fund launched in 2012 with $10 million to invest in start-ups in India, Southeast Asia, and Australia. Portfolio companies include TradeGecko, Fastacash, Crayondata, Livspace, iMoney, Zipdial and TravelMob. The latter two were acquired by Twitter and NASDAQ-listed HomeAway, respectively.
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