Asia-Pacific News

Singapore's Temasek to invest in new venture capital fund

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Singapore state investor Temasek Holdings has committed a total of $65 million along with other investors in a venture capital fund being raised by Singapore-based Jungle Ventures, which will put money into about 20 technology startups.

The new fund expects to close at $100 million in funding in three months.

Other investors include the National Research Foundation of Singapore and family offices.

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The fund will invest about $3 million to $6 million in each company, including any follow-on funding, Anurag Srivastava, a co-founder at Jungle Ventures, told Reuters.

Jungle Ventures' previous funding round in 2012 saw three exits, including Twitter's acquisition of Indian mobile phone marketing start-up ZipDial early this year.