Jungle Ventures, a Singapore-based venture capital firm known for its investments in companies such as Livspace, Moglix, BookMyShow, and Atomberg Technology, has introduced “First Cheque@Jungle,” an initiative aimed at supporting startups at the pre-seed and seed stages in India and Southeast Asia. This newly launched program, which is sector-agnostic, is set to invest a minimum of $2 million in early-stage companies.
Amit Anand, Founding Partner at Jungle Ventures, shared details of this initiative in a LinkedIn post, stating that “First Cheque@Jungle introduces a first-of-its-kind investment structure that ensures right-sized early-stage capital to go after the big ideas but with limited early-stage dilution. The firm will invest a minimum of $2 million as 50% in equity and 50% as a no-cap convertible note.”
To spearhead this program, the firm has appointed Rishab Malik as Partner, Seed Investments. In addition to Malik, the initiative will benefit from the guidance and mentorship of experienced professionals in the startup ecosystem, including Ramakant Sharma, Co-founder of Livspace; Sayali Karanjkar, angel investor and Co-founder of PaySense; and Cameron Priest, Founder and CEO of Neu Ventures. These experts will work closely with founders to help early-stage companies discover their product-market fit and provide support in hiring talent.
Jungle Ventures has a strong history of collaborating with over 45 founders from various sectors, including consumer brands, platforms, B2B, and software. In May of the previous year, the firm announced the final closing of its $600-million fund, which is primarily focused on growth investments in B2B, fintech, and edtech startups.
Exciting news! We’re now on WhatsApp Channels too. Subscribe today by clicking the link and stay updated with the latest insights in the startup ecosystem! Click here!
First Cheque@Jungle joins the ranks of other programs like the Peak XV-backed Surge, which concentrates on early-stage companies in India and Southeast Asia, and Accel’s Atoms, a platform dedicated to nurturing the early-stage cohort, with investment checks reaching up to $500,000.
