Three points you will get to know in this article:
- First Cheque@Jungle invests across India and Southeast Asia from idea to seed stages, sector-agnostic.
- The VC firm commits to leading or co-leading Series A rounds, investing $5-10M per company.
- Jungle Ventures commits a minimum of $2 million, split equally between equity and a no-cap convertible note.
Renowned venture capital entity, Jungle Ventures, has introduced the First Cheque@Jungle initiative, aimed at supporting fledgling startups from ideation to the seed stage.
Taking part in this initiative are Ramakant Sharma, the founder and COO of Livspace, Sayali Karanjkar, an entrepreneur and angel investor, and Cameron Priest, the founder of Neu Ventures. These experienced professionals, serving as venture builders, will provide valuable guidance to the selected early-stage teams, shepherding them through the intricate journey from 0 to 1.
In a commitment to fostering innovation, Jungle Ventures’ First Cheque@Jungle program is poised to make a meaningful impact on the startup landscape.
The initiative comprises two fundamental principles: a dedicated focus on a select number of teams at any given period and an initial substantial investment without specific ownership prerequisites.
According to a press release by the venture capital firm, First Cheque@Jungle is committed to remaining sector-agnostic, supporting startups in both India and Southeast Asia.
First Cheque@Jungle introduces a distinctive dual-component investment model. The company will provide a minimum of $2 million, divided equally between 50% equity and 50% as an uncapped convertible note. Jungle Ventures asserts that this approach ensures “appropriately sized early-stage capital for pursuing ambitious concepts, all while minimizing early-stage dilution.”
Renowned for supporting innovative ventures such as Moglix and Livspace, the venture capital firm is dedicated to spearheading or co-spearheading subsequent Series A funding rounds, with investments ranging from $5 million to $10 million per company.
According to Jungle Ventures, validation for their endeavors comes solely from the founders and themselves. Their commitment to enduring success is evident through consistent capital investments.
In a strategic move, the VC firm recently joined forces with HealthXCapital (HXC), a Singapore-based health technology investor, to channel investments into the burgeoning health tech sector across India and Southeast Asia.
Introducing the early-stage investment initiative is another stride forward for Jungle Ventures, arriving several months subsequent to the revelation of the finalization of its $600 million Fund IV. This comprehensive fund encompasses $450 million in the primary fund, complemented by an additional $150 million in meticulously managed commitments.
Back when this substantial fund was announced, Jungle Ventures expressed its intent to allocate investments to approximately 15-18 startups situated in both India and Southeast Asia. This investment endeavor marks a significant commitment by the VC firm to foster innovation and entrepreneurial ventures in the region.
Jungle Ventures has launched the First Cheque@Jungle initiative, providing support for early-stage startups in India and Southeast Asia. With a focus on nurturing innovation, this program offers substantial initial investments and guidance from experienced professionals. The company takes a sector-agnostic approach, supporting a select number of teams and minimizing early-stage dilution. Additionally, Jungle Ventures has recently partnered with HealthXCapital to invest in the health tech sector. This initiative represents the firm’s commitment to fueling entrepreneurship and driving innovation in the region as part of its comprehensive Fund IV.
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