IFC to invest up to $10 mn in Jungle Ventures' new fund
International Finance Corporation (IFC) is planning to invest up to $10 million, by way of equity in Jungle Ventures, which plans to launch a new venture capital fund with a target size of $80 million.
The fund will invest in start-ups in India, Singapore and other Asian countries.
IFC plans to invest another $10 million for a co-investment vehicle to invest alongside the fund.
The fund will be based in Singapore and will invest equity in early stage technology companies in Southeast Asia.
The fund will be based in Singapore and will invest equity in early stage technology companies in Southeast Asia.
The partners of the fund include executives with decades of operating experience at global start-ups such as Google, Facebook and leading tech category leaders in Asia such as Lazada and Komli Media.
Bluegape raises $600,000
Visual blogging platform Bluegape on Thursday said it had raised $600,000 (Rs 4 crore) from ah! Ventures, Rudy Gopalakrishnan of Fidelity and Times Internet. It had raised $184,000 in April from them. Bluegape has got a total funding of $500,000 (excluding the recent round).
Ayush Varshney, co-founder and chief technology officer, said, "We will imporve technology and expand the engineering team.
Indian Angel Network invests Rs 3.9 crore in Flatpebble.com
The Indian Angel Network (IAN) on Thursday announced that it has invested $600,000 (around Rs 3.9 crore) in TechClove Technologies, a Hyderabad-based startup that owns and operates Flatpebble.com, a services marketplace for hiring photographers, stylists and other ancillary service providers for events and occasions.
Flatpebble, founded in May 2013 by former Microsoft employees Venkatesan Sheshadri and Pranav Mehta, had raised an undisclosed amount in a round led by Raghu Bathina and Lax Gopisetty of Hyderabad Angels in December 2013.
As part of the fresh capital infusion, Sanjay Jesrani and Subram Kapoor, who led this round on behalf of IAN, will join the board of TechClove
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