The company’s managing partner, David Gowdey, said Jungle Ventures was looking for two Indonesian start-ups to invest in during the company’s next fund-gathering round.

 “We usually provide Series A and Series B funding, but we are also open to pre-series A and pre-series C funding too if necessary. I’ve noticed that Indonesian markets have gone through rapid changes during the las three to five years. There are many start-ups that were built to solve problems in the country. Jungle wants to fund quality start-ups; doesn’t matter where they’re from,” said Gowdey in Jakarta on Nov. 1.

Jungle Ventures has invested in three start-ups in Indonesia this year, namely beauty e-commerce and social platform Sociolla, logistics platform WareSix and photography service provider SweetEscape. Jungle also invested in Indonesian fintech firm Kredivo last year.

Gowdey also mentioned that jungle had distributed 30 percent of its funds to Indian start-ups, which heavily consisted of Series A and Series B funds. He said most of the Indian start-ups planned to use the funds to expand their business operations to Southeast Asia.

The remaining 70 percent of its funds are almost evenly distributed between Southeast Asian countries. In total, Jungle has invested in 32 start-ups in Southeast Asia and India.

Some of Jungle’s most notable investments in Southeast Asia include US$70 million in Series C funding to Singapore-based budget accommodation platform RedDoorz in August, $52 million in Series C funding to Thai fashion label Pomelo Fashion in September and $30 million in Series B funding to Kredivo last year.

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