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Rishab Malik, Associate, Seed Investments at Jungle Ventures
In October 2023, enterprise capital (VC) agency Jungle Ventures launched First Cheque@Jungle, a bespoke programme to assist entrepreneurs on the concept, pre-seed, seed phases and subsequent Collection A funding rounds.
First Cheque@Jungle relies on two core ideas: Concentrate on just a few distinctive groups with daring concepts at any given time and a sizeable first cheque with no minimal possession standards. Past offering capital, this technique goals to create an enduring impression by offering entry to sources, mentorship, and partnership alternatives.
In an e mail to e27, Rishab Malik, Associate, Seed Investments at Jungle Ventures, shares the most well-liked verticals the agency notices right this moment.
“From the inbound we obtain by way of First Cheque@Jungle, the highest three sectors entrepreneurs construct in are Shopper, B2B, and Healthcare. That stated, AI-led firms are predominantly receiving essentially the most traction. Conventional lending companies and progressive fintech firms have additionally been profitable in securing funding,” he says.
“Individually, there may be additionally a notable rise in funding within the farm mechanisation area, signalling a shift in direction of enhancing agricultural productiveness by way of know-how.”
He additionally reveals extra of the profiles of founders that have a tendency to achieve consideration. “General, VCs are more and more backing seasoned entrepreneurs, particularly these with a confirmed monitor file from earlier profitable ventures.”
Additionally Learn: Jungle Ventures rolls out new programme to again idea-stage startups in India, SEA
Based in 2012, Jungle Ventures launched with a US$10 million debut fund and has since grown its Property Underneath administration (AUM) 100x in 10 years. The agency stated that as of 2024, it has an AUM of over US$1 billion, making it the primary impartial, Singapore-headquartered VC agency that invests throughout Southeast Asia and India to succeed in this milestone.
Its portfolio consists of notable names resembling Kredivo, Livspace and Moglix.
On this interview, Malik explains the elements that Jungle Ventures considers when reviewing potential investments and shares some fundraising suggestions—particularly if you’re First Cheque@Jungle as your goal.
The next is an edited excerpt of the dialog:
What key elements do Jungle Ventures think about when evaluating a startup for potential funding?
We prioritise the profile of the founders, with a powerful desire for second-time entrepreneurs and area operators. Founders with deep working expertise focusing on massive, addressable alternatives (we’re speaking about multi-billion TAMs) and having distinctive insights into their clients, issues, and options are significantly compelling for us.
Are you able to share some frequent errors startups make throughout fundraising and the way they’ll keep away from them?
Startups typically misjudge their TAM by not totally understanding it or overestimating its measurement. A transparent articulation of the issue assertion and a sensible definition of success are essential.
An recommendation to founders is to keep away from making grand claims about future income. You can’t undertaking US$100 million by the third 12 months of operation and not using a detailed plan and go-to-market technique!
Additionally Learn: HealthXCapital joins Jungle Ventures to guide healthcare investments in SEA & India
What recommendation do you could have for startups to make their pitch extra compelling and stand out for Jungle Ventures?
If potential, attain out by way of a mutual connection, because it helps prioritise your utility.
Readability and keenness additionally go a good distance: a well-prepared 10-15 web page deck with clear targets, options, issues, and product particulars, together with being passionate in regards to the product and downside assertion, make a HUGE distinction.
Does chilly calling work? Do you want an insider contact to safe a gathering with a VC?
Opposite to widespread perception, chilly calling works. Our First Cheque@Jungle group evaluations each. single. inbound.
Whereas insider contacts and heat referrals are helpful, the perfect founders will at all times discover an in-road to attach with VCs and traders no matter their preliminary community.
How necessary is it for a startup to have a transparent exit technique when searching for funding from enterprise capitalists?
Whereas having an exit technique is necessary, as a rule, it evolves over time. My suggestion to founders is at all times to evaluate whether or not the corporate has the potential to go public and to determine comparable firms available in the market.
Analysing the learnings and key inflexion factors from these comparables can provide beneficial insights. This strategy of exit evaluation clarifies the trade construction and stakeholder dynamics.
Are you able to clarify the significance of constructing a powerful relationship between founders and traders post-investment and the way startups can foster this relationship?
I liken the founder-investor relationship to a wedding, no less than for eight to 10 years. So, select correctly and assume long-term from the onset. Foster this relationship by way of steady engagement, transparency, and alignment on imaginative and prescient and mission.
Chemistry with the companion on the VC agency and the power to work collectively by way of a number of cycles are extra necessary than you assume.
Additionally Learn: Jungle Ventures leads Vietnamese insurtech startup Medici’s Collection A spherical
Lastly, what’s the one key precept that founders want to recollect when fundraising?
Take time to ascertain a powerful partnership on the basis. This implies alignment on imaginative and prescient and mission, good chemistry with the VC companion, and the power to work collectively successfully deep within the trenches over numerous cycles and intervals of ebbs and flows.
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Picture Credit score: Jungle Ventures
The submit In it for the lengthy haul: Why Jungle Ventures likens founder-investor relationship to a wedding appeared first on e27.
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