TO INVEST IN EARLY-STAGE ENTREPRENEURS, JUNGLE VENTURES DEVELOPS A PROGRAM.

A program named "First Cheque" has been launched by Singapore's Jungle Ventures to invest in pre-seed and seed stage entrepreneurs throughout India and Southeast Asia. Ramakant Sharma of Livspace, Sayali Karanjkar of PaySense, and Cameron Priest of TradeGecko are three founders from its portfolio firms who will be involved in this effort. They will offer operational coaching and assistance with early-stage product-market fit and team building. Each business will receive a minimum investment of $2 million from Jungle Ventures, split evenly between stock and a no-cap convertible note.

The founders will also invest as angel investors from the newest $600 million fund of Jungle Ventures, which will provide the money. First Cheque seeks to lead or co-lead growth-stage fundraising rounds with investments ranging from $5 million to $10 million for each firm. It is sector-neutral. Amit Anand and Anurag Srivastava created Jungle Ventures, which has a diverse portfolio that includes businesses including Turtlemint, Leap, BetterPlace, CityMall, and Atomberg. The company boosted its healthcare footprint in August by joining together with early-stage venture capital firm HealthXCapital.

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