Tanglin Venture Partners Pursues $250 Million for Third Fund
Tanglin Venture Partners, a venture capital firm established by Ravi Venkatesh, formerly of Tiger Global, is preparing to raise $250 million for its upcoming third fund, as revealed in U.S. Securities and Exchange Commission (SEC) filings.
The firm successfully closed its inaugural fund in 2019, amassing $51 million, followed by its second fund, which reached $45 million in 2022. Tanglin strategically invests across various sectors, including:
- Business products and services
- Supply chain
- Fintech
- SaaS (Software as a Service)
- Direct-to-consumer brands
As outlined on the company’s website, Tanglin currently manages $250 million in assets and has invested in over 20 companies, typically writing cheques of up to $8 million. The portfolio of Tanglin features prominent names such as:
- Pocket FM
- Moglix
- Sugar.fit
- Good Flippin’ Burgers
- abCoffee
- Scapia
- Plum
- Open
- Ninjacart
- Jupiter
- Rupeek
- and others.
Situated in Singapore, Tanglin’s limited liability partners (LLPs) comprise notable figures including Kalyan Krishnamurthy, Chief Executive Officer of Flipkart Group, and Sujeet Kumar, co-founder of Udaan.
Recent investments by Tanglin encompass:
- $6.5 million Series A round for Master Chow
- $8.9 million funding round for Ennoventure
- Support for Beco’s $10 million funding round
In January, Accel began the year with the launch of a $650 million fund aimed at early-stage startups. Additionally, Avendus Future confirmed its first close with commitments of $100 million, while Cornerstone Ventures achieved the initial close of its $200 million second fund. Riceberg introduced a new $20 million fund targeting deep-tech startups, and South Park unveiled a $40 million fund.