VC firm Tanglin Venture sets third fund target corpus at $250 mn

By Malvika Maloo

  • 28 Jan 2025
Ravi Venkatesh, Managing Partner at Tanglin Venture Partners

Tanglin Venture Partners, a venture capital firm floated by Tiger Global executives Ravi Venkatesh and Edwina Yeo, is targeting to raise about $250 million (over Rs 2,100 crore) for its third investment vehicle, according to the firm’s filing with US Securities and Exchange Commission. 

While the VC firm is headquartered in Singapore, it backs startups in India and Southeast Asia. It has invested in over 20 startups, including Pocket FM, abCoffee, Credgenics, Beco, Moglix, Ninjacart, Open and Pepper Content, across its two funds. 

It is primarily focused on early-stage technology startups, particularly Series A stage, investing up to $8 million in its portfolio companies. These include both consumer and enterprise sectors. 

Tanglin did not respond to VCCircle’s queries till publishing time. 

The firm, founded in 2018, launched its debut fund in 2019. It had a target of about $50 million. The first fund attracted Flipkart co-founder Binny Bansal, Flipkart Group CEO Kalyan Krishnamurthy, Sujeet Kumar, co-founder of business-to-business marketplace Udaan, Dan Neary, Asia-Pacific vice president at Meta as limited partners.

The firm was set to close its second fund in 2022 at about $130 million, exceeding its target of $100 million, according to a report by DealStreetAsia. However, Tanglin did not make any official announcement. 

Tanglin has about $250 million in assets under management, according to its website. It has exited its investment in Bengaluru-based PingSafe that got acquired last year by SentinelOne. 

“Our investment approach is thematic and research-driven, coupled with deep, on-the-ground diligence. We are disciplined in our pace of deployment and have a concentrated portfolio, which enables us to spend quality time helping our companies scale,” according to the VC firm’s LinkedIn post.