|By||http://e27.cohttp://e27.sg/2011/10/18/cinemacraft-is-jungle-ventures-inaugural-funds-first-investment/||| Oct 18, 2011 | News|
Jungle Ventures, a venture capital firm based in Singapore and managed by Amit Anand, has announced last week that it has made a S$1 million investment along with independent investors into Cinemacraft. Cinemacraft’s founder, Sandeep Casi, said “Jungle Ventures’ interest in Cinemacraft helped us secure more investors. This round of funds will be used for further product development and early rollouts in our core markets such as Japan, Indonesia and India.” On the company’s future plans, Sandeep said “We look forward to a long-term partnership with the Jungle Ventures team. We have also secured a grant from the Infocomm Development Authority for product development in Singapore and we look forward to keeping our customers and partners updated with news on this front.”
The independent investors involved in this round of funding are no strangers to the mobile media solutions industry that Cinemacraft is in. Jayesh Parekh, founder of Sony Entertainment Television, Jai Maroo, Director at Shemaroo Entertainment, Devesh Chetty, ex-CEO of RGM Media and Takuro Wakabayashi from Xseed Partners were some of the investors named.
This investment is part of the inaugural fund of Jungle Ventures which will target early experiments, entrepreneurial teams and startups. Jungly Ventures plans to focus on sectors particularly in Media & Entertainment, Digital Consumerism, Travel & Hospitality, Human Capital Management, Education and Design. “Our first fund is a sector-agnostic, technology-centric fund that aims to invest in building blocks of the goliaths of the future. Cinemacraft is laying the foundation for a video-powered interactive media network in Asia and we are very excited to be part of this,” said Amit. He also said that they firm is not averse to making significant commitments because they know what ideas need substantial capital and nurturing to provide sufficient runway for the teams. Jungle Ventures expects to invest up to a million Singapore dollars per investment, even at the concept stages.