[NEWS] ANGIN received seed investment from 500 Startups and prominent angel investors

ANGIN was founded in 2013 by several high net worth individuals, led by Shinta Kamdani, (CEO of Sintesa Group). It has pioneered the field of gender lens investment by launching the first Women Fund in Indonesia. Since then, ANGIN has organically expanded its offerings to new services such as consulting, technology, content and research.

To answer a growing market demand for its services, ANGIN’s management has decided to search for external support. “We have bootstrapped ANGIN since inception and our team was hungry for more impact and reach. We decided to look for external capital to give us the fuel to expand”, said David Soukhasing, Managing Director of ANGIN.

Funding was sought from other investment organizations who have experience scaling up in emerging markets, and who were aligned with ANGIN’s mission. Naturally, 500 Startups came to mind.

“Starting out in Silicon Valley to now 2,000+ investments in 60+ countries globally comes with deep set lessons and know-how that we want to share with ANGIN. Their work is expansive and lays the foundation for a more inclusive future. I am honored to be backing ANGIN as they scale up.” said Khailee Ng, Managing Partner of 500 Startups.

In May this year, ANGIN closed its first seed round from 500 Startups and three Indonesian investors: Shinta Kamdani, Pak Diono Nurjadin (CEO of Cardig International) and Jefrey Joe (Managing Director and Co-Founder of Alpha JWC).

“We are excited to work with a solid mix of VC and individuals who are fully aligned with our vision and impact mission. We are already preparing to launch new features, improving our services to our angel investors and will continue to strive on supporting Indonesian startups across Indonesia. This fundraising also sends a strong message to ecosystem builders like us who strive to support ventures, that investors are keen to support and that there is an alternative to grants and donations to sustain their operations”, adds David Soukhasing.

About 500 Startups: ​500 Startups​ is a venture capital firm on a mission to discover and back the world’s most talented entrepreneurs, help them create successful companies at scale, and build thriving global ecosystems. We are one of the most active seed stage venture capital firms in the world. Since our inception in Silicon Valley, 500 Startups has invested in over 2,000 companies via our 4 global funds and 14 microfunds dedicated to either specific geographic markets or verticals. Our 100+ team members are located in multiple locations worldwide, with 500 Startups’ global portfolio of investments spanning over 60 countries.

In Southeast Asia, our ​500 Durians​ Funds and team bridge talented entrepreneurs and the opportunities they are pursuing with access to connected capital and expertise. To date, we have invested in and support over 160 companies and have built powerful communities of founders across Southeast Asia.

[RECAP] World Environment Day at Greenhouse!

On June 5, 2018, ANGIN was invited to the World Environment Day 2018 talk at the Greenhouse Cowork center. The World Environment Day is an annual event led by the United Nations focused on raising awareness on the world environment. This year’s theme for World Environment Day is #BeatPlasticPollution. Speakers for the event included representatives from Greenhouse, Waste4Change, Project Semesta. Gerakan Indonesia Diet Kantong Plastik as well as the Danish ambassador, Mr. Rasmus Kristensen, and the Swedish ambassador, Mrs. Johanna Skoog.

 

Here are the key takeaways from the event:

  1. Both Sweden and Norway uses various incentives, such as taxes or refunds,  to change behavior on plastic use, recycling, and general waste management
  2. In a short 27 city trial run of a plastic bag charge, plastic bag consumption has declined by around 55%
  3. The resulting snowball effect resulted in the Indonesian government working on a plastic reduction policy which includes targets such a 70% reduction of marine plastic debris by 2025
  4. Roughly 80% of Indonesia’s waste materials can be composted and recycled yet roughly 80% is not managed properly
  5. There needs to be a paradigm shift towards Reducing, Reusing and Recycling rather than only focusing on disposal/landfill
  6. There are 5 Aspects that are needed to implement responsible waste management: policy/regulation, stakeholder participation, finance, institutions and operational technique
  7. What we can do to start eliminating waste: rethink, refuse, reduce, reuse, recycle and reroot

 

[EVENT RECAP] Antler Sharing Session

On Mon (28/5), Antler finally opens its doors to Indonesia. Pierre Martensson, partner in Antler along with Stig Traavik who is an advisor for Antler shared their views on the entrepreneurial landscape and how their work can contribute.

The panel discussion was filled with outstanding speakers: Martin Hartono (CEO of GDP Ventures), Noni Purnomo (CEO of Blue Bird Group), and Donald Wihardja (Partner at Convergence Ventures). The panel discussed the investment landscape in Indonesia and how strong founders should be supported. 

Antler is creating a program which enables top talents to team up with the right co-founders and develop and scale their ideas.  Antler is looking for founders who are experts in either business, product, or domain. Later on, founders with different expertise who have the same vision would be connected to each other. Antler’s mission is to turn the world’s best talent into great founders of great companies. 

The ANGIN team is proud to be part of this mission and we will continue to show support for the entrepreneurial ecosystem. 

[RECAP]: Bizcom.id’s talk on the sustainability of business in Indonesia

On May 31, 2018, ANGIN was invited to listen to Bizcom.id’s talk on the sustainability of business in Indonesia. The speakers of the event include Budiman Sudjatmiko, Stig Traavik, Alistair Speirs and Stephanie Hermawan with Sunil Tolani as moderator. Sustainability and maintaining Earth’s health are always critical topics when it comes to business operation as it affects the global population. The talk emphasizes the importance of this and Indonesia’s role and position on the topic of sustainability. Some of the key highlights mentioned during the talks include:

  1. The overabundance of old and environmentally damaging vehicles on the road when new, sustainable technology is already available
  2. Indonesia is losing the battle against China’s manufacturing and India’s technology sector.
  3. Indonesia economy is shifting towards urbanization and manufacturing to compete against China when it should instead focus its efforts on building a rural, agricultural economy
  4. The future of rising standard of living in a rural based economy is centered on “smart villages”
  5. Businesses play a critical role in society’s attempt to alleviate poverty and building a sustainable future

 

 

 

 

[EVENT RECAP] Insider’s Guide Launch Event!

On Wednesday (6/6) , ANGIN was cordially invited to Dila Karinta and Bettina Herz’ launch of their book Insider’s Guide to Jakarta Startups. While Bettina was unfortunately absent during the launch, Dila Karinta was accompanied by various speakers, including the Managing Director of Phoenix Communications, Alistair Speirs, Bizzy’s cofounder, Norman Sasono, the cofounder of Andalin, Rifki Pratomo, and others. The launch was held at what Speirs called “the first coworking space”, Starbucks. While the launch covered topics within the book, it included personal insights from each of the speakers on the startup environment, including the difficulty in making a startup, the necessity of perseverance in the face of failure, and many other topics.

Here are some important highlights from the event:

  1. The first question that should be asked before making a startup is “Do you really want to start a startup”
  2. “A startup is a newly formed business with particular momented behind it based on perceived demand…The intention of a startup is to grow rapidly as a result of offering something that addresses a particular market gap”
  3. It is difficult to create a startup by yourself –– build a team consisting of 2 or 3 people covering the technical, business development and creativity/marketing side
  4. Startups does necessarily have to be tech oriented but must use tech in order to be scalable
  5. It is important to have conviction and belief that your startup will succeed
  6. Because of Indonesian regulation (once a startup gets money from abroad, it becomes foreign), a lot of Indonesian companies are no longer Indonesian (Tokopedia is Chinese, Go-Jek is Singaporean)
  7. When startups get easy funding, they fall into the trap of over/reckless spending
  8. Indonesia’s startup landscape differs from Silicon Valley’s in that it tackles real world problems

ANGIN will continue to support efforts made for mentoring startups in Indonesia.