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.