[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.

[NEWS] ANGIN Featured In Diinsider Change Mag!

David Soukhasing has the pleasure to share ANGIN’s work with Gladys from Diinsider Change Mag. Through this interview, we discuss angel investment, our impact, challenges as still an early organization and our vision forward. Thanks Gladys for allocating time to our impact.

You will find the interview here.

CHANGE works to promote grassroots innovations that have the potential to inspire many organizations and young changemakers who have been directly involved in work at the grassroots level, and empower them to take effective actions with sustainable and scalable models. Their founding team combines intensive grassroots experiences with cross-sector skills and global perspective. They are all social entrepreneurs dedicated to creating changes in the grassroots level, however when they started, they could not see a single platform that can empower our work with both inspirations and in-depth analysis. So they created one.

In this issue, they also bring you a collection of cases in the agricultural sector. They hope to open your innovative minds to co-create and co-innovate our agriculture industry and empower farmers, their families and the whole economy.

Featuring as well:
Nelaya Eco Farm | Youth Co:Lab
Digital Green
Aryana Agricultural Alternatives
Doko Recyclers

[RECAP] ANGIN goes to AVPN Conference 2018

ANGIN is proud to have both attended and participated in the AVPN 2018 Conference in Singapore. Valencia Dea, Principal of ANGIN, shared her insights during the panel, Financing the Missing Middle in Southeast Asia alongside several other policy experts. Riaz Bhardwaj presented ANGIN’s research findings during a Gender Lens Investment workshop hosted by Sasakawa Peace Foundation. The conference had a heavy focus on gender lens investment and women’s empowerment – a refreshing take on investment, especially as ANGIN expands its women’s empowerment  programs.

In addition, the team was able to attend meaningful workshops such as Big Data for Social Impact and Investing in Digital Inclusion and Last Mile Connectivity in Asia, hosted by the likes of USAID, Google, Microsoft, VillageCapital, and Mastercard. The Deal Share Platform speed-dating sessions were also eye-opening and informative as some of the best social innovations and entrepreneurs were given the chance to present their products and solutions. ANGIN is grateful to once again have the opportunity to attend the AVPN conference as a member and participate actively as speakers and attendees while reconnecting with old faces and meeting new ones. We look forward to more AVPN activities in the future and see the impact investment space of Asia to be extremely promising.

 

 

[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

 

[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

 

 

 

 

[RECAP] Oracle Startups Festival Cloud Acceleration Day

On Wed (9/5), David from ANGIN was invited to speak at the Oracle Startups Festival Cloud Acceleration Day in Yogyakarta. Many Yogyakarta startups showed up to this event, and all of them are very enthusiastic and eager to learn more about the digital economy ecosystem and the investment landscape in Indonesia.
Here are the key takeaways:

  • Indonesia is soon to be ASEAN’s biggest digital economy country
  • Digital economy ecosystem in Indonesia is growing, corporate such as Oracle are showing their support as well as the government, coworking spaces, startup accelerators and incubators, and of course funding.
  • There are 6 criteria to assess whether a startup would be a good fit for an angel investor or not: ticket size, timing, type of funding, industry, tech/non-tech, and in which stage the startup is in.
  • When evaluating the startups, we look at these criteria: team, value proposition, business model, strategy, monetization, execution, valuation, and exit/return opportunity.

We hope all the entrepreneurs who attended the event gained significant knowledge of the investment landscape and digital economy ecosystem!

[RECAP] Young Technopreneur (YTech) Award Ceremony

On 16 May, 2018, ANGIN attended the Young Technopreneur (YTech) Awards Ceremony, located at @america. The YTech program is strengthening U.S.-Indonesia partnerships in the digital economy and helping usher in cutting-edge digital solutions and apps by young Indonesians to address local and global challenges. Young technology-backed startups pitched in front of a panel of investors, who gave their candid feedback. This spirited session was followed up by the awards ceremony and an inspiring speech by US Ambassador Donovan.

ANGIN is excited to have witnessed such strong determination from these young startup leaders. We are excited to see further programs supporting Indonesian startups from our friends at the US Embassy.

 

[RECAP] NextICorn International Summit 2018

ANGIN was honored to have attended the NextICorn International Summit 2018 from 9 – 10 May 2018, held at the Bali Nusa Dua Convention Center. The summit was opened with amazing speakers including Chairman of Indonesia’s Investment Coordinating Board Thomas Lembong who spoke directly to the audience on the administration’s dedication to supporting the startup ecosystem, the managing director of Sequoia Capital India Sheilendra Singh, and Minister of Communications and Information Technology H.E. Rudiantara. An all-star panel with Indonesian Unicorn CEOs comprised of GO-JEK’s Nadiem Makarim, Traveloka’s Ferry Unardi, Tokopedia’s William Tanuwijaya, and Bukalapak’s Achmad Zaky then spoke about Indonesia’s startup potential in a digital age and their own unique journeys and experiences.

The rest of the conference bustled with activity. In the main hall, speakers from different industry verticals such as fintech, health, and education spoke to concentrated audience members. Meanwhile, hundreds of meetings were occurring between hopeful startups and investors in hallways, meeting rooms, and lunch tables. In total, 70 curated and selected seed to Series C startups were present, including ANGIN’s own portfolio company, Taralite.

ANGIN is delighted to have partaken in such a meaningful and productive conference. We are grateful to have reconnected with so many familiar faces and meet many new ones, and highly anticipate next year’s NextICorn summit.

[RECAP] Indonesia Sustainability Seminar 2018

ANGIN team attended the Indonesia Sustainability Seminar 2018, organized by Most Valued Business (MVB) Indonesia, on 8th May 2018 at Hotel Raffles in Jakarta, Indonesia. The theme of the seminar was “Securing Sustainable Future through Innovation and Dedication”.

A number of interesting speakers from public sector, private sector and the academia share their ideas and experiences on how to incorporate social responsibility in the business processes. The speakers included Alistair Speirs (Chairman of MVB Indonesia), H. E Rasmus A. Kristensen (Ambassador of Denmark for Indonesia), Maria Nindita Radyanti (Executive Director of CECT Trisakti), Paola Cannuciari (Co-Founder of Waste4Change) and Bjorn Heidrich (President Director of BayWa r.e.).

  1. E Rasmus A. Kristensen, the Ambassador of Denmark for Indonesia, in his keynote presentation, highlighted the initiated taken by Denmark towards a sustainable future. The ambassador made a very interesting remark about how innovation is driving sustainability and changing the competitive landscape. He spoke about Denmark’s commitment towards promoting circular economy and resource efficiency. He also shared case studies of how Danish companies are developing and pioneering circular economy solutions. One of the most interesting cases was how many companies are using low-cost clean energy in Denmark to build their massive data centres and then, utilizing the heat produced from data centres to heat homes.

Maria Nindita Radyanti, Director of CECT Trisakti, delivered a presentation on how corporate social responsibility (CSR) is not only about external impact and philanthropy but also about the impact of the internal business activities and decisions. Furthermore, she noted that CSR is an activity with the objective of sustainable development and also, demonstrated how businesses can incorporate CSR across the value chain.

The seminar also showcased two businesses, Waste4Change and BayWa r. e., that shared their experiences and how they are contributing towards sustainable development.

Overall, the seminar provided valuable insights into how innovation has led to clean-tech revolution and is driving sustainability.

 

[RECAP] Women in Blockchain

Last Thursday, Asosiasi Blockchain Indonesia hosted an all-woman panel discussion on practical blockchain applications from industry experts with Meredith from ANGIN and Connector.ID as moderator. Speakers included Pandu Sastrowardoyo of Blockchain Zoo, Daphne Ng of Singapore Blockchain Association (ACCESS), and Merlina Li of Indonesia Blockchain Network shared their thoughts. If you couldn’t make it, don’t worry; here are the top four takeaways and main points of the discussion:

  1. Blockchain is for women! The panelists pointed out that blockchain technology and its accompanying community are well-suited towards women. Whereas other nascent technologies at the time (i.e. big data) involved big risk with intangible or uncertain reward, blockchain is something built upon years of existing technology with monetary value and actual application. Blockchain communities and fellow “blockchain bros” have also been more supportive of women than their counterparts in, say, the data science field, according to the panelists.
  2. Blockchain is not sexy: You should view Blockchain as a technology tool that will be part of your solution. Maybe 20-30% of your product will have blockchain aspects, but the rest will be other vital components such as user experience, marketing, business model, team, etc. Just because you have a blockchain startup does not mean you can ignore the other considerations of your company.
  3. Blockchain and social impact go hand in hand: The use cases for blockchain largely involve socially impactful causes. Examples include supply chain logistics to encourage fair labor conditions, creating tokens for supporting refugee relief projects, and renewable energy among others.
  4. Blockchain both creates and requires more efficient and transparent systems: Blockchain has the capability of creating a more transparent society; transactions cannot be erased or duplicated on the blockchain, making it ideal for use cases like medical records, digital identities, and crossborder transactions (among others). However, this also requires a world where adopters are willing to be transparent. For instance, a hospital adopting blockchain technology for medical records must be comfortable with the implications – transparency in treatments and patient medical history, risking patient realization of possible medical malpractice. While this should encourage more cautious medical practice, it is easier for hospitals to simply refuse to be transparent. Thus, while the technology may exist, the market may not be willing or ready for the adoption of the technology.
  5. The future of blockchain is bright in Indonesia: Indonesia’s large population and friendlier regulations make for a great market opportunity for blockchain startups. Whereas in Singapore blockchain solutions must compete with other existing and established solutions, there is no such thing in Indonesia. An example is a centralized medical record system – something Singapore already has, but something Indonesia lacks. Therefore, a blockchain solution may face more resistance being adopted in Singapore versus in Indonesia, where the market is craving that solution.

ANGIN and Connector.ID are happy to have played a part in this fruitful discussion on the future of blockchain technology, especially as it pertains to Indonesia. We hope to continue being a part of these events in the future and look forward to the next one!