ANGIN’s Angel Investor: Mardianto E. Danusaputro

Welcoming our new Angel, Mardianto E. Danusaputro

Mardianto E. Danusaputro is Chief Executive Officer of Mandiri Capital Indonesia (MCI), the corporate venture capital subsidiary of PT. Bank Mandiri (Persero) Tbk. MCI aims to provide equity funding for regional start-ups, with focus on the fintech sector. Eddi has more than 20 year’s working experience in various sectors, including consumer goods (at Procter & Gamble), management consulting (at AT Kearney and Booz Allen Hamilton) and financial services (including Morgan Stanley), whereby the majority of his work experience was in Singapore. In addition to working at large corporations, Eddi also has experience as an angel investor and social entrepreneur. Eddi graduated with a Bachelor’s degree in Economics from Gadjah Mada University in Yogyakarta and also has a MBA degree from Duke University, USA and a Doctorate in Management from Universitas Indonesia.

Laurentia Melinda: ANGIN Angel & Head of Business Development at NamWest

Tell us a bit about yourself.

My name is Laurentia Melinda and I am in charge of business development at my company, NamWest. I am also a recent ANGIN angel.

So I started out majoring in communications; at first I didn’t really look into the agriculture industry. I was thinking more on the lines of banking and consulting. But once I came back to Indonesia, I noticed how many issues there really are, especially in the fields and with farmers. They’re the ones who are supposed to have a better quality of living than those of us living in the city because they are the ones who produce everything. Things we cannot live without, things that our are staples, like rice. It’s all their work, you know. Even right now, if you asked me to plant something like rice, I can’t do that. It takes real skill.

These farmers should be helped by us in the city, but they have no connections to urbanites. Their lack of a network means that they are inherently out of the picture – out of sight and out of mind – even when they play such an important role. We should really appreciate them more – their hard work, their skill, and the role they play in our society.

Why did you join ANGIN?

I joined ANGIN because I am a representative of my company and I wanted to get more in touch with the agri-startups in Indonesia. For example, there is a boom in agritech and I want to create partnerships and possibly invest in those kinds of startups. We are currently partnering with a few startups right now and we want to do more mentorship for them, since they may be relatively new on the agriculture business side. Maybe my company can contribute to their development.

I’m excited by how ANGIN is so connected with a wide variety of startups, especially on the agriculture side. ANGIN has a lot of portfolios and connections that could help startups be exposed to other companies. Maybe we can also get exposed to other fields other than agriculture for diversification.

Agriculture is oftentimes seen as a more traditional industry. What about it makes you, a young urbanite, become so excited about agriculture in Indonesia?

I think the new generation in Indonesia is starting to shift to a more metropolitan, urban lifestyle. All the farmers in Indonesia are starting to age or have already aged quite significantly, whereas their children and grandchildren are rarely carrying out the same jobs as they are. These farmers are seeing a shift away from what they hold so dearly to. So, I think in the long run we clearly need more farmers, even though there are bound to be technological breakthroughs in the field of agriculture like vertical farming and smart farming. At the same time, there should be a we need to continue the traditional kind of farming that we all know for the sustainability of our food and the future of our welfare.

It’s important to live the life of an outsider to gain perspective and insight into what life is really like for different kinds of people. The farmers are all outliers and outsiders to us urbanites because they don’t have the kinds of privileges that we do. They live extremely modestly, they eat very modestly. Sometimes they don’t even wear shoes, sandals or slippers. They never wear shirts that are ironed. And despite this, they are confident in who they are.

How is it being a young woman in the agriculture space, which is predominantly male?

Yeah, when I first stepped into the field it was difficult. It was a major culture shock. When we are living in the city, we are living an extremely superficial life – and a very good life, because we can get all the things that we want with such ease. Things such as air conditioning are regarded to us as a given, but it’s never been a privilege on the field or in a village. Right now, female status in the field is very rare, and the sheer number of women working on the field is also very little. But despite these numbers, we females are capable of working in agriculture.

Even now, people look at me weirdly because I am female. For instance, I was the only female attending a farmers’ meeting; even my own team is mostly male. The men basically just kept staring at me and they didn’t want to talk to me at all. Honestly at first I didn’t know what to say to them either. So instead, I conducted more interpersonal and in-depth talks. These helped a lot. I basically used that ‘nurturing’ quality we all possess as women to understand the farmers better.

How do you get past that initial bias that people might have against females doing agricultural work?

I think right now I’m more confident in the field, because my attitude towards it all is, “Oh I’m female. So what? So whatever!” I’ve feel extremely comfortable and carefree in my gender because I want to make sure everyone knows that as females we can still be on the field, getting dirty. We don’t always have to wear nice clothes with our hair done, looking all tidy. It’s a lot about being down to earth and in touch with nature, which is something most people in the city never get to be.

Has there ever been a moment on the field that really validated the fact that this is your life path, that working in agriculture is what you want to do?

There was a moment when I was in the fields. We all had to take our shoes off and replace them with special boots. It was very tiring to get the plantation done. Even picking up the harvest is challenging – it is overall an extremely tough job. I had no idea it would be so hard. To put it simply, it was all just very hot, very humid, and very dirty. But it was really touching how the farmers were living such modest lives. They were very low-key, and yet they were still eager to do their underappreciated and highly tedious work. They are literally the epitome of hard work; they wake up extremely early, go to the farm, work the fields, and repeat this every single day.

What’s more, during Lebaran the farmers don’t even take a break. I know this because while I was on break, my WhatsApp group with the farmers was still extremely active. They would mention that they were watering the plants, or that they were planting new crops while the rest of the country was on vacation. Lebaran is literally their only break all year, and yet they choose to work because they were afraid of turning their back on their crops. That’s real dedication.

Do you have any role models in the agriculture industry?

I think, Siti Mudaya and Ibu Susi are big role models for me ecause they’re females and they’re extremely dominant in their fields. They’re both part of male-dominated industries, but they remain humble about how far they’ve gone and how much they’ve achieved. Another inspiring person is Ibu Noni from Blue Bird Group, who is also one of ANGIN’s angels. Indonesia is currently developing rapidly, and sometimes it seems like the older role models are fading away with time. But women like her innovate and manage to integrate themselves into the ever-changing world. An example of this is how Blue Bird merged with GO-JEK to create a taxi platform on the transportation application. This is fascinating to me, and I am constantly learning from them.

What advice do you have for other women like yourself who would like to join the agriculture space? The ones who are ready to get their hands dirty and get into the fields?

I guess the first thing I would advise these women is to not be shocked when you notice that discrimination still exists in this industry. And in terms of things that are more physical in nature, be ready to get into the soil and make sure you visit the fields. Getting your hands dirty is very important because that’s the best way you will be able to manage and control the projects you are working on. In terms of expectations, let go of the idea that working on the field will be anything like working in the city. You definitely won’t have an office life.

You’re young, you’re talented, you’re female, and you’re a part of this new generation of people who are really taking charge — people who are becoming angel investors. What message do you have for other young women like yourself who want to take on leadership roles?

I think more females should have a social impact and make a bigger difference by giving back to society. And especially in the agricultural industry. For me, it’s all about giving back. It is intrinsically very fulfilling. So, my message to other girls is that you should dream big, and as a female don’t fall into the stereotype of having a housewife life. Make sure you start working towards your goals early.

[RECAP] Teja Ventures x ANGIN – Gender Lens Investing: The Largest Arbitrage Opportunity Across Asia

Freeware Spaces was packed with startup ecosystem players on Tuesday, August 7th, mingling over dinner and excited to learn about a burgeoning topic: gender lens investing. One of ANGIN’s very own angels, Virginia Tan, the founder of Teja Ventures, spoke on the fine details of gender lens investment and why investors in China are blazing the way forward on this risk-mitigation, profit-friendly investment thesis. Joining her were accomplished speakers from the startup and VC space: Melina Subastian of Alpha JWC Ventures, Dea Surjadi of Golden Gate Ventures, and Florian Holm, former co-CEO of Lazada Indonesia.

Here are a few key takeaways from the event:

  1. Gender Lens Investment doesn’t just mean investing in female founders: You can invest in a male founder using gender lens as well. In fact, the entire founding team could be male. They just have to understand and effectively capture female users.
  2. Industries with largely women consumers are highly lucrative: And that doesn’t just mean period apps and baby diapers. Fintech and lending are words that people don’t necessarily associate with gender, but makes sense to view under a gender lens. After all, women and men borrow for very different reasons – women usually to provide for their families and increase the well-being of their communities. And because of this and other factors, repayment rates are higher amongst female borrowers. This boils down to risk management, plain and simple. Are most of your borrowers male? That becomes a risk. Female? You might have a higher chance of survival as a lender.
  3. The Chinese have gender lens investment down to an art: But funnily enough, “gender lens investment” is not a concept in China. Why? The Chinese are highly pragmatic and see business as business. If women-led businesses are less risky, if women-targeted industries are more lucrative, then money will naturally flow to these. It is already understood that, for instance, new mothers are some of the biggest spenders, and that women tend to spend heavily on education, for instance. That’s why edtech is hot in China. They just get it.
  4. The Indonesian market may be early, which means now is the time: Gender lens investment is a relatively new concept in many countries, Indonesia being no exception. While others are not looking, it is the perfect time now to jump in and start investing in industries and startups previously unconsidered or overlooked.

Both ANGIN and Teja Ventures would like to thank every single person for coming to our event. We are excited to host more events like these for our network, to start dialogues, and to encourage further mingling and connections to be made. Stay tuned for our next event!

About Teja Ventures:

Teja Ventures is the first venture capital fund committed to investing with a gender lens across Asia. It will focus on investing in companies in China and South East Asia, leveraging on synergies between the two geographies. In addition to objective investment criteria, the gender lens it employs targets businesses which are either women-led, focus on women consumer-led markets, or which create positive impact on women in the wider ecosystem. The fund will focus on investment opportunities in the financial inclusion / fintech, consumption, edtech and content economy verticals.

ANGIN’s Angel Investor: Pierre Martensson and Stig Traavik

Welcoming our new Angels, Pierre Martensson and Stig Traavik

Pierre Martensson

Pierre is the former SVP & Head of International Expansion at Tapad. He successfully managed complex turnaround operations of large organisations in the US, APAC, Europe and South Africa within the Industries of Big Data, Social Media, Ad Tech, Retail, FMCG, Digital Media, Direct Sales, Telecom and e-commerce. He has experience in being CEO and Managing Director of multiple companies across sectors.

Stig Traavik

Stig is the former ambassador of Norway to Indonesia and ASEAN.  He has 20 years experience on the highest levels of international affairs, including as Chief of Staff in the Norwegian Ministry of Foreign Affairs. Stig is also a former Judo Olympian and six times national champion. He is passionate about sports for all, currently coaching the Indonesian Paralympic Judo Team.

[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] UBS x ANGIN Empowering Women High Tea

On 4 April, 2018, ANGIN co-hosted a high tea event with UBS Unique. The event was a chance for attendees to gain greater insight into the world of impact investing and gender-lens investment. Tracey Woon of UBS moderated the discussion – two presentations and a fireside chat with James Gifford, CIO & Head of Impact Investing at UBS, and Shinta Kamdani, CEO of Sintesa Group and Founder of ANGIN.
James Gifford spoke of the many ways that the next generation could have an impact on investment activities, as well as how the world is changing to reward sustainable businesses and punish ones that do harm. Meanwhile, Shinta Kamdani gave a presentation on the strides that ANGIN has taken in women’s empowerment: from the Women Fund to empowering women through Women’s Spotlight, ANGIN has shown a track record of dedication to supporting women throughout the Indonesian startup ecosystem.
The high tea was filled with buzz, networking, and conversations on responsible and sustainable investment. We hope that some of the discussions at the event will lead to concrete actions in both the Indonesian and Singaporean investment ecosystems. ANGIN is looking forward to hosting more productive and insightful events with our friends at UBS Unique in the future.

[RECAP] Universitas AMIKOM Yogyakarta x ANGIN

On April 9 – 10, Meredith Peng from Connector.ID and Nadira Dinisari from ANGIN were invited as guest speakers at Universitas AMIKOM Yogyakarta Career Day. Bringing up the subject on how to be a successful entrepreneur and professional, Meredith talked about how entrepreneurship can be done in all aspects of life while Nadira shared her hacks on how to be more happy at work.

Meredith’s talk pointed out ten ways to be entrepreneurial in everyday life: from staying mindful to constant learning, realizing your founder-market fit and not shying away from mentorship and help. These tips can be applied not only to entrepreneurs but really anyone who has an entrepreneurial mindset in constantly creating and taking ownership of one’s life.

The strongest point from Nadira’s discussion is how important it is to be grateful even for the little things. A grateful heart will lead to being happy in work, and subsequently in life. Counting our blessings is one of the sure fire way to be grateful each day. Another important point is that it is important to know why you’re doing what you’re doing. It serves as a purpose that would always guide you back to your path, be it in your career or life in general.

Aside from speaking to the soon-to-be graduates, Meredith and Nadira also met with promising startups and entrepreneurs that are part of the AMIKOM Incubation Program. It was refreshing to see the ideas that these university students have come up with. As ANGIN, we hope that this is only the start to mark our presence there. In the future, we aim to expand our ecosystem to Yogyakarta and other cities in Indonesia as well.

 

[RECAP] GIST x ANGIN Angel Investor Training

ANGIN is proud to have partnered with the US State Department, GIST, and VentureWell in creating the first GIST Investors training to angel investors in Indonesia.
The full day training was packed with many topics covering areas of Investment Process Deep Dive, Valuations, Terms, & Negotiations and Gender Lens Investment with speakers: Claire Ruffing from U.S. Department of State, Eli Velasquez from VentureWell,  Gwen Edwards from Angel Resource Institute (ARI), Ramphis Castro from ScienceVest and Melissa Bradley from Project 500.
Some key takeaways from the training:

  • Indonesia has plenty of opportunities – young demographic with no shortage of capital.  The challenge is to educate investors about the opportunities abound in startups. Gwen said that it is about finding the next “unicorn” and lots of “gazelles.”
  • It is important to diversify your portfolio. As Gwen Edwards put it, having 20 investments in your portfolio is about the right number. One cannot complain about the pitfalls of angel investment if one only invests in one startup. After all, angel investment is comparable to investing in the stock market. Don’t put all of your eggs in one basket.
  • It can take up to 10 years for an angel investor to see significant return from their portfolio. Angel investment is not a quick process; you must nurture and grow the companies you are investing in; some may fail, some may exit, but the process will be different every time and hopefully very rewarding.
  • As an investor, one should carefully craft their investment thesis. This is represented by a few criteria that will define the parameters of your investment. Having an investment thesis is also a marketing tool for yourself, as other angel investors or networks will begin to direct deals that match with your thesis to you once you are known for your thesis.
  • From Virginia Tan: gender-lens investing isn’t necessarily just “social” — it’s also extremely profitable. From her experience, women-led startups have not only been profitable but have also been more consistent with projections. Male entrepreneurs tend to pitch very well but the numbers show a bigger gap in performance versus projection.

The GIST Investor training on 5 April 2018 is the first and just the beginning of many more training and other programs. We look forward to a continued collaboration with GIST in bringing quality events to Indonesia and in providing resources to our angel network and beyond.

[RECAP] ANGIN Angel Investors at the IMF Gathering of Thought Leaders

Last week, three of our angel investors were invited to IMF Gathering of Thought Leaders Lunch with the IMF Managing Director Christine Lagarde. With 10 other leaders, they discussed how business should be more inclusive for women and how sustainable development must include women as part of its main actor.

Shinta Kamdani CEO of Sintesa Group, Mari Elka Pangestu former Minister of Trade in Indonesia, and Svida Alisjahbana CEO of Femina Group were all in attendance and had a productive and lively time at the lunch. We are honored to have had our angels invited to this event, and hope that more opportunities for public-private partnerships to help the world’s most underserved are in store for the future.

 

Ibu Shinta Kamdani: CEO of Sintesa Group and Co-Founder of ANGIN

From Indonesia Tatler Website: //www.indonesiatatler.com/society/shinta-kamdani-on-being-indonesia-s-influential-business-leader 

Shinta Kamdani On Being Indonesia’s Influential Business Leader

Shinta Kamdani, CEO of Sintesa Group, sits down with Indonesia Tatler to talk about her journey to become one of Indonesia’s most influential business leaders. 

The journey to get to where she is has been a long and arduous one. Knowing all along that she would one day be handed the reins of the family business started by her grandfather, Shinta Kamdani had to do everything in her power and more to prove to herself and her parents that she had what it took to lead the company.

Despite being born into a family of entrepreneurs, the third generation heir of the family business started her illustrious career at the very bottom. And proved to them she did. Today, Shinta is the CEO of Sintesa Group, a conglomerate of 17 distinct companies, unified under one banner by Shinta herself.
The family business started as a rubber plantation in 1919 established by Shinta’s grandfather, Oey Kim Tjiang. It then shifted its focus to trading in 1959 when her father, Johnny Widjaja, took over. At that point, it was only a matter of time before Shinta would be handed over the reins. Shinta remembered the times during her primary school years when she would help out at her father’s office, even if it was in the smallest capacity. It was when she was 13 that Shinta got her first experience of trading: selling books door-to-door. Through the successes and failures of the experience, Shinta was determined to push on and gather as much knowledge and experience as possible. No school vacation since then had gone by without Shinta doing some form of work. The trend continued on to her university days, where she would intern at various companies during term breaks.
Having garnered experience at various companies, Shinta immediately began her career at the family business, as a promotion and marketing staff at one of the subsidiaries focusing on consumer products. Despite being the owner’s daughter, she did not receive any form of special treatments. It took years of hard work and putting in plenty of extra effort before she got her first promotion. Shinta was extremely proud of this promotion as years of hard work had finally paid off. No one could take it away from her as she had done it all by her own two hands.

The biggest breakthrough for Shinta came a few years later when she proposed the concept of unifying the numerous independently operating companies under one holding company. Her time in the company had made her able to view its operations from a different perspective, thus identifying the areas which needed improvement. She had finally risen through the ranks and made it into a leadership role.
Today, Sintesa Group is led by a professional management team, with Shinta as its leader. As CEO, Shinta states that the three most important roles for her as CEO are to provide a vision for the future, and to serve and empower the employees. Shinta understands very well that under the new structure, the people working for, and with the company, are the most important components for success.
She learned from a young age to always put her feet on the ground and never to take things for granted. “You have to appreciate the little things. It is important to know that at any time, all our material possessions could be taken away. Always remember who you are, and where you came from,” said Shinta. Passion and discipline are the other two guiding principles that have gotten Shinta to where she is today. It is of utmost importance to love what you do, and to have the self-discipline to always give a hundred per cent. “I may not be the best at something, but I will always give it my best,” said Shinta.
Being in Shinta’s position comes with its own set of challenges and pressure. When she is met with particularly difficult challenges, Shinta likes to take time off alone. It is during this personal time free from distractions that she is able to find solutions, even to the toughest trials. When asked what it is specifically that she does during this time, Shinta had a succinct answer that needed no further explanation: “I dance.”
Outside of the family’s business, Shinta cares a great deal about the environment and the future of entrepreneurs in Indonesia. Shinta is an ardent supporter of the country’s thriving startup scene, and is always looking to help young and aspiring entrepreneurs achieve their goals. She is the founder ANGIN, GEPI, and IBCSD, and is the Vice-Chair of WWF Indonesia. ANGIN has become Indonesia’s largest network of angel investors, with a focus on funding and mentoring startups in Indonesia, while GEPI connects local entrepreneurs with global developments and investment prospects. The IBCSD is an association of companies committed to promoting sustainable development through sustainable economic growth, ecological balance and social progress.
Success can be difficult to define and is different from one individual to the other. With her multitude of responsibilities, Shinta sees success as being able to achieve a balancing act, and to have all aspects of her life exist in harmony. With so much on her plate, Shinta believes that the best way to find balance is to bring others along and share in the success. “An individual can only do so much, but together we can do so much more,” said Shinta.
While there is so much more that Shinta can share, it would be impossible to fit them all within these pages. In closing, Shinta emphasised once again the significance of never giving up, and to never be afraid of failure.
“In all that I do, if I never give up, if I continue fighting, then I will definitely make it. It pays to be daring, and to never give up. I have failed many times, and it is only because I choose to keep fighting that I am where I am today.”
This story appears in the January 2018 issue of Indonesia Tatler, for the full story, grab the copy at your nearest newsstands, or subscribe here.
[Text by: Kevin Sjahrial; Photographer: Heri N. Heryanto]

 

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