ANGIN Provides Up to 1,5 Billion Rupiah per Startup
Hesti Pratiwi - 16 February 2015
Angel Investor Network Indonesia (ANGIN) re-opened the opportunity for entrepreneurs who are in need of fresh capital. Besides providing investments, ANGIN also gives mentoring and networking sessions, something which is really beneficial for startups. The registration phase would last until February 28, 2015.
The investment ranges from Rp 500 mill to Rp 1,5 bill, given in form of equity without any interest or collateral attached. The investment period would be from three to five years.
Being started since 2012, Angel Investment Network Indonesia is a program by Global Entrepreneurship Program Indonesia (GEPI) which focuses on startups’ initial growth by providing investment and mentoring sessions.
This non-profit organization is the very first official network of angel investors in Indonesia, consisting Indonesia’s successful female entrepreneurs like Shinta Kamdani, Nellie Akili, Tience Sumartini, Noni Purnomo, Lanny Angkosubroto, Gail Aluwi, Sheila Tiwan, Svida Alisjahbana, Lillie Tanmizi, Mee Kim, Ati Sugiharti, Cindy Djojonegoro, Magda Hutagalung, Millie Stephanie, and Tina Gunawan.
According to Novia Mandasari Uli Puspa (Via), GEPI’s Program Officer for ANGIN, a number of new angel investors have joined the squad, but their names remain undisclosed to public for the time being.
The current investment involves less money than the previous round, which provided up to $200 thousand. This, GEPI claimed, is based on review and survey that they made, which found out that in average, Indonesian startups need no more than what ANGIN offered. “That’s why GEPI adapts this time. This is intended to enable more startups to get investment as well,” Via said.
So far, ANGIN has provided seed funding to WangsaJelita, Berry Kitchen, and Marguerite Nougat. The latest recipient of the investment was Kakao Chocolate, Indonesian chocolate producer which buys chocolate directly from farmers in Lampung fairly.
To be able to join the funding, startups need to meet a number of criteria, which are: a firm and committed Indonesian citizen, being in the development or initial expansion phase, clear business plan, and focuses on consumer, technology, and has social implication, products. The registration phase would be open until February 28, in http://bit.ly/anginfund. Any inquiries should be posted to angin[at]gepi.co.