Founded in 2013, ANGIN claimed to have 70 angel investors in its network who have invested in 33 ventures over the last two years

Indonesian angel investor network ANGIN today announced that it has raised an undisclosed seed funding round from Silicon Valley-based venture capital firm 500 Startups in May.

Sintesa Group CEO Shinta Kamdani, Cardig International CEO Diono Nurjadin, and Alpha JWC Managing Director and Co-Founder Jefrey Joe were also named as investors in the funding round.

In an email to e27, ANGIN Managing Director David Soukhasing explained that the funding will be used to:

1. Expand the team to answer the need of a the organisation’s growing client base and institutional partnership requests.

2. Develop products by leveraging its Connector.id platform, which connects entrepreneurs with potential investors.

3. Develop new services to support the ecosystem. Soukhasing hinted that the organisation is going to release “educational tools [with] rich content” in July.

4. Expand its presence across Indonesia, to cities such as Medan, Surabaya, and Denpasar.

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Founded in 2013, ANGIN claimed to have 70 angel investors in its network who have invested in 33 ventures over the last two years. Indonesian startups that have raised investment from ANGIN includes Qontak and Berry Kitchen.

The organisation has partnered with institutions such as the Indonesian creative economy agency (BEKRAF), the United Nations Development Programme (UNDP), Amazon Web Services, and OXFAM.

Starting off as an angel investment club, it also offers services such as consulting, technology, content, and research.

Its latest research was on the landscape of incubators, accelerators, ecosystem builders, and other start-up assistance organisations in Indonesia. The research identifies 53 programmes and provides insights into the participation of women entrepreneurs in these programmes.

In a press statement, 500 Startups Managing Partner Khailee Ng dubbed ANGIN’s work as “expansive” and that he was honoured to take part in the investment.

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Image Credit: ANGIN

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