BANSEA ONE, an angel investing project launched in June, makes seed investments of up-to US$50,000

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Business Angel Network South East Asia (BANSEA), an agency dedicated to developing angel investing in Southeast Asia, announced yesterday it has partnered with Infocomm Investments Pte. Ltd. (IIPL), a subsidiary investment arm of The Infocomm Development Authority (IDA) of Singapore.

According to Dr. Alex Lin, Head of IIPL, the firm is partnering with BANSEA in order to find potential start-ups for seed investments.

This could be music to the ears of startups in the region as IIPL manages a fund of US$200 million.

“A few years back, we would have been ‘hunting’ for start-ups. Providing seed investment into some of these young companies continues to support their growth not just financially, but more importantly, in our combined resources in networks and mentorship,” said Lin in a statement.

Also Read: Spreading wings: Singapore’s Fundnel partners with regional angel network BANSEA

The partnership is part of the BANSEA ONE project launched in on June 6 in which the agency is looking to make seed investments of up-to US$50,000 into startups.

“The start-ups that BANSEA ONE invest in will get to leverage on the knowledge, skills and broad networks of our members. The ability to count on IIPL’s option to co-invest gives us and the companies we support significant and sustainable long term added value,” said Dr. Mark Hon, Chairman of BANSEA, in a statement.

Also Read: Why your startup needs a partner NOW!

IIPL is coming off a big win recently as its portfolio company, Silicon Valley’s Twilio, went public in late-June (the most significant tech IPO to date in 2016).

In late-June, BANSEA also partnered with the crowdfunding platform Fundel as part of BANSEA ONE.

Headquartered in Singapore, BANSEA is a network of established investors across Southeast Asia with the goal of fostering “a vibrant startup ecosystem in which angel investors fund entrepreneurs who eventually become angels themselves”.

Photo courtesy of Pixabay.

 

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