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Hello reader,
I’ve always thought being an angel investor was cool.
First of all, how much money do you need to have to be able to invest in someone else’s (probably) untested idea? I personally don’t have enough to invest in a new manicure sometimes.
Angels play an important role in the startup ecosystem – they often come in early on the startup journey, giving fledgling companies the funds they need to take the next step on their journeys. As individuals, they’re not held back by institutional requirements or processes, allowing them to make decisions and invest faster.
Today’s premium story focuses on these investors. My colleague Melissa takes a look at an exclusive angel network here in Southeast Asia, the role it plays in the ecosystem, and its plans for the future.
Today we look at:
- XA Network and its new ambitions
- Funding Societies’ latest fundraise (try saying that five times fast)
- Other newsy highlights such as Hong Kong’s approval of four new crypto exchanges and an autonomous trucking startup’s pivot into the creative industries
Premium summary
Send me an angel
Image credit: Timmy Loen
Meet XA Network, a member-only angel investment network for technologists in Southeast Asia. It focuses on high-quality deal flow and accepts only members who have significant personal assets or income, leadership experience in tech, or have founded a tech company.
- More than seed: Initially focused on early-stage startups, XA Network has expanded to include late-stage and pre-IPO rounds. It also invests in VC funds. The network says it provides hands-on support to portfolio companies, leveraging members’ expertise in various areas.
- Expanding the pool: While membership in XA Network is limited to tech executives, the network is tapping into new funding avenues. These include family offices – through its XA Enterprise tier – and accredited investors through a partnership with wealthtech platform StashAway.
- Beyond Southeast Asia: XA Network is expanding its reach beyond Southeast Asia, having recently launched XA Africa. Its next expansion target is Australia.
Read more: Exclusive angel club XA Network plots new ambitions
Startup spotlight
Funding for the funders
We’re taking a break, but you can still get ahead
Quick bytes
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