Indonesia’s ANGIN will introduce second startup fund by mid-year

The ANGIN fund is known in Indonesia as a fund dedicated to early stage investments in women-led startups. ANGIN stands for Angel Investment Network Indonesia. It’s comprised of a group of female angel investors, among them Indonesian women in leading positions such as Shinta Kamdani, CEO of Sintesa Group; Svida Alisjahbana, CEO of Femina Group; and Noni Purnomo, president director of Bluebird Group.

ANGIN is part of the programs offered by GEPI, which also includes a startup incubator and co-working space in Jakarta.

Since its inception in 2012, ANGIN has backed three entrepreneurs: Nadya Saib of natural cosmetics producer Wangsa Jelita, Cynthia Tenggara of lunchbox delivery service Berry Kitchen, and Claudia Syanny Latif of nougat sweets manufacturer Maguerite Nougat.

See: 10 women entrepreneurs in Indonesia who smashed the glass ceiling

What unites the businesses in ANGIN’s current portfolio is their focus on consumer goods. Though all three businesses have a digital platform component for ordering and payment, they are not primarily tech-driven.

Surya Darmadi ANGIN’s Program Manager, explains that this focus resonates most with the professional experience of the angels. Since they don’t have a specific background in tech, they feel their support and mentorship best benefits young entrepreneurs in the consumer goods segment. “For example, one of our angels has experience in hotels, so she can support cosmetics producers to find distribution channels through hotels or spas,” says Darmadi.

Darmadi also says that ANGIN is ready to announce its fourth female-led startup investment soon, likely within the next two weeks.

But that’s not the only news from ANGIN. Acknowledging that the focus on women and consumer products is important but at the same time limiting, ANGIN is setting up an additional fund, backed by a second group of angels, within the upcoming months. An official announcement can be expected by May or June of this year, according to Darmadi. This announcement will also make public the names of the angels in this second ANGIN network.

Like the ANGIN fund for women, the new fund will look at early stage seed investment of between US$10,000 and US$50,000. But, bringing in the experience of new angels, this fund will be able to better accommodate startups centered around technological solutions. The fund will also not be limited to women founders.