Sorabel, Magpie founders join Monk’s Hill as venture partners

Monk’s Hill Ventures has named Lingga Madu and Huong Tran as its new venture partners.

Madu and Tran will be in charge of sourcing and executing deals in Indonesia and Vietnam, respectively, as well as working closely with the VC firm’s portfolio companies.

Lingga Madu (left) and Huong Tran / Photo credit: Tech in Asia

Madu is a founder of Sorabel, an Indonesian fashion ecommerce startup that closed in 2020, while Tran is the founder of US-based travel startup Magpie.

Sorabel raised around US$69 million in funding, according to ACRA filings. It was established by Madu and his wife Ariza Novianti in 2014.

After its shutdown two years ago, Berrybenka and Tokopedia scooped up Sorabel’s assets. Madu then became a well-known mentor for Indonesian startup founders.

“As a serial entrepreneur, Madu’s experience is an asset for building and deepening our presence in Indonesia. With a career spanning over 15 years as a developer, UX designer, and an executive, Madu personifies our operational DNA,” said Susli Lie, partner at Monk’s Hill Ventures.

Lie is the co-founder of education financing firm ErudiFi. She joined Monk’s Hill Ventures a year ago as a venture partner before being appointed as a partner earlier this year.

Meanwhile, Tran has 15 years of experience working for startups and enterprises in Silicon Valley and Southeast Asia. She previously worked for Unilever and Yahoo, and she led a new business unit at Vietnam-based fintech unicorn MoMo.

Monk’s Hill Ventures general partner Justin Nguyen said that Tran’s upbringing in Vietnam and experience in Silicon Valley gives her a unique perspective on how tech can change lives. “Combined with her experience as a founder, it makes her a natural fit for a firm of entrepreneurs backing entrepreneurs,” he added.

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Established by entrepreneurs Peng T. Ong and Kuo-Yi Lim in 2014, Monk’s Hill Ventures is an early-stage VC firm focused on Southeast Asia. It recently led the pre-series A round of Singapore-based corporate services platform Starboard.