Founders of Kenangan, AyoConnect, others unveil new angel network in Indonesia

Several tech executives in Southeast Asia have formed a new angel investment network called Kopital Network, which will focus on Indonesia.

Some prominent names that have joined the network include:

• James Prananto, co-founder of Kenangan Brands (previously Kopi Kenangan)
• Agung Nugroho, co-founder of Kudo
• Hendra Kwik, founder of Number Capital
• Rohit Gulati, managing director and partner at BCG Singapore
• Jakob Rost, co-founder of AyoConnect

Founders and executives of prominent regional companies such as GoTo, Bukalapak, Grab, Xendit, Stockbit, Gokomodo, and Moka have also joined Kopital Network.

Photo credit: Kenangan Brands, Kudo, Number Capital, and AyoConnect

The network is currently managed by Fandy Cendrajaya, who also operates Kenangan Kapital – an angel investment fund that was set up by Kenangan Brand’s co-founders.

However, he confirmed to Tech in Asia that both Kopital Network and Kenangan Kapital are separate entities. Aside from having different members, the investment scheme also varies across the two firms as there is no fund size or exact ticket size for Kopital Network.

According to Cendrajaya, the network targets early-stage startups from all sectors, with investments as a group ranging from US$100,000 to US$1 million per deal. Kopital Network is open to angel investors from outside Indonesia, but it prefers to invest in local startups as the geography is “what our members feel they can add most value.”

“Kopital Network is looking for startups with clear problems and solutions in a blue-ocean market, clear path to profitability, and visionary-but-coachable founders with proven grit,” Cendrajaya told Tech in Asia.

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He shared that the idea for Kopital Network came from the interest of tech executives to guide new founders through the crisis and market downturns. These executives will also provide startups with their insights on product development, commercial partnerships, fundraising, team management, and personal growth.

“The variety of background and expertise from the network members also make it more inclusive to different types of startups, and the combination of it makes a superstar investor profile,” Cendrajaya added.