SEA’s latest investors: startup founders

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Hello readers,

Did you know that some of Southeast Asia’s most recognizable startup founders are backing other startups in the region? If you really think about it, it’s a natural progression, but this development has largely flown under the radar.

Our premium story pick today has neatly packaged all the whos and whys of founders turning limited partners. And while we’re on the subject of startup funding, here’s a shoutout to all those looking for some investment inflow. Fundraising can be incredibly hard, so if you or somebody you know is going at it, fill out this form and we’ll help get the word out.

Today we look at,

• Founders in Southeast Asia donning the investor hat
• Singapore’s YouTrip raising funds to support its neobanking dream
• Other newsy highlights such as Carro’s US$100 million raise, and Big Tiny getting more dough to build tiny houses

Premium summary

Trendsetters Inc

Image credit: Timmy Loen

In a world where anything is possible, it doesn’t take much to turn an interest or a hobby into a side hustle. Or does it? Depends on who you ask, I guess. Take Vidit Agrawal, for instance: Despite having a leadership role at Carro and later in Stripe, Agrawal stayed tied to the startup ecosystem, investing in over 20 startups. Agrawal, the founder of Indonesia-based fintech platform GajiGesa, is part of a new breed of founders who are giving back to the ecosystem.

• All roads lead to startups: It’s a fairly new phenomenon in Southeast Asia to see founders double as limited partners. Besides Agrawal, other founders who’ve taken the investment route include Kopi Kenangan’s Edward Tirtanata, who has backed car service startup Otoklix and healthtech company Klinik Pintar. Fabelio’s Christian Sutardi is also a prolific angel investor in Indonesia. Hendra Kwik, co-founder of Indonesia-based fintech startup Payfazz, is also an LP and an angel investor.

• A step further : Some founders have even set up funds to back other startups. Kopi Kenangan’s founders run the Kenangan Fund, for instance. Bukalapak’s Achmad Zaky had also set up Init 6 fund soon after exiting the ecommerce unicorn that he had founded. This growing trend has mostly been spurred by exits and rising liquidity in the startup ecosystem.

• Fly in the ointment: A theoretical stumbling block is a potential conflict of interest when a fund manager invests in a direct or indirect competitor to one of its LPs. Even so, most are optimistic that this won’t be a hindrance and that more funds will see startup founders joining in on potential investments.

Read more: A new breed of VC limited partners in SEA: startup founders

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