Singapore tech vet sets up women angel network that’ll power a $2m fund for startups

Photo credit: Startup Asia Women / Branding In Asia

Having held positions at companies such as IBM, Acer, 3Com, Yahoo, and UK carrier O2, Christina Teo learned firsthand that the startup landscape could be “fascinating but rather scary” to those who are new to it.

“And to startups, corporates can be intimidating,” says Teo, who returned to Singapore in 2016 after a 20-year corporate stint overseas.

That same year, she established Startup Asia Women, a community of women in startups, followed by WomenChangemakers, which showcases corporate female role models.

Today, she rolls out her third brainchild, She1K, which she claims is the world’s first invitation-only network of high-powered female executives who want to foray into private investing.

She1K aims to rally 1,000 members with a minimum contribution of US$1,000 each in 2018, rising to US$2,000 in 2019. If it meets its target, it will be pooling at least US$2 million per annum starting next year. The money will go into a fund, which will invest in seed-stage startups in exchange for equity.

Partnerships are key

She1K wants to introduce C-suite women from various industries across the globe to “smooth and stress-free” angel investing.

A report by Women Business Angels for Europe’s Entrepreneurs, which represents a consortium of organizations from six European countries, says many women investors are not investing in syndicates. This may reflect a lack of opportunity to join women-friendly groups or a lack of understanding of how syndicated investments can mitigate risk. Many of them also reportedly don’t understand the core process of angel investing, believing that it is for the super-rich.

She1K wants to change that by helping corporate women keep up-to-date with the latest tech innovations, and connecting them with experienced investors.

For example, the network will work with syndicates such as AngelCentral in Singapore and global accelerators such as Antler when it comes to startup scouting and due diligence.

“Partnerships are key as we do not believe in reinventing the wheel. In most countries, there already exists a robust startup ecosystem comprising accelerators, VCs, other angel funds, global startup competitions,” Teo explains.

Support for both female and male founders

At the same time, She1K recognizes the massive value-add women executives can offer startups.

To this end, the network seeks to become more than just a financial backer. Its members will play an active role in the journey of the startups it selects. They can do this by taking a seat on the company board, sharing industry-specific insights and connections, and assisting with market-fit validation.

“We must champion startups and their founders in order to give these companies traction to scale and achieve success – not just write them a check in the hope of turning a profit,” contends Teo.