Angel Investment Network Indonesia

2011 Brewing Time

ANGIN was born as a project within a USAID-funded non-profit entity named GEPI (Global Entrepreneurship Program Indonesia). GEPI was formally established in January 2011 by a group of 13 prominent business leaders in Indonesia. GEPI was also part of a wider global initiative called the Global Entrepreneurship Program (GEP), which grew from an initiative of President Obama and former Secretary of State, Hillary Clinton. For the old souls of the industry, GEPI was the first accelerator and even coworking space operating in Indonesia. It supported some of the now successful startups such as GOJEK, which was awarded USD 10,000 from GEPI in 2011.

2016  The Creation of ANGIN

As a lot of grant-funded organizations, GEPI’s funding started to run out and discussions started to emerge on how to ensure a continuity of GEPI’s mission post-grant funding. In 2016, David Soukhasing supported by some GEPI Board Members saw an opportunity to spin off ANGIN from GEPI and turned ANGIN into a brand new for-profit venture. At that time, all the foundations needed to be built: The website, the logo, the team, and all of the process, but that was a unique challenge to tackle. ANGIN stand-alone was born in 2016!

2017  Surviving and Proving the Model

As with any early stage ventures, the first years were not an easy ride at all. We have to build everything from scratch. The bank account was empty and our team went through a lot of ups and downs: Searching for the right model, building a team with no budget, not having a proper office to save cash (we were using David’s apartment), scouting for our first clients and fighting for revenue…But this time brought us unique insights into the real life of being ourselves entrepreneurs.

2018  Seed Round Funding

Our team commitment and grit paid back: We grew our ANGIN to become the largest investor network in Indonesia, we successfully invested in more than 35 startups, and established ANGIN as a key component of the entrepreneurial space in Indonesia. Prominent clients, such as UNDP, OXFAM started to contract us to support their programs. In 2018, in order to speed up our execution, we raised our first seed round from three prominent Indonesian business leaders and 500 Startups, superstar VC from the US. This funding helped us to innovate new programs and new ventures (connector.id) to continuously bring more support to entrepreneurs and answer market needs.

2019  Innovate and Grow

We are excited by the perspective to continue growing beyond an investment platform. As entrepreneurs ourselves, we aim to design new impactful services to build more impact for the entire entrepreneurial ecosystem and our clients. ANGIN Advisory and our equity crowdfunding are signs of this commitment to grow further.