MDI Ventures, a corporate VC firm backed by Telkom Indonesia, has announced the launch of an angel investment network.
Called eMerge, the network aims to educate and attract high-net-worth individuals to invest in Indonesia’s early-stage tech startups. It allows angel investors to invest via a syndication model, under a special purpose vehicle (SPV), or co-invest with MDI and other pre-seed and seed-stage VCs.
The network has announced its first investment in GOX, an Indonesian gaming live streaming platform and community.
GOX taps into an industry plagued with limited monetisation features and the inefficiency of audience-streamer interactions.
“Comparing Indonesia’s streaming industry to more mature markets like China and the United States, which have 4 million and 3 million streamers respectively, the Indonesian market is heavily underpenetrated,” said Jack Lontoh, a co-founder of GOX.
GOX will utilise the new funds to improve the user experience, hence, boost its long-term revenue growth. The firm plans to work on new product development and grow its network of streamers.
Further details of the deals are not disclosed.
Also read: The pros and cons of signing on an angel investor for your startup
As per a press statement, more than 60 angel investors have joined eMerge’s member network. Beyond simply writing cheques, eMerge claims that its members can help portfolio companies grow and succeed with angel backgrounds ranging from startup founders to conglomerate owners.
MDI Ventures has shared more than 30 deals with the network. The firm is on track to ink several deals with participation from angel investors and other venture capital firms.
“The creation of eMerge has completed the MDI investment thesis as an end-to-end investment ecosystem for startups,” said Sarah Usman, partner of eMerge.
Launched in 2016, MDI Ventures is a CVC with US$830 million in assets under management. It provides startups with a range of opportunities to get plugged into Telkom Group’s businesses in telecoms, multimedia, property, financial services, and a network of other state-owned enterprises.
In August, Arise, a joint venture by MDI Ventures and Finch Capital, has announced the first close of its US$40-million debut fund, aiming to invest in 25 tech startups in the post-seed to pre-Series A stages in Southeast Asia for the next three years.
Earlier this month, blockchain and cryptocurrency infrastructure provider Binance also established a joint venture with a consortium of investors led by MDI Ventures to develop a new digital asset exchange in Indonesia.
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Image Credit: eMerge
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