iSeed, the micro enterprise fund launched by the angel investor collective AngelList, has launched iSeed South East Asia, which can look to make seed-stage investments throughout Indonesia, Singapore, Vietnam, and Thailand, because it makes an attempt to money in on one of many world’s quickest-rising startup ecosystems.
The goal corpus of iSeed SEA has not been disclosed, as it’s nonetheless in fund-raising mode, however it’s anticipated to be comparable in dimension to iSeed India, a $5 million funding automobile led by Utsav Somani, who additionally leads AngelList India. iSeed India has struck about 12 investments so far whereas iSeed SEA has dedicated to about 4 investments up to now.
“The India example has been wildly successful, and we wanted to start researching the region, and think about potentially replicating that model..We talked to a bunch of investors and founders and got very excited about the region, and we built the conviction to start this fund together,” Wing Vasiksiri, managing companion at iSeed SEA informed ET in an unique chat.
The fund has raised capital from a bunch of excessive internet-price people, based mostly within the United State and in India, together with AngelList founder and Chairman Naval Ravikant, Snapdeal co-founders Kunal Bahl and Rohit Bansal, Thumbtack co-founder Jonathan Swanson, Deepak Shahdadpuri, managing director of early-stage shopper-centered funding agency DSG Consumer Partners and Matthew Dellavedova, who performs level guard for the Cleveland Cavaliers workforce within the National Basketball League, amongst others.
Some of the LPs have additionally invested in iSeed India, based on Vasiksiri.
“We are thinking about this fund as a proof of concept fund. Smaller funds are easier to return and it allows us to move much quicker and write smaller cheque sizes and still make it meaningful for the fund,” Vasiksiri said.
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iSeed SEA will write initial cheques of between $100,000-$250,000, and will look to make up to 30 investments from the first fund. The sector-agnostic fund will target placing bets across the consumer, healthcare, enterprise SaaS. The preference is for companies underpinned by technology.
Additionally, AngelList has emerged as one of the most active investor collectives in recent times. It has made about 140 investments, including backing several notable startups like BharatPe, Open Bank, DealShare, Mall91, Yulu Bikes, who have gone on to raise substantial amounts of growth capital.
“The next large opportunity that is being created is in South East Asia…the idea is to take an early look at promising companies. So, we thought, why not productise the whole thing, and raise a small fund?” Somani said.