AngelList’s India CEO Utsav Somani and its former top executive Wing Vasiksiri have joined hands together to launch a new micro-fund, targeting tech startups in Southeast Asia.
Christened iSeed SEA, the fund is an extension of iSeed India and counts a clutch of renowned investors and entrepreneurs among its backers, including Naval Ravikant (Founder & Chairman of AngelList), Kunal Bahl and Rohit Bansal (Co-founders of Snapdeal), and Jonathan Swanson (Founder & Chairman of Thumbtack).
“We have already hit the first close and are actively investing,” Managing Partner Vasiksiri told e27, without divulging more details. “We are sector-agnostic and primarily focusing on Indonesia, Singapore, Vietnam, and Thailand.”
So far, iSeed SEA has invested in two companies and committed to making four more investments. In total, the micro-fund plans to make 20-30 deals, with an average cheque size of US$100,000 per deal.
iSeed SEA has created a Knowledge Council of world-class operators to help its portfolio founders, said Vasiksiri. The council has Sriram Krishnan (ex-Product at Twitter), Prasanna Sankar (Co-founder of Rippling), Sahil Lavingia (Founder of Gumroad), and Anne Dwane (Founder of Village Global), amongst others. “They’ve committed to working with our portfolio founders to bring best practices from the US to India and Southeast Asia.”
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