Network to focus on providing assistance to startups in Mekong Sub-region.
The Mekong Business Initiative (MBI) and Lotus Impact worked together to launch the Mekong Angel Investors Network (MAIN) in Vietnam at the inaugural Danang Start Up Fair last weekend.
MAIN is the first organization of its kind to invest in Mekong Sub-region startups and will also provide incubation services with a goal of incubating 30 companies and mentoring 20. MAIN receives support from the Australian Government.
“Angel investing is a vital source of risk or equity capital to startups and SMEs,” said Mr. Dominic Mellor, Executive Director of MBI. “MAIN will facilitate the entry of foreign angels in Vietnam, match them with local groups, and maximize linkages between angel groups and businesses. We want to promote a culture of ethical investment across the Mekong Region.”
Angel investors committed to the MAIN network include Australian investors Benni Aroni and Adrian Stone, American investors David Beatty, June Choi, Victoria Elenowitz, Steve Landman, and Jimmy Steindecker, European investor Petra Kolesavora, and Vietnamese investors Dinh Thi Quynh Nhu, Nguyen Tien Trung and Phan Tuan Anh.
MAIN will recruit additional investors from Cambodia, Laos, and Myanmar.
The Danang Start Up Fair, a one-day exhibition and conference, was a milestone in Da Nang’s strategy to become a hub for startups in Vietnam. MBI was also a sponsor.
MBI is a development partnership between the Asian Development Bank and the Australian Government to accelerate growth in Cambodia, Laos, Myanmar and Vietnam. MBI believes that catalyzing sustainable business growth in the Mekong region will require innovation, flexibility, and a willingness to take risks.
Founded in 2013, Lotus Impact is Southeast Asia’s first impact investing asset management company that integrates incubation services and venture capital for SMEs.