Angel investors to give wings to Vietnamese start-ups

By Nhung Nguyen   June 20, 2016 | 06:52 pm GMT+7
Angel investors to give wings to Vietnamese start-ups
Startup teams working in Vietnam’s capital of Hanoi. Photo by IPP

Thirty Vietnamese start-ups are to receive incubation services provided by the network, which also aims to mentor 20 other companies for future development.

The Mekong Angel Investors Network (MAIN) officially launched in Vietnam at the inaugural Danang Start Up Fair on June 18, a joint effort between the Lotus Impact Fund and the Mekong Business Initiative (MBI).

"MAIN will facilitate the entry of foreign angels in Vietnam, match them with local groups and maximize links between angel groups and businesses," said Dominic Mellor, executive director of MBI, a development partnership between the Asian Development Bank and the Government of Australia aimed at accelerating growth in Cambodia, Laos, Myanmar and Vietnam. 

The network receives support from the Government of Australia and will be the first organization of its kind to invest in the Mekong sub-region’s start-ups.

"Angel investing is a vital source of risk or equity capital to start-ups and SMEs," added Mellor. "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 announcement was made at the Danang Start Up Fair that is part of the city's strategy to become a hub for start-ups in Vietnam. 

Vietnam is the second country in the region that MAIN has launched in following Cambodia.

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Dominic Mellor, executive director of MBI, addresses the Danang Start Up Fair on June 18.

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