With an investment in GOX, MDI Ventures starts the eMerge angel investment network
MDI Ventures, a Telkom Indonesia-backed corporate venture capital firm, has announced the opening of an angel investing network.
The eMerge network attempts to educate and recruit high-net-worth people to invest in early-stage tech firms in Indonesia. It enables angel investors to participate in syndication, invest through a special purpose vehicle (SPV), or co-invest with MDI and other pre-seed and seed-stage venture capital firms.
The network has made its first investment in GOX, an Indonesian gaming community and live streaming platform. GOX capitalises on a market with limited monetisation capabilities and inefficient audience-streamer interactions.
The extra cash will be used to improve the user experience and hence promote GOX’s long-term revenue growth. The company intends to concentrate on new product development and expand its streamer network. The transactions’ specifics have not been revealed.
“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.
More than 60 angel investors have joined eMerge’s member network, according to a news release. With angel backgrounds spanning from startup founders to conglomerate leaders, eMerge promises that its members can assist portfolio firms develop and prosper beyond merely signing checks.
More than 30 agreements have been shared with the network by MDI Ventures. Angel investors and other venture capital companies are expected to participate in numerous of the firm’s projects.
MDI Ventures is a CVC that was founded in 2016 and manages $830 million in assets. It gives entrepreneurs a variety of ways to connect with Telkom Group’s companies in telecommunications, multimedia, real estate, financial services, and a network of other state-owned industries.
“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.
Arise, a joint venture between MDI Ventures and Finch Capital, announced the first closing of its US$40 million debut fund in August, with the goal of investing in 25 Southeast Asian digital entrepreneurs in the post-seed to pre-Series A stages over the following three years.
Binance, a blockchain and cryptocurrency infrastructure provider, also formed a joint venture with a group of investors led by MDI Ventures to launch a new digital asset exchange in Indonesia earlier this month.
