MBAN spreads wings with BANSEA to lift angel investing
By Digital News Asia July 9, 2014
- To mutually support development of angel activity between Singapore & Malaysia
- Workshops and networking sessions scheduled for the next six months
THE Malaysian Business Angels Network (MBAN) has signed a memorandum of understanding (MoU) with Business Angel Network Southeast Asia (BANSEA) to further support the development of angel investors in Malaysia and Singapore.
This is the second MBAN has signed with an international business angels network following the MoU with the European Business Angels Network (EBAN) which was sealed last October.
Under the MoU, both parties will commit to mutually support the development of business angel activity between the neighbouring countries and make efforts in fostering cross border investments among its respective members.
Douglas Abrams, BANSEA chairman expressed excitement over the arrangement and sees significant benefits for the angel communities in Malaysia and Singapore.
“Successful angel investing is based on providing high potential start-ups with capital and mentorship. Enlarging our respective geographical reach will provide each of us with more high-potential start-ups to invest in and will provide the start-ups with access to more capital and expertise,” he said.
MBAN chairman, Richard Wong (pic) said the memorandum with BANSEA is “another progressive initiative” by the local business angels trade association to develop more strategic alliances with other overseas business angel networks to help and support Malaysia to build a vibrant start-up ecosystem.
“MBAN and BANSEA can help to facilitate deal flows and networking opportunities among members from both sides of the causeway and through its extensive network, which it has built since BANSEA was established 13 years ago, it can also help MBAN members with connections to angel groups in China, India and Thailand,” he added.
Abrams also described the Malaysian business angels and start-up communities as having tremendous potential.
“In my recent visits to Malaysia, I have seen many promising start-ups and quality angel investors. I think that both of our communities will be able to learn from one another and that we can achieve great things together,” he said.
Abrams added the MOU will open the opportunity for both business angels groups to benefit from each other’s knowledge and experience about angel investing.
“There are clear synergies between the angel communities in Singapore and Malaysia. Together we will each be better able to fulfil our mission to bring together angel investors and high-potential start-ups,” he said.
MBAN and BANSEA are preparing to tighten the connections between Malaysian and Singaporean business angels through workshops and networking sessions scheduled for the next six months.
These include a half-day workshop themed Think like a VC which aims to equip the potential angel investors with the right skills of investing and nurturing successful companies and a full day networking session where angels from both MBAN and BANSEA will also be introduced to Malaysian start-ups hoping for further investments to support their business growth.