MDI Ventures unveils new angel network
The livestreaming platform will use the capital to improve user experience by investing in product development and expanding its network of streamers.
Gox co-founder Jack Lontoh highlighted that Indonesia’s streaming industry is “heavily underpenetrated” compared to mature markets such as China and the US.
“Considering the large number of young people in the country, Indonesia has the potential to be a massive market,” he said in a statement.
Meanwhile, MDI is looking to close more deals through eMerge. It has already shared as many as 30 deals with the angel network’s members, and it is in the process of closing several deals.
The eMerge network currently consists of 60 angel investors, whose backgrounds range from startup founders to conglomerate owners.
Members of the eMerge network can invest in startups through a syndication model. This will see MDI consolidating interested angel investors into a single special purpose vehicle. Apart from this, members of the network can also become co-investors in other deals alongside MDI.
“The creation of eMerge has completed the MDI investment thesis as an end-to-end investment ecosystem for startups. We are very happy to have many industry experts joining our network,” Sarah Usman, partner at eMerge, said in a statement.