AAA Confident Of Doubling Network Of Angel Investors

KUALA LUMPUR, Nov 1 (Bernama) -- The newly-established ASEAN Angel Alliance (AAA) is confident of doubling its network of angel investors from its existing 1,000 investors by end-2017. Its Malaysia's Representative, Dr Sivapalan Vivekarajah, said the grouping also believed it should be able to expand its respective network of angel investors significantly within three-five years from now. "The networks in all participating countries are expected to grow significantly. The emergence of equity crowdfunding platforms is positive and a lot of investment are already happening," he said at a press conference after the launch of the alliance here Tuesday. AAA consists of angel networks and investment groups from eight participating ASEAN countries which include Malaysia, Singapore, Indonesia, Thailand, the Philippines, Vietnam, Cambodia and Myanmar. Sivapalan, who is the President of The Malaysian Business Angels Network (MBAN), said AAA's presence in the ASEAN angel ecosystem will open up the network to a wider community of angels and champion angel investing across the region. "AAA will see the angel networks of member countries working together and contributing in some way to its objectives. "For instance, MBAN representing Malaysia has held a closed-door discussion with member groups where it shared its experience and knowledge in lobbying and securing the angel tax incentive for Malaysian angel investors," he said. MBAN, currently the official trade association and governing body for angel investors and angel clubs in Malaysia, has 140 registered investors and 60 portfolio companies. Sivapalan said most of MBAN's portfolio companies were technology start-ups as the sector was expected to record high growth, profit and valuation. "I believe there are at least 3,000 angel investors in Malaysia, with some of them do not want to be accredited because they are investing in non-technology companies, which don't entitle them to get tax incentives," he said. --BERNAMA