On Nov 30th, 2019, the Vietnam Angel Network (VAN) is officially launched at TECHFEST 2018 - Vietnam International Startup & Innovation Summit in Danang, as an inititave of Project 844 (Vietnam National Startup & Innovation Supporting Program), Vietnam Ministry of Science and Technology.
On behalf of the Board of Advisors, Mdm. Phi Van Nguyen - Chairwoman of VAN - had announced the launching of VAN together with its Board of Advisors. In this occasion, an MOU Signing Ceremony between VAN and MBAN (Malaysian Business Angel Network), BANSEA (Business Angel Network of SouthEast Asia) and LBC (Vietnam Leading Business Club) consecutively was also organized.
Here is the Announcing Speech of Mdm. Phi Van Nguyen, Chairwoman of Vietnam Angel Network:
"Distinguished Guests, Ladies & Gents,
I just came back from Kuala Lumpur where the ASEAN Angel Alliance summit was held. There were representatives from 9 different markets across the ASEAN, with the leader in terms of numbers of members being MBAN - Malaysian Business Angel Network, with 230 members, BANSEA - Business Angel Network of South East Asia, a Singapore-based angel network. There were angel networks from other ASEAN markets accept for Cambodia and Laos, with Cambodia setting up one as we speak. The average number of Startups invested by angel investors across the network stands anywhere from 10 to 20 startups in a portfolio. I've also learned that for a portfolio of angel investment to create the best return, the minimum number of Startups invested into per angel investor should be 20.
As you can see, a startup ecosystem cannot thrive without the presence of an angel investment network. They are the ones willing to invest at a very early stage, with their seed money, their business experience and especially their local and global network to help Startups implement their ideas and solutions, to raise more capital when required, and to provide reality check for startups when need be. The Vietnam ecosystem at the moment hosts a few early stage and series A investment funds, which is instrumental in supporting the growth of the ecosystem. What we are missing is the earlier stage, angel investment and the later stage series B onwards, which will happen eventually when we have enough quality startups. In actual fact a series B, C venture fund from South Korea just emailed me last night asking if I have any deals to refer.
Having said that, in collaboration with Project 844, and the Ministry of Science and Technology, we are launching today the Vietnam Angel Network with 20 members. In 2019, we are going to start running both investor education workshops such as business valuation, technology update, coaching & mentoring skills, and portfolio management, ect. We have connected and will continue to connect with angel networks around the world to foster cross border investment and utilize that platform to help Vietnamese Startups to go global at the very early stage.
With that, I announce the official launch of the Vietnam Angel Network.
I am also very honored to have the support of the following key influencers to the success of VAN in Vietnam to guide VAN with future strategies and directions. Could I request our esteemed members of the Board of Advisors of Vietnam Angel Network to come on stage to officiate our launch.
Introducing Dr. Phạm Hồng Quất - General Director, NATEC (National Agency for Technology Entrepreneurship & Commercialization).
Introducing Mr. James Tan - Chairman of BANSEA (Business Angel Network of SouthEast Asia)
Introducing Dr. Sivapalan Vivekarajah - Chairman of MBAN (Malaysia Business Angel Network).
Last but not least, Introducing an important member of the BOA and key infuencer to the local business network, Mdm. Vu Kim Hanh - Vice President of LBC - Vietnam Leading Business Club.
Can I request Mr. Pham Hồng Quất to say a few words on behalf of the Board of Advisors.
And now, please witness the MOU Signing Ceremy between VAN and BANSEA, and between VAN and LBC.
Thank you very much for your support and guidance for the Vietnam Angel Network.
Since the chairman of MBAN is not present today, I would like to announce that Vietnam Angel Network has also signed an MOU with MBAN to share networks and foster cross-border investment.
I am also happy to announce that Vietnam Angel Network shall be hosting ASEAN Angel Alliance Summit 2019 at TechFest 2019 in Vietnam. I thank you all for your presence and support."