Profiled at ASEAN Workshop on SME Business and Technology Incubator', hosted by ASEAN Secretariat along with Indonesia Ministry of Cooperatives and SME in June 2013.

1. Goutama Bachtiar
Investment Advisor, Global Innovations and Technology Platform
ASEAN-JIF, 14 June 2013
Angel Investor’s View on ASEAN Common Fund for Startup

2. About Us
• A Singapore-based Corporate Angel
Investor invests in Startup & Seed
companies in China, India, Singapore,
Indonesia, Vietnam and other Asian
countries
• Part of Rutledge Vine Capital focusing on
global investments

3. Our Team
• Driven by a high caliber force with a
combined experience of over 80 years in
Senior Management positions
• Have extensive ventures in diverse
sectors spanned across IT, Mobile,
Gaming, Digital Media, Hospitality, Real
Estate, Consumer Marketing, Oil & Gas,
Commodities spaces

4. What We Do
• Invested in technology companies in various
stages of development
• Look for more startup by working with
entrepreneurs who have innovative ideas and
a need for capital to move to the next stage
• Our initial funding between US$100K and
US$300K
• Follow-on funding of US$500K and above at
the later stages

5. Our Investment Philosophy
• ‘High Risk-High Return’ portfolio
• Partnerships with other Angels and
Incubators for co-investment and cross-
pollination of ideas
• A minority ownership (10 to 25 percent)
within the investee
• Advice, Mentorship and Network
• No interference in day-to-day investee’s
management activities

6. Our Investment Sectors
Information Technology

7. Our Investment Sectors (cont’d)
Medical Technology

8. Our Investment Sectors (cont’d)
Eco-Energy

9. Our Investment Criteria
• Differentiation: unique, first-of-a-kind and new
ideas, proven and verifiable
• Substance: Team, Competitive Advantage,
Monetization, Intellectual Property
• Market: large target market, first mover (Blue
Ocean)
• Traction: Working Product, Sales and
Customers, Strategic Partners, Letter-of-Intent
• Valuation: Rational, Realistic, Reasonable

10. Our Funding Stages

11. Our Portfolios

12. Our Funding Process

13. Our Co-Investment Process

14. Rehearsing Common Fund Term
• A form of collective investment
scheme
• Based on contractual law
• Managed as a single portfolio with
individual beneficiaries receiving
returns proportionately
• Property is managed as a whole by
or on behalf of the operator of the
scheme
• Contributions, profits, payments,
income are to be made to them are
pooled

15. Latest News Common Fund Scene for Startup
Injected by New York State Common
Retirement Fund (NYSCRF)
Third largest pension fund in the country
funded two startups Movable Ink and Truveris
through Tribeca Venture Partners
Moveable Ink: Let users serve up dynamic live
content in their email
Truveris: a software company helping
customer with pharmacy costs

16. Common Fund Advantages
• Co-incubation and Co-
Investment
• Mentors and Experts
• Best Practice Model
• Information and Database
• Training for investment
manager, start-up companies
• Reduction in investment risk by
diversification

17. Common Fund Advantages (cont’d)
• Economies of scale and
operational efficiencies
• Resulted in a lower cost base
for the investment manager
• Tax efficient
• Administratively simple
• Strengthening country/entities
coordination
• Reduction in investment risk
by diversification

18. Common Fund Advantages (cont’d)
• The more diversified our
capital, the lower capital risk
• Indirectly reduced currency
risk
• Systematic risk avoidance by
investment in different non-
perfectly-correlated asset
• Reduced dealing costs

19. Common Fund Advantages (cont’d)
• Simplified fund structure rather
than having a number of fund
structures
• Enhance accountability to entities
involves through a greater
transparency with more
disclosure of information
• Accelerate trust and credentials
attainment
• Gain more publications Attract
more investees

20. Financial Services Would Like to Know
• The legal status of the entity
• The place in which the firm
and/or its head office is
located
• The ownership of the firm
and/or any relevant group
structure
• The firm's resources
• Whether the firm is fit and
proper (i.e. meets criteria as
to honesty, competency and
financial soundness)

21. Things to Consider
• Costs
Fund manager cost and expense in
fixed or variable percentage
• Lack of choice
Investor will often have none of the
rights connected with individual
investments within the fund
• Lack of owner’s right
Investor could choose type of fund
to invest in, but no control over the
choice of individual holdings that
make up the fund

22. Common Fund Challenges
• Keeping it lean
• Communication should be
strengthening
• Agreed method and common
view of risk management,
due diligence, valuation,
capital injection
• Dispute whenever happened
and accommodated in the
agreement

23. Common Fund Challenges (cont’d)
• Regulatory compliance to
minimized compliance risk
(law and scheme) including
ownership
• Complying with Financial
Services Authority
• Compromising within any
other interests

24. Thank You!