Alumni networks are boosting SE Asian startups

Already a feature of the US investment scene, Southeast Asian alumni networks are now banding together to offer ‘smart’ capital to fledgeling startups. And the trailblazer is, ironically, Uber, which exited the region in 2018

XA, which invests in early-stage startup deals in SE Asia, began as a Google alumni network but now includes executives from Facebook, Netflix, Twitter and others

Founders say XA gave insightful perspective from big tech executives and provided useful domain knowledge and experience

Uber’s exit also created a network of current and former employees that provides expertise on funding, hiring etc

Alumni syndicates rose in the US after an IPO boom. The time is ripe for a similar rise in SE Asia, with unicorns like Grab, Gojek, and Tokopedia planning to go public

When Krishnan Menon ran into a problem with his startup’s Facebook services, the former Freecharge and Lazada executive knew who to turn to. Facebook pages and ads are a major part of the business for BukuKas, the Indonesian digital bookkeeping app that Menon is founder and chief executive officer (CEO) of. Regular support staff couldn’t fix the urgent issue so he made a call to a well-placed angel investor who works at the social media company.

“It was fixed within 14 hours, of which 12 were at night,” Menon tells The Ken. But it wasn’t just speed, it was the level of attention that stood out.

AUTHOR

Jon Russell

Jon Russell is Southeast Asia editor for The Ken based in Bangkok. Originally from the UK, Jon moved to Thailand in 2008. He’s passionate about telling thoughtful business stories, and tracking the impact of the internet in his adopted home of Southeast Asia.

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