AngelCentral, a popular network of angel investors has just released its inaugural Angel Investor Behavioural Survey Report for 2022. This report surveyed 75 ASEAN based angel investors on their investing experience and behavior. The goal is to understand better how angel investing has developed as an asset class and how ASEAN angels make their investment decisions. Prior to this report, there has been no such sizable survey conducted as this is a new asset class.
ASEAN Angels are gaining maturity & experience
A majority (59%) of the survey respondents have invested in more than 5 startups, with 12% having a portfolio size of more than 30 startups. Majority of the angels (68%) are very disciplined investors and allocate less than 10% of investable assets into this asset class. The angels also are long term in view with aggressive expectations. 76% expect to make at least a 15% IRR over a 10 year period.
“As an active angel for 10 years, it is very gratifying to see our angel community growing in maturity such that it is now common to find angels who are methodically building a portfolio of at least 20 startups to achieve the right diversification effect and optimize for risk adjusted returns. Back in 2012, it was more common for angels to treat startup investing as lottery tickets where they invest in 3-5 startups and hope for the best,” shared Huang Shao-Ning, Chief Angel at AngelCentral.
ASEAN Angels are active cheerleaders & not just financially motivated
The top reason angels give for investing is that they get to learn from and interact with founders. Financial returns are a close second. This is consistent with the findings that an overwhelming majority of angels are not passive shareholders, but instead actively help founders with opening doors and advice.
“As an active Angel, one of our strongest value add is that we have scaled and sold a tech business before. So we relate well to the emotional journey of founders and share our experience with them,” Huang added.
Who is the typical ASEAN angel?
The typical ASEAN angel is aged 41-55, overwhelmingly male and invest mainly out of their net worth rather than income. They invest mostly within the region and have an initial cheque size per startup of between USD$20K-50K.
Please find the full behavior survey report here: https://www.angelcentral.co/angel-behaviour-survey-report
Founded in 2018, AngelCentral’s goal is to help build effective angels in the ASEAN region. We offer our angel members pitch days, startup access, learning and syndication services to help them invest better and develop as good angel investors. To date, we have trained and assisted >500 angels regionally.
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