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The Angels Network(TAN) Launches In Dhaka

FS Brief

  • A new angel investors network aptly named The Angels Network (TAN) has been launched today with an ambition to connect startups to capital and help startup companies with management skills.
  • First reported by the Daily Star, the network was formed in April this year and is led by Sonia Bashir Kabir as President and Rubaba Dowla as Vice President. Other board members include Shameem Ahsan, Tahsin Aman, and Hamidul Mishbah.
  • The report says, TAN is a consortium of angel investors in Bangladesh with 25+ angel investors and is currently working with 30+ startups.
  • The network will operate in a sector agnostic manner and explore investment opportunities in different verticals in the markets.

FS Insight

The Bangladesh startup ecosystem has gained meaningful traction recently with a number of incubators, accelerators as well as venture capital and private equity firms. Compared to a few years, the ecosystem has grown and matured. The number of startups building important businesses has grown. The number of people starting startup has increased. Local startups are going places such as Shopup got into Sequoia India’s incubator program Surge, Jantrik to Accelerating Asia and so on.

While we have seen some major funding events in the last two years such as Shohoz, bKash, and Pathao among others, raising invest remains a key challenge for startups in Dhaka. More so for late-stage funding. But in order to get to late-stage funding, we certainly need a strong foundation in the early stage funding. Launching of a platform like TAN is certainly an encouraging sign in that it would strengthen our early-stage funding environment and would allow more founders to start and build companies.

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