TIE Lahore announces a formal Angel Investment Fund

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Osama A.

Osama runs a Social Media Marketing Agency and a Software Product Company. He has been involved in building online communities since 1997 and his major strengths are understanding how people choose to come together and work as strong cohesive units that believe in brands or causes. His team's flagship product offers highly innovative ways to get professional teams to work better together - resulting in significantly saved time in common tasks around getting people on the same page; and also resulting in a greater sense of trust among virtual teammates. You may contact him at hashmi@cdfsoftware.com with inquiries.

On a positive note at the end of TES2007, TIE Lahore announced that they are formally launching an Angel Investment Fund.

I’ve been asking pretty much everyone that I’ve been meeting for the past 6 months to formalize their interests in startup investments, and its good that someone finally took this step.

They said details of their process will be announced later, but I suspect these people will make $50,000 – $100,000 investments in chosen companies.

The TIE Members who have come together for this fund include the following (Update: Actually I dont have the full list with me so it would be great if someone can dig this info up and write it there):

Dr. Khalid Chowdry – Chairman and CEO of Mediapak, and President of TIE Lahore
Syed Babar Ali – Founder, Packages Limited
Monis Rahman – CEO, Naseeb Networks / Rozee
others

This is certainly a commendable step towards promoting real startups in the country, and given that this is a formal fund with stakeholders from diverse backgrounds and industries, and will have a proper evaluation process, transparency is guaranteed.

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4 additional thoughts for this post.

Jehan Said:
December 20th, 2007 at 6:55 am
This is good news Osama. Also remember the recent announcement of the MITCEF Angel Fund – so we are suddenly seeing some action in this area. There is also increased interest from large customers wanting to invest in technology companies.
Hira Khan Said:
December 20th, 2007 at 12:42 pm
I would suggest to technoprenuers to do bootstrapping for a while, it will help in getting a better deal.
ian Said:
December 25th, 2007 at 11:58 pm
Hira,
Excellent advice ..i have done research on the investor market..mainly by talking to executives, and receiving information from operating officers in one of the silicon valley
companies..
Entrepreneurs are in a much better position if they ” bootstrap” because the value of their idea is greater the longer they can progress the business..instead of giving away 30% to an investor give 5% to three talented founders..
Keep in mind you have assets which you can
use now; just use them… Ian
Investors at Startup Insiders - bring your demos : Green & White Said:
January 29th, 2008 at 3:17 pm
[...] Lahore event is going to see representatives of the TIE Angel Network there, and we may also see some angel investors there as [...]