Australia-based technology investment company Tinshed has recruited five local high net-worth investors as its 'angel investors' to fund start-ups in the region. They include lawyer and former legislator Ronald Arculli, diversified Guoco Group chief executive Kwek Leng Hai, property group Sino Land chairman Robert Ng Chee-siong, private property group Chinachem chairman Nina Kung Wang and Filipino businessman Roberto Ongpin. Lucas Fuller, managing director of Tinshed's newly-established Hong Kong operation, said the company was aiming to increase the number of angels to between 10 and 12 in six months. Unlike traditional venture capital investment companies whose pooled funds are controlled by fund managers, Tinshed's angel investors make their own decisions as to which companies to invest in and how much. They will be presented periodically with investment proposals screened and recommended by Tinshed's investment advisers. 'This model is attractive to the entrepreneurs as they get access to the angels' business connections, capital and strategy advice,' Mr Fuller said. Mr Arculli said sharp corrections in technology stocks should not have a big impact on Tinshed's business, as it mainly focused on early-stage ventures far from market flotation. Lower valuations of listed companies had spilled over to the start-ups sector, and helped lower entry investment costs and weed out companies with weak business models, he said. Founded in July last year, Tinshed has 17 angels in Australia and has been providing capital of between US$500,000 and US$3 million per project. It focuses on Internet, media and communications industries. Tinshed's SAR unit yesterday announced completion of its first investment in Hong Kong, in US-based CoreMetrics, which offers solutions to retailers to track and analyse the performance of their online business and behaviour of their customers. Tinshed charges an undisclosed placement fee as a percentage on the fund-raising amount for successful investment deals. Mr Arculli and Mr Ongpin are director and deputy chairman of South China Morning Post (Holdings), respectively.