Last updated February 13th, 2023
This Member Charter & Code of Conduct (“Charter & Code of Conduct”) is made on between (“Signing Date”):
The XA Network [the X denotes large tech firms, $1b+ valuation, and the A refers to Alumni] is an investment network comprising senior leaders from prominent tech companies including Alibaba, GoTo, Grab, Google, Amazon, Microsoft, Netflix, and Twitter amongst many others.
XA Network’s purpose is to foster inclusive innovation by empowering the tech community in Southeast Asia. We invest and empower early-stage companies across Southeast Asia by exposing these businesses to the wide array of skills across the network. XA Network has invested in a wide variety of promising companies including Lummo (fka Bukukas), Spenmo, Sampingan, Neuron, and Infradigital.
The XA Charter & Code of Conduct may be revised at any time at the discretion of the Leadership Team. The most updated Charter & Code of Conduct will be available on our website and members may access it at any time.
To enable our members to
Like a computer’s operating system, a well-developed set of values gives us the ability to make faster and more effective decisions and ensures alignment when interacting internally as well as with the broader ecosystem. Therefore, we have laid out the following operating principles that govern how all XA members show up across the ecosystem. A detailed explanation of our operating system is available here and is also publicly available.
III.A.1 Leadership Team
III.A.2 Roles and responsibilities of the Leadership Team
III.B Advisory Board
III.C Extended Leadership Team
Please reach out to firstname.lastname@example.org for the current members on each committee as the participants regularly rotate.
To ensure we are only attracting high-quality and contextually relevant members, we are keeping this forum invite-only. Qualified candidates will interview with members of the Membership Review Committee. The criteria for membership is as follows:
VII.A XA Lead
Definition: A lead is any member who drives the process (from investment to eventual exit, which could be several years from closing), including meeting and coaching the founders, managing due diligence, liaising with investors and founders on a regular basis, handling post-closing matters, etc.
For a full description of expected responsibilities, please refer to the XA Lead Handbook.
VII.B Member(s) participating
Definition: Member(s) that invest capital in a startup introduced by XA (from investment to eventual exit, which could be several years from closing)
VII.C Member(s) with access
Definition: XA members hold many responsibilities coupled with their investment histories. Hence, founders are deeply concerned about conflict of interest given the sensitive nature of the information shared during the investment process. In line with our value of founder friendliness, the XA Network offers each founder the ability to exclude any group of members on grounds of the following, collectively known as ‘affiliations’:
At a high level, the guidelines for the principles of engagement are as follows:
VIII.A Scenario 1: Member co-investing with XA Network using an SPV
VIII.B Scenario 2: Member co-investing with XA Network using a qualified VC fund
An increasing number of Venture Capital Funds across Southeast Asia have started to operate scout programs (e.g., Sequoia Capital, Lightspeed Ventures, and Saison Capital). As part of these programs, these funds opportunistically share deal-flow with their scouts and may match the scout’s investment on a 1:1 basis.
While several of our members might act as scouts for some of these Venture Capital Funds or be part of third party investment networks, XA Network’s members shall disclose to the Leadership their affiliation with the VC scout program and/or the third party investment network and follow the below principles.
IX.A Scenario 1: XA Network presents a startup to members and the member who is a also a scout and/or a member of a third party investment decides to invest
IX.B Scenario 2: The member receives a startup investment opportunity from the Venture Capital Firm from his/her scout program and/or a third party investment network
XA Network’s goal is to effectively support founders and investors. In order to do so, we might charge an annual contribution fee to cover our operating costs. The Member shall pay to XA Network a one-time joining fee of SGD 2,500 (“Joining Fee”) for an individual, or SGD 3,000 for a couple. A separate annual contribution fee of SGD 2,500 (“Annual Contribution Fee”) for an individual, or SGD 3,000 for a couple will also apply. Upon renewal, only the Annual Contribution Fee will be due.
XA memberships will be automatically renewed on an annual basis subject to members meeting the investment and activity and/or per the Leadership team discretion. The annual contribution fee will be charged to the credit card on file. All credit card information will be securely stored with a trusted third-party payment processor. Thirty (30) and seven (7) days before the payment is processed, members will receive an email notification that their membership subscription will automatically renew. Members can opt-out of the renewal by contacting the XA team before their membership expires. Members may also request for a full refund of the annual contribution fee within thirty (30) days of renewal. Thereafter, the renewal fees will be considered non-refundable.
The Joining and Annual Contribution Fee will be waived for advisory board members given their status as advisors to the XA Network. The Joining and Contribution Fee may be revised or amended with notice from time to time. Members that decide to terminate their membership and subsequently rejoin within 12 calendar months will be exempt from paying the joining fee.
For the first 45 days after the XA charter has been signed and payment completed, new members will enjoy all XA member privileges. This includes but is not limited to communications regarding investment opportunities and invitations to XA community events. The new member is required to attend an onboarding session to be considered as a fully onboarded member.
Onboarding sessions are typically held once every fortnight over GMeet and will orient new members to the XA Network, including but not limited to how the community presents itself, how to best engage and navigate, and answer any additional questions new members may have. New members may attend any session during those first 45 days.
In the event a new member is unable to attend an onboarding session within the first 45 days of signing the membership charter and completing payment, their membership privileges will be suspended. This is to ensure that all members have a clear and uniform understanding of the organization and its policies, and to provide them with the tools and support they need to fully benefit from their membership. Once the member attends an onboarding session, their privileges will be resumed without any extension of the original membership period.
Each member acknowledges that he or she:
XI.B Virtual events etiquette
As a geographically distributed network, we primarily hold events (e.g., AMA calls, Fireside chats, AGM, etc.) through video conferences. To create a conducive environment for all and protect the XA Network brand in the broader ecosystem, we would appreciate it if members observe the following etiquette:
XI.C Handling The Media
While most members have had media training from their workplaces and are well versed in dealing with the media, some may be unclear about the right narrative or specific data points. To address the situation and support our members around dealing with the media we would encourage all media approaches (traditional or social) regarding the XA Network to be communicated immediately to our Media Advisor at email@example.com. We will coordinate the response and manage the contact with the journalist and relevant member(s). Having our Media Advisor as a buffer will protect members and allow us to curate the correct response for media articles about the XA Network and our work. Additionally, if you have been invited to speak at events or on webinars, please seek our counsel on positioning and message around the XA Network.
The advisory to all members is:
The XA Network leadership team retains the right to modify this charter at any point without prior notice.