AVCJ Private Equity Forum 2025
Asia's premier private equity event for the last 38 years
Everything else: Opportunities beyond AI
- Which non-AI frontier technologies are most likely to go mainstream?
- How can VCs leverage global supply chain reorientation in traditional industries?
- What are the key trends to watch in energy transition and biotech?
- How difficult is it to source follow-on funding for a non-AI start-up?
- What is the risk-return profile of funds in the crypto industry?
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Shashwat advises on the full spectrum of debt and equity capital markets transactions across India and Southeast Asia, including initial public offerings (IPOs), follow-on equity offerings, investment-grade and high-yield bond issuances, medium-term note (MTN) programs, liability management exercises and restructurings. He represents issuers, underwriters and other stakeholders across a variety of industries, such as technology, life sciences, financial services, manufacturing, real estate, infrastructure and aviation, and has also advised sovereigns and state-owned entities.
Xiao Xiao has more than 7 years of experience in VC/PE. Previously served as the Chief Analyst at Huobi Research. Before that, she worked at Hon Hai Capital Management and Butler Capital Partners. She is a graduate of ESSEC Business School and Wuhan University.
Yinglan Tan founded Insignia Venture Partners in 2017, an early stage technology venture fund focusing on Southeast Asia and has partnered with regional champions like Carro Payfazz, Cohive, Janio and Logivan amongst others. Prior to founding Insignia Venture Partners, Mr. Tan was Sequoia Capital’s first hire and Venture Partner in Southeast Asia. He sourced multiple investment opportunities for Sequoia including Tokopedia, Go-jek, Traveloka, Carousell and Appier (where he represented Sequoia on the board). He had also been a member of the elite Singapore Administrative Service, where he served in a variety of positions in the Prime Minister’s Office (where he was part of a team that managed a S$360 million fund for innovation and enterprise), Ministry of Trade and Industry and Ministry of Defence. He was also the founding Director of 3i Venturelab China, a jointventure between private equity firm 3i (LSE:III) and INSEAD.
Mr. Tan has been named as a World Economic Forum Young Global Leader (2012 – 2017), a WEF Technology Pioneer Selection Committee Panel (2015-2017), Eisenhower Fellow - Innovation Program (2018), Top “40 leaders under 40” by Prestige Magazine (2015), Milken Institute Young Leaders Circle (2016), one of 100 Leaders of Tomorrow by the St Gallen Symposium (2010), 100 Global Thinkers (2011) by think-tank Lo Spazio della Politica, a World Cities Summit Young Leader (2014), a WEF Global Agenda Council member on Fostering Entrepreneurship (2011-2013) and a Kauffman Fellow. He also serves on the
Singapore Government’s Pro Enterprise Panel and the Committee on the Future Economy's Sub-Committee on Future Corporate Capabilities and Innovation. He is an Adjunct Associate Professor at National University of Singapore and Nanyang Technological University. He is also a Strategic Research Innovation Fund Investment Committee Member at Nanyang Technology University, advisory board member at Duke University CE, author of 3 books - The Way Of the VC (Wiley, 2009), Chinnovation (Wiley 2010) and textbook New Venture Creation - An Asian Perspective (Mcgraw Hill 2011). He was educated at Harvard, Stanford and Carnegie Mellon.
Rafael Ratzel has been an integral part of TH Capital (华控基金) in Beijing since 2016, spearheading the firm's international initiatives as the head of TH Capital International. His strategic leadership resulted in the successful establishment of the firm’s inaugural USD Fund in 2023, extending opportunities for international investors to access growth capital investments in Chinese high-tech sectors. The international team at TH Capital also supports portfolio companies in introducing innovative Chinese technologies to a global customer base.
Before his tenure at TH Capital, he held several operational roles at Siemens and Bosch in Europe and as a consultant with Roland Berger in Beijing. He further enhanced his cross-border investment expertise at CMIG Investments in Shanghai.
Rafael holds dual degrees in Engineering (Industrial and Systems Engineering) and Business Administration (Management) from the Hong Kong Polytechnic University. He has also acquired MBA degrees from Tsinghua University in Beijing and the Sloan School of Management at the Massachusetts Institute of Technology (MIT).
His strategic insight and leadership are also recognized in his role as a board member of the German family office and industrial holding group AEQUITA.
Michael Zhang is the CEO of TTGG Ventures. With 15 years of experience in venture capital, Michael focuses on investment opportunities in deep tech, manufacturing, and new materials. He has received numerous recognitions, including being listed among the Top 100 Best Private Equity Investors by China Venture from 2021 to 2023.
Michael holds dual bachelor's degrees in law and economics from Peking University and a Master of Laws (LL.M.) degree from the University of California, Berkeley.
Jinjian Zhang is the Founding Partner of Vitalbridge Capital. He has over 12 years of private markets investment experience, across companies’ life cycle and China’s evolving market landscape. He is praised by industry peers as "The Most Convicted & Influential AI investor".
Jinjian founded Vitalbridge in 2019 and has established a thematic investment approach. This approach is highly selective, concentrated, and oriented towards long-term investments ahead of broad market consensus. Vitalbridge has become one of the most influential funds in the AI field in recent years. The firm was awarded "Best Asia Tech Fund Manager of the Year 2025" by SuperReturn & Pitchbook.
Jinjian holds a Master’s degree from the National Laboratory of Fudan University, majoring in neural network.