13
May
Venture capital: Changing strategies
For global LPs operating in the current macro environment, understanding Asia’s diverse and distinctive venture capital ecosystem can help them minimise risk and find pockets of opportunities across certain sectors and geographies. GPs must play their part and demonstrate their differentiation and track record whilst offering routes to liquidity. Experienced venture investors share their views on delivering value despite industry headwinds.
- How are VCs navigating the difficult fundraising environment?
- What is the outlook for distributions from Asia over the next 12 months?
- How GPs adapting their strategies across multiple funds?
- Where are the opportunities for venture capital deals in the region?
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SpeakersXun Zeng Partner COOLEY LLP
Jenny Lee Senior Managing Partner GRANITE ASIA
Boyu Hu Founder XVC
Adrian Li Founder & Managing Partner AC VENTURES
Bhavik Vashi Managing Director, Asia Pacific & Middle East CARTA
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Xun Zeng is an investment funds partner of Cooley’s Beijing office. Her practice focuses on the formation, structuring and operation of a wide variety of investment funds, including venture capital, private equity, hybrid and co-investment funds. She advises fund sponsors on the marketing, formation and operation of their funds, as well as upper-tier arrangements, carried interest plans, strategic joint venture arrangements and various governance matters. Xun also has extensive experience in representing institutional investors in connection with investments in private funds.
Xun is a lecturer in Law on the faculty of the University of Pennsylvania Carey Law School. She teaches Private Investment Funds.
Xun is admitted to practice in New York and Hong Kong. She is a native Mandarin and Cantonese speaker.
Education
University of Pennsylvania Law School
JD
University of Pennsylvania Law School
LLM
Sun Yat-sen University School of Law
LLB, with honors
Admissions & Credentials
New York
Solicitor of Hong Kong
Memberships
New York State Bar Association
Jenny Lee, is a senior managing partner at Granite Asia. She leads global investor relations and strategy, and was instrumental in setting up GGV’s first China office in 2005 and re-opening the Singapore office in 2019.
A self-starter, an investor and an entrepreneur, Jenny spent the last 23 years overseas and is frequently the first to invest in new innovative applications and products. She is best known for investments in sectors like Edtech, Fintech, Food and Agritech, Metaverse, and Energy Sustainability and Automation Technologies. Her portfolio includes 21 companies valued at over $1 billion each. She has had 16 IPOs up to date, including one in 2023 and two in 2021 across five different global exchanges, and numerous portfolio companies exits via M&A. Jenny’s global investment track record over two decades and early operation and finance work experience with Singapore Aerospace in Singapore; Morgan Stanley, and JAFCO Asia in Hong Kong enhanced her role as a preferred board member with deep domain expertise and global investment experience.
Born and raised in Singapore, Jenny is highly respected in the Asia business community and serves as a board member of Temasek. She serves on the governing boards of both Lee Kuan Yew School of Public Policy and Duke-NUS Medical School. In addition, she is a member of Singapore’s Research, Innovation and Enterprise Council; Singapore Business Federation; Asia Business Council; and Future Economy Advisory Panel.
Jenny has been a member of the Forbes Global 100 VC Midas list since 2012 and was the first woman to break the top 10 in 2015. She was also recognised by Forbes as one of the World’s 100 Most Powerful Women in 2023 and 2022 and in 2019 was named to the Forbes Asia Power Businesswomen 25 list and received the Business Times’s Outstanding Overseas Executive Award. In 2016, she was named to the Vanity Fair New Establishment list, Fast Company Most Creative People in Business list, and is consistently recognised by The New York Times and CB Insights among the top 100 venture capital investors worldwide, ranking #8 among top venture capitalists in Asia.
Jenny graduated from Cornell University with an M.S. and a B.Sc. in Electrical Engineering and an MBA from Kellogg School of Management, Northwestern University.
Boyu Hu is the founder of XVC, a 2-billion research-driven venture capital fund backed by endowments, foundations and sovereign wealth funds from US, Europe, and the Middle East. According to Preqin's latest league table, XVC II was ranked #1 best performing VC fund globally of the 2019 vintage in the 250-499 million category. Boyu excels at singling out 'big ideas' at early-stage, and some notable investments includes Kuaishou, Weee!, Hetao coding, Chagee, etc.The market value of his portfolio companies reached over 100 billion USD.
Before becoming an investor, Boyu had nearly 10 years of entrepreneurial experience. He co-founded China’s largest credit risk management software company, Amarsoft (SHE:300380), where he led the development of core product lines and helped the company achieve dominance in a highly competitive market and eventually go public
Adrian Li is an entrepreneur and veteran investor in the Indonesian and Southeast Asian tech industry. As Founder and Managing Partner of AC Ventures, he has invested in over 80 businesses in the past decade, including category leaders such as Stockbit, Shipper, Xendit, Koinworks, Julo, Carsome, and others.
With co-founding experience in both China and Indonesia, Adrian brings a unique perspective and valuable insights to any business. His first startup became the largest live online English training service in China before being acquired in 2010. Adrian then joined Rocket Internet as a Managing Director, building ventures in China and Southeast Asia. In 2014, he launched Convergence Ventures, which later became AC Ventures in 2019.
Adrian graduated from Cambridge University with a BA and MA in Economics and was elected a Hawk in recognition of his contributions to university and national-level judo. He obtained his MBA from Stanford Graduate School of Business.
He is a business mentor at Endeavor, The Founders Institute, and Antler, and is a member of YPO. Adrian is also an endurance race enthusiast having completed over 15 70.3 events and as well as a Full Ironman.
Bhavik Vashi is the Managing Director for Asia Pacific & Middle East at Carta. Carta is a platform that helps people manage equity, build businesses, and invest in the companies of tomorrow. Carta manages over two trillion dollars in equity for nearly two million people globally and is trusted by more than 30,000 companies, over 5,000 investment funds, and half a million employees for cap table management, compensation management, liquidity venture capital solutions, and more.
Prior to this, Bhavik was Area Vice President & General Manager for Asia at Anaplan, a global cloud-based planning software company that empowers customers to be agile and resilient to change, and make better, faster decisions by enabling connecting planning across the enterprise. Bhavik was an early employee at Anaplan and spent nearly a decade there, serving in various different GTM roles in both the AMER and APAC regions. He helped build and scale the company from a disruptive start-up with ~80 employees and
Bhavik is passionate about supporting the startup ecosystem, and is an active angel investor and advisor to startups globally. He has also previously been interviewed on numerous podcasts and Singapore radio stations, such as MoneyFM, and has spoken at a range of events within the tech and finance space, including the Future of Finance Summit.