26
Apr
Venture capital: Shifting dynamics
Venture capital in Southeast Asia seems to be quite resilient and might be reasonably placed to ride out the global tech downturn. Although valuation corrections, liquidity, and macro challenges persist, the emergence of sectors such as sustainable food, live streaming commerce, and climate solutions give cause for optimism. How this change in dynamics plays out remains to be seen and will be discussed by our panel of leading tech investors.
- How resilient is the region amid the global tech uncertainty?
- Does the market expect more quality exits and up-rounds? Will there be more listings in the region’s exchanges?
- What tech opportunities are emerging?
- What is the outlook for later-stage funding?
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SpeakersWillson Cuaca Founding Partner EAST VENTURES
Steven Wang Founder & CEO HIGHLIGHT CAPITAL
Adrian Li Founder & Managing Partner AC VENTURES
Charles Wong Founding Partner TNB AURA
Andrew Harline Partner in Charge COOLEY LLP
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Willson Cuaca is the Co-Founder and Managing Partner at East Ventures, a pioneering and leading sector-agnostic venture capital firm in Southeast Asia. Willson transformed East Ventures into a multi-asset platform, managing multiple funds from seed to growth with over 300 portfolio companies across Southeast Asia, including Indonesia that is the firm’s central focus.
Under Willson’s leadership, East Ventures captured Indonesia’s early wave of digital transformation and is an early backer of some of the largest tech companies in Southeast Asia, such as Tokopedia, Traveloka, Ruangguru, Waresix, ShopBack, Xendit, 99.co.
East Ventures was awarded The Most Consistent Top Performing GP Globally by Preqin; 1st Top Asia Investor and 4th Top Global Investor in 2022 by CB Insights; named The Most Active Investor in Southeast Asia and Indonesia; and listed as one of the top 10 global seed investors headquartered in Asia in the Crunchbase 2021 report.
In 2020, Willson was listed in Asia’s Top 100 People Transforming Business by Business Insider. Willson was also named Fortune Indonesia Businessperson of the Year 2022.
Mr. Steven Wang is Founder & CEO of HLC and a visiting professor of Tsinghua University. He has over 20 years of experience in industry and investment, focuses exclusively on healthcare services, medical device and pharmaceutical sectors. Before founding HLC, he is former senior partner and investment committee member of CDH. Prior to CDH, Mr. Wang served at Avenue Capital, Lehman Brothers (London) and Becton Dickinson Group. Over the last ten years, Mr. Wang was responsible for transactions totaling more than 1.5 billion dollars, including mergers & acquisitions, restructuring of publicly listed companies, growth and early stage investments.
Some of Mr. Wang's representative deals include Mindray, Wuxi, Tigermed, Phamaron, Yuwell, United Imaging, Brightgene, Genetron Health, STA, Sansure Biotech, Smoore, Zentalis, Imago, Viva and more.
Adrian is Founder & Managing Partner at AC Ventures, formerly Convergence Ventures. ACV is an early stage Indonesia focused technology venture capital fund. ACV managed 3 funds with a portfolio of over 80 businesses. Notable investments include, Payfazz, Koinworks, Julo, Carsome and M17.
Previously, he co-founded several ventures in China and Indonesia. Adrian’s 1st Internet venture was Idapted where as CEO & cofounder he raised 2 rounds of venture financing and led the company to be the largest live 1:1 online English test preparation service in China. Idapted was acquired by Eleutian in 2011. He then joined Rocket Internet as a Managing Director where he worked on new technology ventures in China and South East Asia. At the end of 2014 he launched Convergence Ventures.
Adrian is also involved in non-profit work. He founded and chairs a UK Charity called CNYTrust, which supports children in rural China continue schooling. He is a business mentor at several organisations including Endeavour, Founders Institute and Antler. He has served on the board of Entrepreneurs Organisation is several roles including Beijing Chapter President and Regional Communications Director. He is also a member of Young Presidents Organisation (YPO) in Indonesia.
As the Founding Partner of TNB Aura, Charles leverages his fund management, VC and PE investment experience, and analytical capabilities and heads up the group’s venture capital initiatives in South East Asia.
Prior to TNB Aura, Charles founded Capital Associates, a boutique advisory to mid-market VC funds in the SE Asian region, as well as worked as a management consultant with Booz & Company with a key focus on corporate strategy and M&A. Charles also served as Entrepreneur in Residence at Groupon in Shanghai. Currently, Charles continues to serve as an Executive Director of Aura Group, and has been responsible for all facets of the Group's activities in Asia. Charles has been instrumental in establishing Aura Group in Asia and driving its fund management and wealth management initiatives.
Charles graduated from Harvard Business School as a George F. Baker Scholar (top 5% of class) and holds a Bachelor of Commerce from the University of New South Wales (first-class honours, and recipient of the University Medal).
Andrew Harline is based in Cooley’s Singapore office, he represents both public and privately held companies in a wide range of corporate and securities matters, including private financings, mergers and acquisitions and public offerings. He also represents venture capital and private equity funds in connection with financings and other transactions. Andrew is counsel to companies across a broad range of industries and ranging from start-ups to well established companies. He is ranked as a leading start-up and venture capital lawyer by The Legal 500 Asia Pacific.
Prior to joining Cooley, Andrew was a corporate associate at a leading law firm in Southern California. Prior to attending law school, he held various positions in the investment and finance industries, including as an equity trader and an investment banking analyst. While attending Vanderbilt University Law School, he was a member of the Vanderbilt Journal of Entertainment & Technology Law.
Andrew received his JD from the Vanderbilt University Law School, and BA from Brigham Young University. He is admitted to practice in California.