Publication
3 Trends Shaping the Future of Tech Venture Capital in Asia
https://www.toptal.com/finance/venture-capital-consultants/venture-capital-asia
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Verified Expert in Finance
Finance Expert
Location
Hong Kong, Hong Kong
Toptal Member Since
July 13, 2020
Alec executed over $5 billion in corporate, private equity, and venture capital transactions during his tenure at Swiss Re Principal Investments Company and Tencent, the leading internet company. He co-founded a financial advisory company in Hong Kong, advising companies in China, Southeast Asia, and Central Asia. Alec enjoys freelancing because it allows him to connect and collaborate with other passionate business founders to seize opportunities and challenges together.
Career Highlights
Partner
KT Capital Group
Senior Investment Manager
Tencent
Investment Professional
Swiss Re
Education Highlights
Bachelor's Degree
The Chinese University of Hong Kong
Certification Highlights
CFA
CFA Insitute
Expertise
Work Experience
Partner
2020 - PRESENT
KT Capital Group
- Established an investment vehicle for a fintech company in Greater China. The investment fully exited with an IRR of around 25% in December 2021 by exercising the put option to sell the vehicle's stake back to the company's founder.
- Engaged by a leading Southeast Asia-focused venture capital fund to provide investment reports that compared US-based tech companies with Southeast Asian ones, along with insights and analysis on the tech M&A landscape in Southeast Asia.
- Advised the founder of a Philippines-based BPO company on its sale to private equity investors by helping the company prepare the pitch deck and financial projections and advising on valuations and negotiations.
- Provided independent investment and equity research on global fintech and digital asset companies, including crypto exchanges, decentralized finance protocols, blockchain companies, and more.
- Engaged by a Singapore-based long-short hedge fund to provide an independent investment research report on a US-listed cryptocurrency exchange. The areas covered included the company's valuation, key investment thesis, risks, and near-term catalysts.
- Provided advisory services to a Singapore-based RegTech SaaS company on its pre-A fundraising, including building the financial and revenue model, carrying out the valuation, advising on its pitch deck, and communicating with potential investors.
- Engaged by a Web 3.0 venture and incubation firm to advise a decentralized finance protocol on its seed fundraising, including leading the valuation analysis and tokenomics design, preparing the investor presentations, and more.
- Engaged by a China-focused B2B luxury goods eCommerce platform to advise on its (Series A) fundraising by preparing the financial projections, investor materials, etc., and advising on the company valuation.
- Engaged by the founder of a jewelry e-commerce platform to advise her on the company valuation and term sheet negotiations with potential investors.
- Engaged by the Singapore FinTech Association to provide a white paper to advise how investors and institutions in traditional finance could capitalize on the opportunities presented by the development of decentralized finance.
Focus areas: Emerging Markets, Business Development, Venture Capital, Private Equity, Fundraising, Equity Investment, Mergers & Acquisitions (M&A), Equity Research, M&A (Buy-side), Stock Analysis, Market Research & Analysis, Insurance Technology (Insurtech), Corporate Finance, Pitch Deck Consultant, Fintech, Pitch Decks, Capital Raising, Revenue & Expense Projections, Forecasting, Due Diligence, Leveraged Buyout (LBO), M&A Modeling, Leveraged Buyout Modeling, Decentralized Finance (DeFi), Investor Relations Consultant, Cryptocurrency Exchanges, Blockchain & Cryptocurrency, Blockchain, Non-fungible Tokens (NFT), Three-statement Modeling, RiskMetrics, Investor Presentations, Deal Structuring, Term Sheet Advisory, Term Sheet Negotiations, Deal Sourcing, Complex Transaction Agreements, Deal Review, Shareholders' Agreement (JVA), Investment Strategy, Tokenization, Strategy, Mobile Payments, Business Models, Business Planning, Competitive Analysis, Market Trends, Investment Banking, Board Presentations, Business Process Outsourcing (BPO), Digital Asset Management, Market Research, Singapore, Pricing, Market Research Analyst, Financing, Digital Banking, Financial Products, Banking & Finance, Startups, Financial Planning & Analysis (FP&A), Manufacturing, Trade, Early-stage Venture Capital, Investment Analysis, Investment Committee Advisory, Investment Briefs, Cryptocurrency, Structuring of Funds, Fund Structure, Equity Research Analysis, Net Debt Analysis, Angel/Seed Funding, Angel Investing, Cash Flow, Employee Stock Options, China Relations, China, Financial Forecasting, Startup Funding, Hong Kong, Fundraising Consultant, Data Rooms, Fundraising Strategy, SaaS, Asia, Enterprise SaaS, Software as a Service (SaaS), Edtech, Early-stage Funding, Ethereum, Business Plan Consulting, Recruitment, Risk Management, Accounting, US GAAP, FIG, Specialty Finance, Metaverse, Web3, Interim CFO, Consumer Services, Financial Reporting, Consolidated Reporting, Enterprise Software, Subscriptions, Credit Risk, Risk & Compliance, Tokenomics, High-tech Startups, Cloud Computing, Private Clouds, CFO, Music Publishing, Music Production, Music, Music Streaming, Consumer Products, Startup Consulting, Private Equity Consultant, Minority Investments, Private Equity Secondaries, M&A Strategy, Private Placements
Strategic Advisor
2023 - 2023
TRYKO TECHNOLOGIES INC.
- Provided strategic guidance to the founding team on building a potential fintech business by leveraging its existing customer and driver base.
- Secured a partnership with an insurance company by connecting the insurer's Chairman with the team.
- Advised the founder on the company's fundraising strategies, such as what type of investors to target at this stage and how to approach them.
Focus areas: Business Strategy, Risk & Compliance, Operations, Policies & Procedures Compliance, Treasury & Liquidity Management, Treasury Management, Treasury, Startup Consulting
Fundraising Expert
2023 - 2023
Gurukul Pte. Ltd.
- Helped the company develop the proper investment narrative and storyline that would be fit for fundraising from institutional investors.
- Developed financial projections, valuation, and the investor pitch deck for the company.
- Provided strategic advice on the company's future development areas and fundraising strategy.
- Connected the founder with one of the leading VCs in the region that focuses on investing in startups by women founders.
Focus areas: Fundraising, Business Plan Consulting, Business Planning, Early-stage Funding, Pitch Decks, Early-stage Venture Capital, Startups, Startup Funding, Subscriptions, Consumer Products, Startup Consulting
Financial Modeling Expert
2023 - 2023
Arkgrow Pte Ltd
- Built a comprehensive three-statement model to project the target fintech/BNPL company's cashflows and derive the proposed valuation range.
- Provided strategic guidance for the investor on the ideal capital structure for the investment/acquisition.
- Advised the founder on ways to further improve the cashflows and profitability post-investment/acquisition.
Focus areas: Fintech, Financial Modeling, Specialty Finance, FIG, Consumer Services, Consolidated Reporting, Enterprise Software, Subscriptions, Credit Risk
Fractional CFO
2023 - 2023
ggs.io Company
- Improved the company's financial setup, reporting, and financial strategies.
- Assisted in auditing due diligence for investment rounds (including financial modeling, strategic guidance, valuation advisory, etc.) to ensure a successful raise from other investors.
- Provided strategic guidance on company structure in crypto and fiat asset management and diversification strategies.
Focus areas: Risk Management, Reporting, Forecasting, Financial Modeling, Fundraising, Revenue & Expense Projections, Business Models, CFO, Accounting, Blockchain, US GAAP, Financial Planning & Analysis (FP&A), Cryptoeconomics, Web3, Interim CFO, Consumer Services, Financial Reporting, Consolidated Reporting, Risk & Compliance, Budgeting, Operations, Policies & Procedures Compliance, Tokenomics, Startup Consulting
Pitch Deck Expert
2023 - 2023
Nebula Ltd
- Advised and developed the Web 3.0 gaming company's investment narrative and storyline that would be attractive to potential investors and could help differentiate it from other competitors.
- Developed a valuation framework for the business and advised the founder and senior management team on how to defend the valuation, how much stake they could give up for the raise at this round, and other best practices in the fundraising process.
- Advised the founder on the company's revenue model and business plan; updated the initial financial projections prepared by the company so that they would be more investor-friendly.
Focus areas: Pitch Decks, Fundraising, Startup Funding, Seed Fundraising, Financial Forecasting, Technology, Angel/Seed Funding, Web 3.0, Decentralized Finance (DeFi), Blockchain, Non-fungible Tokens (NFT), Blockchain & Cryptocurrency, Online Gaming, Ethereum, Business Plan Consulting, Metaverse, Web3, Tokenomics, Startup Consulting
Interim CFO
2023 - 2023
Birexo
- Worked as the interim CFO for an electronic money institution (EMI) and crypto exchange company.
- Advised the company on defining its business offerings and revenue model after conducting extensive research on business and monetization models of other fintech players and challenger banks.
- Prepared detailed financial projections and company valuation models based on these business offerings and plans.
- Helped the company by advising on the fundraising strategy, coming up with the investment narrative that could differentiate the company from other European fintech players, and preparing the investment materials.
Focus areas: Financial Modeling, Pitch Decks, Pitch Deck Consultant, Forecasting, Revenue & Expense Projections, Cryptocurrency Exchanges, CFO, SaaS, Software as a Service (SaaS), Fundraising, Early-stage Funding, Startups, Ethereum, Business Plan Consulting, Blockchain, Specialty Finance, Web3, Interim CFO, Financial Reporting, Consolidated Reporting, Subscriptions, Risk & Compliance, Budgeting, Operations, Policies & Procedures Compliance, Startup Consulting
VC | M&A | Investment Expert
2022 - 2023
PRIMORE HEALTHCARE GROUP INC
- Advised the CEO on setting up an investment office and presence in Asia (Hong Kong and Singapore).
- Sourced and built a strong pipeline of VC deals and early-stage tech companies in Asia; Advised the CEO and the investment committee on the thesis, risks, and valuation of these deals.
- Provided advice to the CEO on the investment office's fundraising strategy and helped prepare the fundraising materials.
Focus areas: Venture Capital, Investment Analysis, Investment Committee Advisory, Deal Sourcing, Investment Briefs, M&A (Buy-side), M&A Modeling, Revenue Projections, Revenue & Expense Projections, Fundraising, Fundraising Consultant, Family Office, Fund of Funds, Term Sheet Advisory, Consolidated Reporting, Subscriptions, Wellness, Software, High-tech Startups, Cloud Computing, Private Clouds, Startup Consulting, Private Equity Consultant, Minority Investments, M&A Strategy
Web 3.0 Valuation Expert
2022 - 2022
Epik
- Engaged by the CFO of a Web 3.0 gaming tech company to review its digital assets portfolio valuation.
- Assessed the valuation methodologies used by the company and made recommendations by reviewing on-chain data.
- Researched and introduced NFTfi protocols that could allow companies to access funding using NFTs as collateral to the CFO and the company.
Focus areas: Valuation, Blockchain, Web3.js, Non-fungible Tokens (NFT), Digital Asset Management, Online Gaming, Angel/Seed Funding, Angel Investing, Financial Forecasting, Hong Kong, Asia, Early-stage Funding, Startups, Ethereum, Metaverse, Web 3.0, Web3, Consumer Services, Subscriptions
Business Development Analyst for Crypto | Blockchain Company
2022 - 2022
Digital Wave Finance AG
- Researched key trends and risk factors in the decentralized finance (DeFi) space amid a bear market.
- Formulated a well-defined framework to categorize each risk factor users currently face when participating in the decentralized finance space.
- Used the framework further to develop a brand-new protocol to provide risk management tools against risks that are key to user economics, such as impermanent losses.
Focus areas: Business Development, Competitive Analysis, Blockchain & Cryptocurrency, Market Research, Market Trends, Fundraising, Startups, Cryptocurrency, Angel/Seed Funding, Early-stage Funding, Ethereum, Risk Management, Blockchain, Metaverse, Early-stage Venture Capital, Web3, Software
Company Research | SaaS and Chinese
2021 - 2021
Nitro Software Limited
- Researched the SaaS sector, especially the PDF market landscape, in China and the two major Chinese competitors Nitro Software has in China.
- Covered the competitors' financial performance, products, sales channels, pricing, major customers, and future focus areas through research and analysis.
- Delivered the findings (formatted in a PowerPoint deck) to Nitro's CEO, who was highly impressed by the work quality.
Focus areas: Competitor Analysis & Profiling, Market Research, Company Research, Software as a Service (SaaS), China, Mandarin-English Translation, SaaS, China Relations, Asia, Software
Senior Investment Manager
2018 - 2019
Tencent
- Oversaw Tencent's investments in interactive entertainment space (online gaming, music/video platforms, fintech, etc.) outside China, mainly in Southeast Asia and EMEA.
- Advised the founders of the early-stage portfolio companies on strategic financial planning and fundraising by helping them articulate the storyline, prepare financial projections and pitch decks, and introduce potential investors to the companies.
- Built the financial model and projections and led the company valuation and financial due diligence for the investment in Universal Music.
- Worked closely with the CFO and the finance team of Tencent Music Entertainment (NYSE: TME), the music arm of Tencent, for its US listing in 2018.
- Acted as the interim finance lead for Joox Music, Tencent's music streaming platform, during its overseas expansion.
- Worked closely with the CFO of each investee company to establish half-yearly budgets and meet Tencent's internal KPIs while overseeing a $1 billion global portfolio of overseas gaming companies.
- Led the M&A transaction for Tencent's $30 million acquisition of a game development studio in Sweden. Performed due diligence, reviewed the term sheet and other transaction documents, and led the post-integration process.
- Built the financial model and projections, devised the financial structure, and led the negotiation of the transaction documents for setting up a China-based esports team to join Activision Blizzard's Overwatch League.
- Provided strategic inputs and advice for the board members representing Tencent on the portfolio companies' latest developments, challenges, and strategic plans.
Focus areas: Post-merger Integration, Financial Analysis, Venture Capital, Mergers & Acquisitions (M&A), Investing, M&A (Buy-side), Stock Analysis, Corporate Finance, Fintech, Equity Investment, Pitch Decks, Revenue & Expense Projections, Forecasting, Due Diligence, M&A Modeling, Decentralized Finance (DeFi), Blockchain & Cryptocurrency, Blockchain, Non-fungible Tokens (NFT), Three-statement Modeling, Investor Presentations, Deal Structuring, Term Sheet Advisory, Term Sheet Negotiations, Deal Sourcing, Complex Transaction Agreements, M&A Earn-out Agreements, Deal Review, Shareholders' Agreement (JVA), Investment Strategy, Strategy, Social Networks, Mobile Payments, Business Models, Business Planning, Business Development, Competitive Analysis, Market Trends, Board Presentations, eCommerce, Seed Fundraising, Market Research, Singapore, Pricing, Market Research Analyst, Digital Banking, Startups, Financial Planning & Analysis (FP&A), Early-stage Venture Capital, Investment Analysis, Investment Committee Advisory, Investment Briefs, Cryptocurrency, Structuring of Funds, Fund Structure, Equity Research Analysis, Net Debt Analysis, Angel/Seed Funding, Angel Investing, Cash Flow, Employee Stock Options, China Relations, China, Financial Forecasting, Startup Funding, Series A, Hong Kong, Fundraising Consultant, Data Rooms, Fundraising Strategy, Asia, Software as a Service (SaaS), Fundraising, Edtech, Early-stage Funding, Reporting, Accounting, US GAAP, FIG, Specialty Finance, Metaverse, Artificial Intelligence (AI), Interim CFO, Consumer Services, Financial Reporting, Consolidated Reporting, Enterprise Software, Subscriptions, Wellness, Budgeting, Investor Reporting, Operations, Treasury, Treasury & Liquidity Management, Treasury Management, Cloud Computing, Private Clouds, Music Publishing, Music Production, Music, Music Streaming, Consumer Products, Minority Investments, Private Equity Secondaries, M&A Strategy, Private Placements
Investment Professional
2012 - 2018
Swiss Re
- Screened, built the financial model and projections, performed due diligence, and executed a $500 million investment into a Chinese life insurance company. Exited the investment at the end of a 4-year holding period, generating an IRR of 20%.
- Developed a valuation model and financial projections, performed due diligence, and reviewed legal documents for an international financial services company's $2 billion joint acquisition of their Hong Kong and Thailand businesses.
- Built a detailed financial and valuation model, created the investment committee presentation, and wrote the memorandum for a $120 million M&A, buy-side transaction of a listed UK insurer's Chinese subsidiary.
- Developed a valuation model and financial projections. Performed due diligence on a $50 million cornerstone investment in a Chinese fintech company's IPO.
- Developed a valuation model and financial projections and performed due diligence on a $2 million seed investment in an Indian fintech company.
- Developed the financial model and analyses, including cash flow, sensitivity, and waterfall, for the sale of a stake in an illiquid co-investment partnership structure to a New York-based private equity investor.
- Led a $5 million convertible bond investment in a Taiwanese commercial bank and oversaw the transaction process and analyses, including a review of the loan agreements, IRR sensitivity analysis, and subsequent monitoring of the position.
Focus areas: Financial Analysis, Mergers & Acquisitions (M&A), Growth Equity, M&A (Buy-side), Stock Analysis, Insurance Technology (Insurtech), Corporate Finance, Insurance, Fintech, Equity Investment, Pitch Decks, Revenue & Expense Projections, Forecasting, Due Diligence, Leveraged Buyout (LBO), M&A Modeling, Leveraged Buyout Modeling, Decentralized Finance (DeFi), Cryptocurrency Exchanges, Blockchain & Cryptocurrency, Blockchain, Three-statement Modeling, RiskMetrics, Investor Presentations, Deal Structuring, Term Sheet Advisory, Term Sheet Negotiations, Complex Transaction Agreements, M&A Earn-out Agreements, Deal Review, Shareholders' Agreement (JVA), Investment Strategy, Strategy, Mobile Payments, Business Models, Business Planning, Business Development, Competitive Analysis, Market Trends, Board Presentations, Market Research, Singapore, Market Research Analyst, Financing, Digital Banking, Financial Products, Banking & Finance, Startups, Financial Planning & Analysis (FP&A), Early-stage Venture Capital, Investment Analysis, Investment Committee Advisory, Investment Briefs, Structuring of Funds, Fund Structure, Equity Research Analysis, Net Debt Analysis, Angel/Seed Funding, Angel Investing, Cash Flow, Employee Stock Options, China Relations, China, Regulations, Financial Forecasting, Startup Funding, Series A, Hong Kong, Medical Devices, Data Rooms, Fundraising Strategy, Asia, Reporting, Risk Management, Accounting, US GAAP, FIG, Specialty Finance, Artificial Intelligence (AI), Interim CFO, Financial Reporting, Consolidated Reporting, Subscriptions, Credit Risk, Wellness, Investor Reporting, Treasury, Treasury & Liquidity Management, Treasury Management, Cloud Computing, Private Clouds, Private Equity Consultant, Minority Investments, Private Equity Secondaries, M&A Strategy, Private Placements
Investment Banking Analyst
2011 - 2012
Bank of American Merrill Lynch
- Assigned to cover insurance companies in the region because of strong financial modeling skills as part of the Financial Institutions Group's (FIG) industry team.
- Prepared investor outreach materials and financial models for the Hong Kong IPO of PICC Group.
- Advised a US-based insurance company on the potential acquisition of ING's Asian insurance business.
- Advised a Hong Kong-headquartered private equity investment firm on its investment in a mid-sized Chinese insurance company.
Focus areas: Mergers & Acquisitions (M&A), Corporate Finance, DCF Valuation, Pitch Decks, DCF Modeling, Three-statement Modeling, Capital Raising, Financial Planning & Analysis (FP&A), Manufacturing, Investment Analysis, Investment Committee Advisory, Investment Briefs, Fund Structure, Equity Research Analysis, Net Debt Analysis, China Relations, China, Regulations, Financial Forecasting, Hong Kong, Data Rooms, Fundraising Strategy, Asia, Accounting, US GAAP, FIG, Consolidated Reporting, Subscriptions, Treasury, Treasury & Liquidity Management, Treasury Management, Private Equity Consultant, Minority Investments, Private Equity Secondaries, M&A Strategy, Private Placements
Other Experience
Education
2008 - 2012
Bachelor's Degree in Finance and Business Economics
The Chinese University of Hong Kong - Hong Kong, China
Certifications
DECEMBER 2018 - PRESENT
CFA
CFA Insitute