Alec Tseung
Verified Expert in Finance
Finance Expert
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
Education Highlights
Certification Highlights
Case Studies
Expertise
Work Experience
Fundraising/Pitch Deck Expert
Triple S Holdings Limited
- Revamped the business model and the investment narrative that would be considered attractive by potential venture investors.
- Built the financial projections, pitch deck presentations, and other investor materials for the new business model and investment narrative.
- Led the fundraising efforts by walking through potential investors the business model and investment thesis, advising on the valuation/terms, etc.
Partner
KT Capital Group
- Invested in a leading US-based, early-stage, sector-agnostic VC fund as the limited partner (LP).
- Sourced a proprietary opportunity to invest in a fintech company in Greater China and attracted co-investors. The investment fully exited with an IRR of around 25% by exercising the option to sell the vehicle's stake back to the company's founder.
- Engaged by a Hong Kong-based family office to lead and advise on the exit of its majority investment in a general insurance company in Kazakhstan. Its stake in the insurer was successfully sold to the leading local bank in Kazakhstan.
- Engaged by a private equity investor in Southeast Asia to provide an independent valuation report on a leading private composite insurer in Singapore to help them assess the potential investment/acquisition.
- Worked as a fundraising consultant for an AI startup that provides tools for building decentralized finance apps. Prepared the projections and investor presentations and advised on the company valuation, fundraising amount, target investors, etc.
- Provided advisory services to a SaaS company regarding its pre-Series A fundraising. These included building the financial and revenue model, conducting the valuation, advising on the pitch deck, and communicating with potential investors.
- Worked with the Innovation Group of DBS Bank in Singapore to provide a thought leadership report for its CEO and senior management on the latest developments in decentralized finance/Web 3.0 and the key trends currently shaping the industry.
- 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.
- Tasked 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.
- Tasked 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.
Fundraising Expert (via Toptal)
Spectronik Pte Ltd
- Worked closely with the co-founders to craft the investment narrative and storyline to be attractive for potential VC and institutional investors.
- Revised the revenue projections by recognizing and modeling new revenue sources based on the new business model.
- Developed the valuation model and showcased to the founding team how to best defend and justify the valuation.
- Originated and developed a list of venture and institutional investors in the US with a strong focus on ESG and impact investing. Advised the founder on how to approach and pitch these investors.
Credit Scorecard Expert
Ancoria Bank
- Worked closely with the data analytics team to co-develop a framework of credit assessment for the bank's new buy now, pay later (BNPL) product based on the limited data the bank and its Insurtech partner had.
- Advised the team on the key metrics to focus on and developed/enhanced the credit rating system supported by market research findings.
- Researched and looked at household financial asset allocation (in Greece, the target market) to gauge the volatility of an average household's investment income (income from bank deposits, fixed income investments vs. equity).
- Worked on this research that demostrated potential volatility, further reflected in the consumer's credit risk assessment and scorecard.
Strategic Advisor
Tryko Technologies Inc.
- Advised the founding team on launching fintech products and offerings, including insurance, lending, and card issuance, to the trike drivers who signed up for the mobility platform.
- Introduced one of the largest tech companies in Southeast Asia (VP of its Corporate Development team, who's a personal contact) to kickstart the discussion of having the tech giant as a strategic investor.
- Secured a strategic partnership with one of the largest insurance companies in the Philippines by connecting the insurer's Chairman (who's a personal contact) with the team.
- Advised the founding team on the company's growth strategy and expansion plan in Southeast Asia, fundraising strategy/routes, valuation, etc.
- Provided strategic inputs and co-designed the credit assessment mechanism and credit scorecard for the drivers interested in the lending/borrowing offerings.
Fundraising Expert
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.
Financial Modeling Expert
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.
Interim CFO
ggs.io Company
- Led weekly meetings and calls with the CEO and COO to review the company's financials to ensure that they were ready for financial due diligence by potential investors.
- Created and developed a dashboard that included all relevant and important KPIs senior management and investors should focus on.
- Provided strategic guidance to the accountant/bookkeeper, especially on how to best present numbers, and made appropriate adjustments to cater to the requirements of different investors.
- Contributed to the company's business development efforts in Asia by introducing and connecting personal industry contacts with the company.
- Assisted in auditing due diligence for investment rounds (including financial modeling, strategic guidance, valuation advisory, etc.) to ensure a successful raise from other investors.
Pitch Deck Expert
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.
Interim CFO
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.
VC | M&A | Investment Expert
PRIMORE HEALTHCARE GROUP INC
- Advised the CEO on establishing an investment office and presence in Asia (Hong Kong and Singapore).
- Sourced and built a strong pipeline of VC and growth private equity deals. Advised the CEO and the investment committee on the thesis, risks, and valuation of these deals.
- Advised the CEO on the investment office's fundraising strategy and helped prepare the fundraising materials. Introduced long-term LP investors, including insurers, pensions, and sovereign wealth funds, to the CEO.
Web 3.0 Valuation Expert
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.
Business Development Analyst for Crypto | Blockchain Company
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.
Company Research | SaaS and Chinese
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.
Investment Director
Tencent
- Oversaw Tencent's investments in interactive entertainment space (online gaming, music/video platforms, fintech, etc.) outside China, mainly in Southeast Asia and EMEA.
- Led the portfolio management efforts of VNG, a leading tech company in Vietnam. Worked closely with VNG's management on matters related to strategic partnership with Tencent, fundraising, potential IPO plans, future growth strategy, etc.
- Advised the founders of the early-stage portfolio companies on strategic financial planning and fundraising by helping them prepare financial projections and pitch decks, advising on valuations, and introducing 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 Tencent Video, Tencent's over-the-top (OTT) streaming media platform, during its overseas expansion.
- 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.
Investment Professional
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.
- Created a valuation model and financial projections. Performed due diligence on a $50 million cornerstone investment in a Chinese healthcare technology 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 the portfolio management efforts of Vietnam National Reinsurance Corporation (Vina Re), where Swiss Re was the 2nd largest shareholder (after SCIC). Joined board meetings and led the strategic partnership discussions between Swiss Re and Vina Re.
- 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.
- Led a $41 million investment in Lifenet Insurance in Japan, one of the earliest Insurtech companies in Asia. Oversaw the whole transaction and subsequent monitoring of the position.
- Helped divest the company's co-investment interest in the Japanese bank, Shinsei Bank, by initiating and negotiating a sale back to the GP of the co-investment vehicle (J.C. Flowers & Co).
Investment Banking Analyst
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 potentially acquiring ING's Asian insurance business.
- Advised a Hong Kong-headquartered private equity investment firm on its investment in a mid-sized Chinese insurance company.
Education
Bachelor's Degree in Finance and Business Economics
The Chinese University of Hong Kong - Hong Kong, China
Certifications
CFA
CFA Insitute
Skills
Finance
Financial Modeling, M&A, Private Equity, Valuations, DCF Valuation, Capital Raising, Valuations, Equity Capital, Equity Valuation, Discounted Cash Flow (DCF), Investment Thesis Consulting, Reinsurance, Fundraising, Corporate Finance, Private Company Valuation, Market Research Analyst, M&A (Buy-side), Equity Research, M&A Modeling, Due Diligence, Forecasting, Revenue & Expense Projections, Valuation Modeling, Leveraged Buyout Modeling, M&A (Sell-side), Blockchain Consultant, Three-statement Modeling, Pricing, FP&A, Investment Briefs, Equity Research Analysis, Net Debt Analysis, Angel/Seed Funding, Cash Flow, Startup Funding, Interim CFOs, Accounting, FIG, Specialty Finance, Financial Reporting, Minority Investments, Private Equity Secondaries, Debt Raises, Portfolio Analysis, Cash Flow Modeling, Investment Return Scenario Analysis, Chartered Financial Analysis, Controller, P&L Forecasting, Profit & Loss (P&L), Revenue Modeling, Credit/Debt, Private Equity Valuation, Project Finance Consulting, Credit Underwriting, Trade Finance, Working Capital Management, Hedging, Venture Funding, Seed Fundraising, RiskMetrics, M&A Earn-out Agreements, Fund Structure, Structuring of Funds, Series A, Credit Risk, Budgeting Consulting, Consumer Lending, Consumer Loans, Microfinancing, Micro Lending, Environmental, Social, and Governance (ESG) Rating, Growth Equity, Financial Accounting, Investment Memoranda, M&A, Deal Advisory, Five-year Projections, Fund of Funds, Risk
Output Software
Microsoft PowerPoint, Excel Development
Industry Expertise
Venture Capital, Insurance Technology (Insurtech), Insurance, Life Insurance, Financial Services, Institutional Investors, Early-stage Startups, Public Companies, Oil & Gas, Asset Management, Confidential Information Memorandum (CIM), Capital Markets, Technology, Banking Consulting, Tokenomics, Software Development, High-tech Startups, Music, Consumer Products, Healthcare App Design, Energy, Private Clouds, Automotive
Geographic Expertise
Asia-Pacific (APAC), China, Southeast Asia, Hong Kong, Asia, Singapore
Data & Analysis Software
Intuit QuickBooks, Bloomberg
Other
Financial Analysis, Stock Analysis, DCF Modeling, Emerging Markets, Sensitivity Analysis, Investments, Equity Investment, Financial Software Development, Investment Cases, Finance, Financials, P&C Insurance, Startup Development, Business Development, Fintech, Presentation Design, Pitch Deck Consulting, Market Research & Analysis, Business Strategy, Marketing Research & Analysis, Business Plan Consulting, Cryptocurrency Exchanges, Blockchain & Cryptocurrency, Crypto, Leveraged Buyout (LBO), Decentralized Finance (DeFi), Investor Presentations, Term Sheet Advisory, Term Sheet Negotiations, Deal Sourcing, Deal Review, Investment Strategy, Business Modeling, Business Planning, Design Strategy, Competitor Analysis, Market Trends, Board Presentations, Market Research Analyst, Early-stage Venture Capital, Investment Analysis, Investment Committee Advisory, Cryptocurrency, Angel Investing, China Relations, Financial Forecasting, Fundraising, Fundraising Strategy, Early-stage Funding, Metaverse, Web3, Interim CFOs, Consolidated Reporting, Risk & Compliance, Investor Reporting, Startup Consulting, Private Equity, M&A Strategy, Buy Now Pay Later (BNPL), Credit Scores, Information Memoranda, Growth Strategy, Business to Business (B2B), Investor Relations, Fintech, Research, Stock Market Consulting, Data Research, Due Diligence, Storytelling Design, Content Creation, Content Writing, Investment Research, Alternative Investments, Finance Blog, B2B Design, Hedge Funds, Marketplace Design, Financial Writing, P&L Management, Fractional CFOs, Business Consultant, Waterfall Modeling, Risk Modeling, Asset Securitization, Small & Medium-sized Enterprises (SME), Infrastructure, Mentorship & Coaching, CIM, Teasers, Investor Relations, NFT, Deal Structuring, Complex Transaction Agreements, Shareholders' Agreement (JVA), Mobile App Design, Social Networks, Tokenization, Investment Banking, E-commerce marketing, Web 3.0, Digital Asset Management, Financial Products, Financing, SaaS, SaaS, Employee Stock Options, Data Rooms, Edtech Design, Ethereum, Reporting, Risk Management, US GAAP Accounting, Artificial Intelligence, Consumer Services, Enterprise Software, Subscriptions, Wellness, Operations, Policies & Procedures Compliance, Treasury, Treasury & Liquidity Management, Treasury Management, Music Publishing, Music Production, Music Streaming, Private Placements, Healthcare IT, Part-time CFO, Health IT, Metals & Mining, Growth Strategy, Grants, Cash Flow Consultant, Process Design, Merchant Cash Advances, Hardware, Copywriting, Environmental, Social, and Governance (ESG), Healthtech, Asset Tokenization, Grant Proposals, S&P Capital IQ, Post-merger Integrations, Business, Economics, Asset Liability Management (ALM), Regtech, Modeling, Revenue Projections, Transaction Advisory, Business Process Outsourcing (BPO), Web3.js, Digital Banking, Competitor Analysis & Profiling, Company Research, Mandarin-English Translation, Manufacturing, Trade, Financial Statements, Online Gaming, Cryptoeconomics, Equity Markets, Regulations, Medical Devices, Enterprise SaaS, Recruitment, Family Office, Cloud Computing, NLP, Property Management, Risk Scorecards, Electric Vehicles, Cryptocurrency Trading
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