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Alternative Market Briefing

Early stage venture capital investing heats up in Asia

Friday, April 26, 2019

Bailey McCann, Opalesque New York:

For investors looking to Asia for private equity opportunities, delegates at the recent Opalesque Asian PE Roundtable suggest that early stage venture capital investments might be the golden ticket over the next few years. Asian economies have a longstanding reputation for being focused on technology innovation, but the next generation is leveraging decentralized technology to stand up new ideas quickly and go to market. For investors that get in early, the upside can be significant.

Venture investments in Asia are usually done in much smaller denominations than investors from the US might be used to - $5-10 million can be a meaningful venture investment in Asia. However, the return multiples are often significantly higher. "It's hard to figure out which ones are together and going to make it, but the multiples are not 3X - the multiples in my space are 50X, 90X, 200X - massive multiples," says Graham Leach, Operating Partner at Hong Kong Emerging Technologies Venture Fund.

The timeline for venture investments in Asia is also accelerated. Leach says he's noticed a new pattern where a company gets started with a quarter million of seed capital and goes to market with a minimally viable product raising $2-5 million on the way. From there, the company builds out its offering and goes back to the market for $5-10 million. Once that milestone has been achieved, companies create a security token offering - moving fro......................

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