Embracing Differences to Drive Value Creation

Edmond And Adalyn

Interview with ACE.SG

The phrase no man is an island is very apt in the innovation world. Investors need founders as much as founders need them, founders need their superstar teams as much as the teams need the founders. The same can also be said for members of a Venture Capital investment team.

We recently caught up with Edmond Wong, Partner at iGlobe Partners, and Adalyn Yeap, Vice President, to learn more about what it means to recognize nuances and embrace differences to deliver outsized results and impact.

“VC tech investing is about spotting an unsolved big problem with a simple solution,” shares Edmond, crediting his vigorous training in Civil Engineering and Information Technology to equip in him a natural curiosity to problem solving.

From his prior experience working with various stakeholders across diverse cultures in Corporate Venture Capital, Edmond adds “it’s also about working to get the chemistry right and aligning to build great companies with an ultimate exit that rewards both founders and investors.”

Adalyn, on the other hand, came from the audit background.

“My transition from audit to investing was both deliberate and thoughtful,” she explains, “I wanted to make the shift from analyzing what has already happened to influencing what could happen in the future, an opportunity to proactively engage with drivers of innovation and business growth.”

“The jump to VC represents my commitment to being part of a dynamic field where I can leverage my financial expertise to catalyze technological progress and meaningful innovation,” she adds.

Despite their varied experiences, the dynamic duo works closely together. The most notable investment done jointly is Inkbit, a deep tech startup spun off from Massachusetts Institute of Technology that is transforming the world’s supply chain.

“The decision to invest in Inkbit was driven by both its innovative approach and its potential to address significant global challenges. Specifically, Inkbit’s on-demand 3D printing technology offers a strategic solution to disruptions in the global supply chain. Recent events, such as the blockage of the Suez Canal by a large container ship and the ongoing crisis with sea pirates in the Black Sea corridor, have highlighted the vulnerabilities in traditional manufacturing and distribution models (80% of world trades are seaborne). Inkbit’s technology enables localized, on-demand production, reducing reliance on complex and often fragile global supply chains,” Edmond explains.

A large part of going deep to learn about foreign environments and how things work is something that Edmond is accustomed to.

Working closely with Edmond on cross-border VC deals, Adalyn began to appreciate differences in markets and how embracing them can open new doors of innovation and growth.

“Diving into tech investing, particularly in the realm of deep tech, has introduced a steep learning curve I still continue to navigate,” shares Adalyn, “Collaborating with industry experts has been indispensable and their deep insights and frontline perspectives are crucial in helping me make sense of complex innovations, assessing their practical impacts and market potential.”

“The goal whether you are investing in the US or Singapore is the same and that is to identify and nurture startups with the potential to scale and deliver impactful results. But investment approaches must be adapted to the distinct economic, regulatory, and cultural environments of each region,” tells Adalyn.

And on the portfolio management front, things are largely the same, in that there are plenty of subtle differences that one needs to consider when supporting the growth of the startups.

“The US market is relatively homogeneous, whereas Asia is a fragmented market which presents unique challenges that require a nuanced approach.”

“This is why when one of our portfolio companies, SWAT Mobility, a Singapore-based leader in smart mobility solutions, wanted to expand to Japan, we understood the necessity of having strong local investors and partners and introduced a top-tier Japanese VC to lead SWAT’s Series A financing round. Subsequently, in 2019, SWAT recruited its first Japanese Country Head, which significantly bolstered its local presence and operational capabilities.”

If there’s one big takeaway from chatting with them, it is this: it’s all about finding the right partner and building a deep and trusting relationship.

“While cash is king during this funding winter, founders must decide for themselves which investors to work with,” Adalyn quips. “This goes beyond mere acceptance of investment but also walking the entrepreneurial journey together through the ups and downs.”

The content was first published in ACE.SG Corporate Newsletter. Find out more about ACE.SG.

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