DealStreetAsia’s seventh edition of the Asia PE-VC Summit goes live in Singapore on Tuesday.
The editorial-led flagship summit has got bigger and better with 85 of the region’s most influential deal-makers and entrepreneurs sharing valuable and actionable insights at the Asia PE-VC Summit 2022 on September 27 & 28.
The summit will bring you the most contextual, topical, and relevant content across the private equity, venture capital, and startup spectrum spanning markets including south and SE Asia, India, and China.
We have curated 20 sessions spread across two days covering the private equity, venture capital, LP-GP and founder tracks. Through a combination of fireside chats, panel discussions and keynote addresses, the summit speakers will explore the threads on the fastest-growing themes and trends in the region.
The sessions will cover LP-GP narratives; private equity and venture capital investing in tough times; early-stage deal momentum and fundraising trends; impact investing and decarbonisation trends; and focus sectors such as SaaS plays, kirana/warung tech, edtech, fintech and more.
The summit speakers represent top-tier firms including IFC, Baring Private Equity Asia, Partners Group, GoTo, GGV Capital, Silverhorn, Portfolio Advisors, Affirma Capital, upGrad, and many more.
The two-day summit also provides ample opportunities for quality engagements and networking with over 800 delegate attendees who constitute the senior leadership of the investment ecosystem in the region. Some of the companies that are participating include Khazanah Nasional Berhad, UOB, Grab, Tokyo Stock Exchange, Barclays, Temasek, GIC, KKR, to name a few. The summit offers nine hours of networking opportunities spread across the two days.
Across two days, 20 offline and four virtual sessions, the Asia PE-VC Summit 2022 is the place to be to evaluate, examine and navigate the big Asia investment story. Here’s a look at the sessions and high-impact conversations with dealmakers who are at the forefront of Asia’s growth story.
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Private Equity tracks on day 1 of the Asia PE-VC Summit
1. How is private equity in Asia riding the downcycle?
2021 was a record fundraising year for private equity (PE) firms globally and Asia was no exception. But global market volatility, rising geopolitical risks, and growth and inflation concerns have characterised much of 2022 so far. Will the macro-environment impact private equity in Asia? What effect is record dry powder having on the industry? Should fund managers be doing anything differently? What is the exit outlook for private equity investments?
- Kenneth Cheong, Managing Director, Baring Private Equity Asia Pte Ltd
- Nainesh Jaisingh, Founding Partner & CEO, Affirma Capital
- Eddie Ong, Deputy Chief Investment Officer & Managing Director (Private Investments), SeaTown Holdings
- Doug Coulter, Partner, Head of Private Equity, Asia-Pacific, LGT Capital Partners
- Deepshikha Monga, Editor, DealStreetAsia (Moderator)
2. Fireside Chat: The LP View – Investing in Asia: Opportunities in the largest markets and beyond
Against the backdrop of global market turmoil and economic and regulatory uncertainty, where are the opportunities for private equity investors? How have events in China – at the policy and regulatory levels – over the last two years impacted investor sentiment and allocations? How have LP-GP dynamics evolved in recent years? As ESG issues take centre stage, how do LPs assess the ESG alignment of GPs? Are LPs increasingly looking at direct and co-investments? What’s driving this?
Francois Pictet, Managing Partner, Pictet Group
In conversation with Michelle Teo, Managing Editor, DealStreetAsia
3. Fireside Chat: Post-pandemic, has edtech in India fallen out of favour?
After amassing hordes of capital in the wake of the pandemic in 2020, edtech startups are now staring at a funding winter and valuation correction. Those that have been impacted the most are the ones operating in the K-12 segment. What does the future hold for edtech startups in India? Does their business model need a reset? What about startups that provide online higher education courses for working professionals? What are the new opportunities and niches that will capture venture dollars?
Ronnie Screwvala, Co-Founder & Chairperson, upGrad
In conversation with Joji Thomas Philip, Founder & Editor-in-Chief, DealStreetAsia
4. The LP View: Backing emerging market and first-time managers in adverse times
The global economic uncertainty and a shift in focus towards sustainable growth are widely expected to impact the fundraising prospects for new vehicles, especially those focused on emerging markets or launched by first-time managers. As Asia continues to present key growth opportunities, how are dynamics between LPs and GPs evolving? In the current environment, how should emerging managers approach LPs? Will the going be tougher for first-time fund managers raising debut vehicles? Will operating across different cycles prove to be an advantage?
- Soo Yar-Ping, Partner, Primary Investments, Adams Street Partners
- Huai Fong Chew, Regional Lead, East Asia & the Pacific PE Funds, IFC
- Dave Richards, Managing Partner, Capria Ventures
- Sarah Chen, Co-Founder and Managing Partner, Beyond The Billion (launched as The Billion Dollar Fund for Women)
- Tsubasa Suruga, Staff Writer, Nikkei Asia (Moderator)
5. Time for private credit to shine in Asia
While the private debt market currently in Asia is currently minuscule compared to global markets, and largely untapped, there is an anticipated demand for such non-bank, long-term financing for growth enterprises. Global PE majors have readied billions of dollars of private credit capital to deploy in the region. This panel will explore the top sectors and markets that will drive private credit growth in Asia. How is the risk-return profile evolving for private debt investors in Asia and what is the outlook ahead? With a spate of bad loans turning mainstream banks wary, will private credit emerge as a core financing tool by filling the gap left by lenders?
- Denny Goenawan, Managing Partner, Indies Capital Partners
- Wei Hsien Chan, Managing Director, Seatown Holdings
- Nitish Agarwal, CEO and CIO, Orion Capital Asia
- Matthew Michelini, CEO, Apollo Asia-Pacific
- Justin Ferrier, Managing Partner, Private Credit, Navis Capital Partners (Moderator)
6. Values vs value: Scaling impact through private capital
Investing with the intent of combining profit with purpose is no longer only the domain of development finance institutions or philanthropic organisations. With major global institutional LPs pushing for ESG and impact mandates and larger PE players raising dedicated ESG vehicles, the market is ripe for impact investing moving beyond token investments. How does investing with purpose drive better returns? Even as allocation to the sector grows, where are the sectors that can do with more capital? The importance of due diligence and measuring the impact outcome: How evolved is that process? How do managers and LPs respond to “impact washing”?
- Chik Wai Chiew, CEO and Executive Director, Heritas Capital
- Mahesh Joshi, Head, Private Equity Investment Asia, BlueOrchard Finance
- Ivan Kwong, Principal, KKR & Co. Inc.
- Utari Octavianty, Co-Founder and Chief Sustainability Officer, Aruna
- Michelle Teo, Managing Editor, DealStreetAsia (Moderator)
7. PEs & VCs compete on the same turf with rising growth funds and lure of tech bets
As SE Asia’s private capital ecosystem matures, the growth equity stage is attracting more interest from both venture capital and private equity players alike. What’s driving the trend? And with that, how is the growth trajectory for young companies in the region shaping up? What is the impact of the robust capital pool chasing a comparatively smaller set of assets?
- Vadim Shpak, Operating Managing Director, Vickers Venture Partners
- Shilpa Kulkarni, Founder and Managing Partner, Panthera Growth Partners
- Sunil Thakur, Partner, Quadria Capital
- Anupum Khaitan, Executive Director, Capital Square Partners (Moderator)
8. Is the time ripe for secondaries as IPOs and trade exits turn cold?
The market for secondaries transactions is poised for take-off, driven by a maturing startup ecosystem and funds reaching the end of their fund life. How has the market for secondaries evolved in Southeast Asia? Will the region attract more regional and global secondaries players?
- Paul Robine, Founder & CEO, TR Capital
- Michael Liu, Managing Director, Portfolio Advisors
- Desmond Lee, Managing Director, NewQuest Capital Partners
- Jason Sambanju, Partner, CEO & Founder, Foundation PE (Moderator)
9. What makes PE investors bet on SE Asia’s macro story?
2021 was a record fundraising year for private equity firms globally, and Asia was no exception. But global market volatility, rising geopolitical risks, and growth and inflation concerns have characterised much of 2022 so far. How does the macro environment impact PE in Southeast Asia? Where are the opportunities that can continue to drive alpha? With more capital chasing deals in the region, should fund managers be doing anything differently? What is the exit outlook for PE in the region?
- Bert Kwan, Head of Private Equity, Silverhorn
- Kerry Goh, CEO and Chief Investment Officer, Kamet Capital
- Dr Thomas Lanyi, Head Southeast Asia, CDH Investment Advisory Private Limited
- Wei Jian TOR, Managing Director, EQT Private Equity
- Andrea Campagnoli, Partner, Bain & Company (Moderator)
10. Closing Keynote: Have we hit the bottom? Where do we go from here?
While SE Asia’s strong macro story stays strong, the global economic headwinds will test the resilience of fund managers, founders and investors betting on the region’s growth potential. The buzz has shifted from vanity metrics and unicorn tags to sustainability, unit economics and path to profitability as businesses and investors align to the new context. How long will this phase last? Which sectors/verticals and business models will ride the storm and which sectors will see pivots and consolidation? How will fund managers reset their investing strategies? What is the outlook on exit events?
By Nick Nash, Co-Founder and Managing Partner, Asia Partners
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Venture capital sessions on day 2 of the Asia PE-VC Summit 2022
1. Fireside chat: Balanced growth & governance focus are key to building sustainable enterprises
Shailendra Singh, Managing Director, Sequoia Capital India Advisors
In conversation with Joji Thomas Philip, Editor-in-chief, DealStreetAsia
Sequoia Capital recently closed its latest fund at $2.85 billion with $2 billion earmarked for seed and growth stage ventures in India, and a stand-alone $850-million dedicated vehicle for Southeast Asia. The firm continues to be the largest venture capital investor across all stages in both regions – it has put in more than $5.5 billion in India alone since 2017, making over 400 investors. Sequoia Capital India and SE Asia managing director Shailendra Singh will join us for a fireside chat to discuss how companies can navigate the funding winter, and what the future holds for the startup ecosystem. With some of the VC firm’s portfolio companies being hit by governance lapses, Singh will also highlight the proactive steps the firm is taking to address these concerns, and its pledge for greater governance, even as it continues to work with founders to build sustainable businesses designed to endure.
2. VCs have a diversity problem. What can they do to bridge the gap?
According to a 2022 report by DealStreetAsia – DATA VANTAGE, about 77% of venture investors headquartered in Southeast Asia did not have a single woman in an investment decision-making role. In comparison, about 66.6% of the Asian and global investment firms with a presence in the region had no female decision-makers at all. How can VCs address the lack of gender diversity at their own firms? We ask leading female VCs to share their experience and insights.
- Rishika Chandan, Managing Director, Venturi Partners
- Pinn Lawjindakul, Partner, Lightspeed Venture Partners
- Cristina Ventura, General Partner & Chief Catalyst Officer, White Star Capital
- Deepshikha Monga, Editor, DealStreetAsia (Moderator)
3. Are early-stage deals still hot amid funding winter?
The market for early-stage funding in Asia continues to hold strong at a time when broad economic gloom has taken the shine off IPOs and prolonged exit timelines for investors in mature startups. Seed to Series A startups are still securing substantial funds from global and regional tech investors, who are doubling down on Asia as they seek to deploy in fast-growing markets and niches. How will this continue to play out? Will the challenges at the later stages impact the younger startups? And, as more capital comes into the market, how do investors secure quality deals?
- Anup Jain, Managing Partner, Orios Venture Partners
- Avina Sugiarto, Partner, East Ventures
- Khailee Ng, Managing Partner, 500 Global
- Jennifer Ho, Partner, Integra Partners
- Andi Haswidi, Head of ASEAN Research, DealStreetAsia (Moderator)
4. Build local, think global: The opportunity for cross-border SaaS play
Risk capital investors are seizing on the big promise in the SaaS space as predictable revenue streams, service-led business models and rapid digitalisation make the companies among the most stable investments in the current environment. At the same time, after establishing themselves abroad, SaaS companies are now seeing traction at home. How will this play out in the post-pandemic world? What does it take to build globally-competitive SaaS giants? How can both investors and businesses find their niche?
- Kabir Narang, Founding General Partner, B Capital Group
- Cyrus Driver, Managing Director, Partners Group
- Nishant Rao, Founding Partner, Avataar Venture Partners
- Mohan Kumar, Managing Partner, Avataar Ventures (Moderator)
5. Fireside chat: Capturing value in a downturn as private market valuations hit correction course
- Jenny Lee, Managing Partner, GGV Capital
- In conversation with Joji Thomas Philip, Founder & Editor-in-Chief, DealStreetAsia
With over 350 firms in its portfolio including 85+ unicorns, GGV is among the world’s most active investors across the seed to growth stages. GGV Capital managing partner Jenny Lee, who has seen plenty of market cycles in her 22 years in the venture capital industry, joins us in a fireside chat to share her perspectives on venture investing during a bear market and the path to compound returns. Specifically, on SE Asia, she will touch upon long-term megatrends, current stages of adoption and exponential growth opportunities being created, which aren’t impacted by the funding winter. We will also ask her views on the crypto space and yield opportunities across alternative investments and web 3.0 in 2023 and beyond.
6. Fintech in SE Asia turning into an ecosystem play. What next?
Accelerated digital adoption across-the-board, during the pandemic years, has opened up an array of opportunities in the fintech space that go way beyond the payments and allied spaces. Digital financial services are increasingly becoming a vast ecosystem play either through partnerships or acquisitions, particularly in the banking space, as tech startups seek to tap a huge user base and lower cost of funds. How will the fintech ecosystem play build out in SE Asia? How critical will the financial services layer be for developing super apps?
- Juliet Zhu, Group President & CFO, CARSOME
- Julian Tan, Founder & CEO, FastCo
- Ganesh Rengaswamy, Co-Founder & Managing Partner, Quona Capital
- Darius Cheung, CEO, 99.co
- Nicholas Smalle, Partner, Apis Partners
- Dmitry Levit, Founder & General Partner, Cento Ventures (Moderator
7. The future of Warung/Kirana tech in India and SE Asia
Kirana/warung tech, the digitalisation of small brick-and-mortar retailers and corner shops, has transformed the retail landscape in emerging markets. B2B tech startups that have built their business models around digitising the retail supply chain have secured big-ticket funding as investors bet heavily on this space. What’s next for the ‘kirana tech’ play in India and Southeast Asia? Are there opportunities left uncovered? How is the path to profitability shaping up for these B2B startups? As the scene matures, is consolidation ahead?
- Smita Aggarwal, Global Investments Advisor, Flourish Ventures
- Abhinay Peddisetty, Co-Founder & CEO, BukuWarung
- Arvind Sankaran, Founder, Imaginarium Advisors
- Visa Kannan, Partner, Saison Capital (Moderator)
8. Venture investing and generating alpha in turbulent times
Fundraising by Southeast Asia-based VCs had a robust first half of 2022, indicating that the full-year performance is likely to surpass pre-pandemic levels, which peaked in 2019, per DealStreetAsia’s Data Vantage report. Flush with dry powder waiting to be deployed in SE Asia, the challenge for both homegrown and overseas venture capital firms will be on choosing the right bets at the right price and building sustainable businesses to generate multiples on their investments. How will VCs differentiate themselves and their strategies while picking and building winning bets? Will early-stage funding momentum lead to gaps at a later stage amid uncertainty in traditional exit options?
- Seamon Chan, Co-Founder and Managing Partner, Palm Drive Capital
- Helen Wong, Managing Partner, AC Ventures
- Jessica Huang Pouleur, Partner, Openspace Ventures
- Yinglan Tan, CEO & Founding Managing Partner, Insignia Ventures Partners
- Kristie Neo, Senior Writer, DealStreetAsia (Moderator)
9. Driving decarbonisation: How the startup ecosystem can take the lead
The climate crisis is upon us, and there is little doubt that policymakers, entrepreneurs, and investors need to work toward Net Zero. So far, the lack of progress and concrete action has been disappointing. But it also means a meaningful opportunity for innovators and risk capital to step into the fray. What are the key innovations underway? What are the areas that are in most need of risk capital, and how do investors assess them? How else can the ecosystem prioritise sustainability?
- Sui Ling Cheah, Operating Partner, Wavemaker Partners
- Pui Yan Leung, Partner, Vertex Ventures Southeast Asia & India
- Caroline Wee, Investment Partner, Asia, Circulate Capital
- Grace Sai, Co-founder and CEO, Unravel Carbon
- Dylan Loh, Singapore Correspondent, Nikkei Asia (Moderator)
10. Closing Fireside: GoTo: Scaling up ecosystem integration for greater impact?
Indonesia-listed technology giant GoTo – created by the merger of two of the country’s most valuable startups Gojek and Tokopedia – is eyeing a faster path to profitability by maintaining a better cost structure and leveraging its vast ecosystem. GoTo has been implementing integration across its core business segments, a move seen to accelerate its breakeven targets. In fact, the group has brought forward its breakeven guidance by three to four quarters. What are the challenges to monetisation for GoTo and its peers? How is GoTo managing integration challenges? How will GoTo go about enhancing value-addition across the ecosystem? How does GoTo see product-led growth achieve its profitability goal?
Catherine Hindra Sutjahyo, Director / Head of Food and Indonesia Sales & Ops, GoTo
In conversation with Akito Tanaka, Chief business news correspondent, Singapore Bureau, NIKKEI & Nikkei Asia
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Virtual Sessions
[Virtual Sessions are exclusively curated pre-recorded sessions and will only be sent to participants with valid registration for the Asia PE-VE Summit 2022 in Singapore].
1. Fireside Chat: Investment & exit opportunities for private equity in India – The road ahead
Satish Chander, Partner, True North
In conversation with Paramita Chatterjee, Editor, DealStreetAsia
Even as investors are taking a cautious approach towards fresh investments, digitalisation has emerged as a consistent theme in India, be it telecom, healthcare, financial services or education. In such a scenario, what are the opportunities and challenges for entrepreneurs looking to address the needs of the local population?
2. Pakistan’s long-term investment potential intact despite funding slowdown
Pakistan received record venture capital funding in 2021, attracting investments from several global investors and many first-time investors betting on the region’s emerging market. However, amid the global macro uncertainty, tech selloff and the so-called funding winter, Pakistan’s startup ecosystem too suffered setbacks in terms of a capital squeeze, layoffs and shutdown of businesses. We ask panelists about the long-term potential of the nascent startup ecosystem and the role investors have to play in fostering the development of sustainable businesses. What are the lessons that the fledgling entrepreneurial ecosystem can apply from more mature markets? What is the investment outlook for 2022 and beyond?
- Faisal Aftab, Co-Founder, Zayn Capital
- Misbah Naqvi, General Partner & Co-Founder, i2i Ventures
- Omer Khan, Founder, PostEx
- Halima Iqbal, CEO and Founder, Oraan
- Ariba Shahid, Contributor, Pakistan, DealStreetAsia (Moderator)
3. From unicorn frenzy, the balance tilts to sustainable business models in India
India produced a record 45 unicorns in 2021, overtaking the UK to emerge as the third highest country in the number of unicorns after US and China. However, this year, there has been a blip. With macroeconomic headwinds derailing the dealmaking momentum, India generated only a handful of four startups during the second quarter. In the first quarter, however, as many as 14 startups achieved the coveted status. With investors preferring to back clear category winners, will consolidation be the theme going forward? How is the overall macro landscape affecting the valuation trends?
- Sanjeev Bikhchandani, Founder, Info Edge India
- Mandar Dandekar, Partner, Sorin Investments
- Sameer Brij Verma, Managing Director, Nexus Venture Partners
- Paramita Chatterjee, Editor, DealStreetAsia (Moderator)
4. Fireside Chat: Top concerns & focuses for China VCs as they up stakes in global market
Against the backdrop of a global economic slowdown and geopolitical uncertainties, Beijing’s tech crackdown and stringent COVID travel restrictions are increasingly adding to the pressure on investment sentiment across the Greater China region. Players in China’s startup ecosystem – from unicorns and their PE-VC investors to family offices and high-net-worth individuals – are increasingly shifting sights to emerging markets such as Southeast Asia. How is the government agenda influencing strategies and decision-making of Greater China investors? What are the major challenges and concerns in Chinese VC firms’ forays into the global market? How will it change the investment landscape across Asia?
Chibo Tang, Managing Partner, Gobi Partners
In conversation with Eudora Wang, Senior Reporter, DealStreetAsia
