5 Questions with VC venturer Helen Wong

WHEN starting out in a career, there can be plenty of “noise” in the form of unwarranted feedback. But venture capitalist Helen Wong has learnt that you also have to trust your own instinct.

Wong is known for her expertise in China tech, having worked with high-profile investors GGV Capital and Qiming Venture Partners, and serving on the boards of Youku and Mobike. She has also led deals in South-east Asia, such as investments into Indonesian fintech Akulaku and hospitality brand Reddoorz. Wong continues to look into the region's disruptors, as a senior adviser and venture partner at AC Ventures, an Indonesia-focused early stage fund.

In this edition of 5 Questions, she tells The Business Times how she entered the volatile world of venture capital (VC) and the ups and downs she faced.

1. How did you begin your career and what brought you to VC?

I started my career in investment banking at Bankers Trust, now part of Deutsche Bank, and became a vice-president at Chase Manhattan Bank based out of Singapore.

When I finished my Insead MBA, it was the peak of the dotcom bubble. So, I went to Silicon Valley in the US to get a job. It was an exciting time to be in tech and startups, and VC seemed like a natural entry point for me given my financial background.

GGV was just an idea at that time, but I was intrigued by the fund concept – to bridge US and Asia, as well as the connection to Venrock, the Rockefeller venture arm. I wanted to learn from the best in Silicon Valley – Venrock was a premier VC firm – and leverage my ties to Asia.

2. You have over 20 years of investment experience. How has this translated into your work with AC Ventures?

I have seen various investment cycles, with companies going through ups and downs. During some of the most challenging times, I advised companies on their strategy, fundraising and HR issues, among others. I also have experience in IPOs (initial public offerings) and M&As (mergers and acquisitions), which should be helpful as we see South-east Asian companies starting to access the public capital markets.

I believe the combination of my global, especially China, experience, and my other partners’ local connections can offer the best value add to entrepreneurs and generate the best returns for limited partners.

3. What’s the biggest setback you’ve experienced?

I invested in a company that was growing rapidly. But they got caught in a geopolitical dispute, and overnight our orders went to zero. It was disheartening. But the founders refused to give up and turned to other markets instead.

They say: “If the sun does not shine in the East, it will shine in the West”.

4. What is one thing you would tell your younger self?

Stay determined to push through your ideas. It can be tough as a young professional sometimes to get people to listen. There is often a lot of “noise”, such as feedback from others that will make you doubt your investment judgement.

But I find that the most successful investors are often not the smartest ones, but ones that are unstoppable. You have to be open to feedback but also believe in your instinct.

5. What’s the best advice you’ve received?

When I was considering if I should try for a career in VC, the common wisdom was that one should have some operational experience in a startup or big tech company first. The reasoning was that one would then be in a better position to guide founders.

The advice I got from my former boss was the opposite. He said: “Helen, have you noticed that everyone who gives you that advice worked at a startup or big tech company? People are just like a clone of themselves. If you want to go into VC, you should just go for it.”

It was the best advice I ever got. There is no better experience than being in VC itself.