Withers appoints Joel Shen as partner for tech practice

WITHERS has named its latest partner for its tech practice, appointing Joel Shen in Singapore to press ahead with the global law firm's push into the fintech and venture capital scene in South-east Asia.

Mr Shen, who specialises in advising the technology sector in South-east Asia, could help the firm further tap the growth of the venture capital and technology space.

James Shaw, who leads Withers tech, said that private capital plays an increasingly important role in the venture capital and technology space. He added: "(Mr Shen's) promotion is a testament to the fast-growing technology investments between Indonesia, Singapore and the broader South-east Asia region, as well as the growth of our practice in Asia."

South-east Asia's venture capital market has grown exponentially. In 2020 alone, the region's total investment was US$13 billion, with Singapore and Indonesia among the largest recipients of venture capital, noted Daniel Yong, Withers' Asia co-head of the business division in Singapore.

"Mr Shen is one of the leading lawyers advising these investment flows into Singapore and Indonesia. His appointment and the exciting expansion of our Withers tech Asia team allow us to better serve both our private and institutional clients in their South-east Asia investment needs."

Mr Shen helps different stakeholders in the ecosystem - such as technology companies, funds and private investors - in matters ranging from set-up to exit. His clients include major financial institutions, retailers, e-payment companies, and venture capital fund managers, said Withers. Mr Shen is a Singapore-qualified lawyer, a solicitor in the UK, and a foreign registered lawyer in Indonesia. He is listed in several legal directories for his fintech, venture capital and corporate expertise, including Chambers & Partners' inaugural fintech guide for Indonesia.

He said: "In the last five years, venture capital has funded over 2,000 startups and technology companies in South-east Asia. The Covid-19 pandemic has not stopped venture capital interest in the region, with over 200 deals achieved in 2020.

"I expect the investment interest and momentum in South-east Asia - particularly Singapore and Indonesia - to continue. I am proud to contribute to this regional growth story as part of Withers tech Asia."