Analyse Asia with Bernard Leong
Business:Management
Fresh out of the studio, Adrian Li, founder and managing partner of AC Ventures joined us in a conversation to delve into the dynamics of the venture capital scene in Indonesia. He commenced by tracing his entrepreneurial journey, which spanned from the United States to China, and ultimately to Southeast Asia, culminating in his transition to venture capitalist. From there, he shed light on the investment thesis of AC Ventures, their decade of investing that led to their recent successful raise of US$210m to their 5th fund. He provided an in-depth analysis of the entire venture capital landscape in Indonesia, discussing its evolution over time. To conclude, Adrian shared his vision for AC Ventures, focusing on their intensified commitment to nurturing startups in Indonesia and across the broader Southeast Asian region.
Episode Highlights:
[0:44] Quote of the Day from Adrian Li #QOTD
[1:16] Introduction: Adrian Li, Founder & Managing Partner, AC Ventures.
[2:27] How did Adrian start his career?
[4:36] Adrian’s first entrepreneurial pursuit till his move to China & then Southeast Asia.
[8:13] The origin story of AC Ventures.
[10:10] The three key things he looks for when evaluating investment opportunities.
[13:52] AC Ventures, their perspective on the Indonesian market and their investment thesis.
[17:35] Typical day for a VC like Adrian Li
[19:23] The red flags that Adrian Li watched out for in founders & startup teams.
[21:14] The startup class of 2021 vs the class of 2023.
[24:40] The Indonesia Venture Capital Report 2023 by AC Ventures and Bain & Co.
[25:22] How investors are adjusting their strategies to the Indonesian market.
[27:24] Investor preferences, unit economics and valuations on the Indonesian market.
[29:11] The challenges that the Indonesian startups face and how they are adapting to them.
[32:00] The verticals that are working in the Indonesian market.
[34:43] Indonesia's regulatory environment is supportive of startups.
[37:01] The exit landscape for startups in Indonesia.
[41:48] The Indonesia startup landscape after the ZIRP era.
[45:12] The one thing that Adrian Li knows that very few do about VC in Indonesia.
[47:38] In-country VCs vs regional VCs in Southeast Asia.
[49:43] How should investors perceive Indonesia as a single market like China & India?
[51:29] Can foreign entrepreneurs thrive in the Indonesia startup ecosystem?
[53:22] What does great look like for AC Ventures?
[54:24] Closing
Podcast Information: Bernard Leong hosts and produces the show. Proper credits for the intro and end music: "Energetic Sports Drive" and the episode is mixed & edited in both video and audio format by G. Thomas Craig.
The SCMP China Fintech Report 2020 with Eugene Tang
The Google e-Conomy Southeast Asia 2020 Report with Stephanie Davis
Attention Factory: The Story of Tik Tok & China’s ByteDance with Matthew Brennan
Tech Giants, Secondary Exits & Kopi Kenangan in Indonesia with Nadine Freischlad
Beyond the Smartphone & COVID-19's Forced Experiments with Benedict Evans
Technology Regulation, App Store & Global Decoupling with Benedict Evans
China Internet Report 2020 with Gareth Nicholson
Gojek vs Grab in Southeast Asia 2020 Edition with Jon Russell
Pinduoduo on Social Ecommerce & Agriculture with Xinyi Lim
Samsung Rising Part Two with Geoffrey Cain
Samsung Rising Part One with Geoffrey Cain
Why Facebook invest in Reliance Jio Platforms with Tim Culpan
The Anonymous Report that brought down Luckin Coffee with Rui Ma
SparkLabs Connex with Charles Reed Anderson
BiliBili in China with Rui Ma
China AI Report 2020 by SCMP with Gareth Nicholson & Sarah Dai
The COVID-19 Coronavirus and its impact from China to Asia Pacific Part 2 with Carol Yin
The COVID-19 Coronavirus and its impact from China to Asia Pacific with Carol Yin
The State of China & SoftBank in 2019 with Shai Oster
Shift to the East with Simon Kemp
Create your
podcast in
minutes
It is Free
The Commercial Edge: Unleash the Power of People
The emPOWERed Half Hour
HCI Leadership Revolution
Human Capital Leadership
The Power of Music Thinking
BusinessWISE
Business Wars