Audra Pakalnyte: Lithuania To Malaysia, Adapt & Localize (Groupon Malaysia, KFit & Fave) & First Move VC Partner - E478

2024-09-26

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Audra Pakalnyte, Partner at First Move, and Jeremy Au discussed: 1. Lithuania To Malaysia: Growing up as the youngest of three daughters, Audra's childhood was shaped by Lithuania's national post-Soviet transformation. Her parents' dinner table conversations about multiple entrepreneurial ventures taught her first lessons in business dynamics and the necessity for adaptability. These early experiences instilled a deep understanding of market dynamics and the entrepreneurial resilience required to navigate...

Audra Pakalnyte, Partner at First Move, and Jeremy Au discussed:

1. Lithuania To Malaysia: Growing up as the youngest of three daughters, Audra's childhood was shaped by Lithuania's national post-Soviet transformation. Her parents' dinner table conversations about multiple entrepreneurial ventures taught her first lessons in business dynamics and the necessity for adaptability. These early experiences instilled a deep understanding of market dynamics and the entrepreneurial resilience required to navigate them. With serendipity and seeing the right opportunity, she moved to Malaysia and begun her startup journey with Khailee Ng and Joel Neoh at the first generation of local startups.

2. Adapt & Localize (Groupon Malaysia, KFit & Fave): Audra helped adapt and localize daily deals, exercise class subscriptions (KFit) and consumer payments to Southeast Asia. Says was acquired by Groupon and KFit pivoted to Fave which eventually bought back Groupon Malaysia. As an early employee and executive, she led teams to meet diverse market demands across the region's intended audiences. She shares her top learnings for founders looking to execute this strategy.

3. First Move VC Partner: In her transition to venture capitalism, Audra shared insights into establishing a VC fund that primarily targets early-stage consumer tech startups. With investments in over 16 early-stage companies, she underscored the critical role of understanding local consumer behaviors and market conditions. This knowledge guides her investment decisions and helps support her portfolio companies in scaling successfully across the diverse and fragmented Southeast Asian landscape.

Jeremy and Audra also discussed her digital detox sabbatical, emotional resilience required for entrepreneurship and thinking through the right technology stack.

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