Around 80% of the funding in the last three quarters, across stages, were either down rounds or flat, Jenny Lee, managing partner at GGV Capital said at the Asia PE VC Summit 2022 organised by DealStreetAsia in September.
“So, if you’re an entrepreneur, you’re an investor, you’re a GP, this is the time to learn. Going through these cycles will make you stronger for many cycles to come,” Lee said during a fireside chat with DealStreetAsia’s founder and editor-in-chief Joji Thomas Philip at the summit.
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Lee, who has come a long way since her first job fresh out of Cornell University as an engineer building fighter jets for Singapore, reinforced her title as one of the world’s best venture capital investors during the pandemic as she managed to raise $2.5 billion over 250 Zoom calls in 2020.
Watch the full video of her fireside chat at the Asia PE VC Summit 2022 here: