GPs should have a strategy from day one, and find an anchor investor that will be able to help them get through the fundraising process, said Sarah Chen, co-founder and managing partner of the Beyond The Billion fund, at DealStreetAsia’s Asia PE-VC Summit 2022.
Echoing her thoughts was Yar-Ping Soo, partner, primary investments, at Adams Street Partners, who said that LPs “always have a preference to back funds with trusted relationships and long track records”.
The two were speaking at a panel titled ‘The LP View: Backing emerging market and first-time managers in adverse times’, which was joined by Dave Richards, managing partner of Capria Ventures, and IFC’s regional lead (East Asia and the Pacific PE Funds) Huai Fong Chew.
Get a 360-degree view of SE Asia’s maximum market at the Indonesia PE-VC Summit, an in-person conference in Jakarta on January 12, 2023. Save your spot now to hear from 30+ speakers.
Richards asserted that a good first-time fund manager had a different value proposition compared to existing GPs, as they tend to see fresh opportunities emerging from the market other than the businesses that were invested three or four years ago.
Catch the full video of the session here: