WEBVTT - U.S. VC Tapping Into Opportunities in Asia

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<v Speaker 1>You're listening to Bloomberg Business Week with Carol Masser and

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<v Speaker 1>Bloomberg Quick Takes Tim Stinovic on Bloomberg Radio. Well, our

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<v Speaker 1>next guest is an entrepreneur turned investor. She's the founding

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<v Speaker 1>partner of Parliament Ventures and thanks. American VC needs to

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<v Speaker 1>be pouring into Asian markets to propel innovation, tech and finance.

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<v Speaker 1>It really needs to be more diverse and always. Diane,

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<v Speaker 1>you is with us to join us with more on

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<v Speaker 1>her thinking. She's on the phone in New York City. Diane,

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<v Speaker 1>nice to have you here with Creedy and myself. UM,

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<v Speaker 1>how are you and tell us a bit about your

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<v Speaker 1>company and what you're focusing on. Hi, everybody, Yes, thanks

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<v Speaker 1>for having me on today. Partiment ventures fund and in

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<v Speaker 1>my history my explains American VC working with the Asian markets.

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<v Speaker 1>I have over forty investments with two unicorns and as

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<v Speaker 1>a fund founder to Angel networks, investment clubs and venture firms,

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<v Speaker 1>the last and partner of the largest medical center of

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<v Speaker 1>their innovation arms. UM, I work with a lot of

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<v Speaker 1>Asian markets. I am the officials partner to the Cream

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<v Speaker 1>government like see over a thousand deal on your the

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<v Speaker 1>basis and a biased fifty plus probably investment deal. Uh,

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<v Speaker 1>and so that's what I do at Pulam Adventures. Um

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<v Speaker 1>Dan talked to us. First off, I am just reading

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<v Speaker 1>your bio here. First off, you are a fellow Texan,

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<v Speaker 1>so shout out from me as while I grew up

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<v Speaker 1>in Dallas. And I'm also seeing that you were uh

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<v Speaker 1>formerly the managing director of the Rice Angel Network, which

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<v Speaker 1>also I was an intern on Angel Network. So this

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<v Speaker 1>is I'm I'm learning so much about you were bonding

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<v Speaker 1>on the radio. This is great, but I really want

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<v Speaker 1>to ask you. Sorry, Yeah, that's incredible. It was incredible.

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<v Speaker 1>And on top of that, just the cherry on this

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<v Speaker 1>pretty great Sunday that I think is that we're both

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<v Speaker 1>Asian American, which I think is is pretty cool. Like

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<v Speaker 1>I said, bonding on the radio, folks, you're seeing it live. Um.

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<v Speaker 1>But one of the questions I really want to ask

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<v Speaker 1>you is what one of the hurdles are for I say,

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<v Speaker 1>Asian Americans getting into the space because of course this

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<v Speaker 1>is a growing space that's very very fast, especially all

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<v Speaker 1>across the country, or the challenges that you see. Absolutely,

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<v Speaker 1>you know, one of my passions is really putting more

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<v Speaker 1>Asian American executives, you know, woman executives at the top

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<v Speaker 1>level of finance and venture capital. UH. And so I

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<v Speaker 1>have actually a media platform called Identity and Veiled, which

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<v Speaker 1>is a passion project, and out of that we have

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<v Speaker 1>interviewed countless Asian American woman executives and hearing their stories

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<v Speaker 1>and putting it out there to inspire so many other women.

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<v Speaker 1>You know what I'm hearing One of the common denominators

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<v Speaker 1>is there was no mentor before me. I was a

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<v Speaker 1>one that broke that glass feeling, and so putting those

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<v Speaker 1>stories out we truly helped to inspire and empower more

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<v Speaker 1>Asian American woman to get into these executive positions. As

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<v Speaker 1>you know, there's a huge star, a huge absence of

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<v Speaker 1>that here. Well, what's interesting to you write? And Diane,

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<v Speaker 1>we talked about this that we know by having diversity

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<v Speaker 1>on boards UH and in senior management, it can impact

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<v Speaker 1>positively a company's top and bottom lines. By excluding people

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<v Speaker 1>in your management, if you will, or in the investment

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<v Speaker 1>decision making process, you know, or by ignoring markets UH

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<v Speaker 1>and being and not being as inclusive, you know, you

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<v Speaker 1>really are missing out on opportunities absolutely, And you know, actually,

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<v Speaker 1>did you know females we make a path of population

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<v Speaker 1>here are actually the highest performer that comes up no surprise,

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<v Speaker 1>financial performance on venture capitals, on entrepreneurship. So it's it's

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<v Speaker 1>a really great deal. I think there should be more

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<v Speaker 1>women at the top levels in the executive position. So

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<v Speaker 1>why isn't there? Is it? You know? I know people

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<v Speaker 1>say pipeline issue. We had a great guest yesterday's talked

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<v Speaker 1>it's it's not just about you know, necessarily just general pipeline.

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<v Speaker 1>There's there's things deeper than that. There's so many reasons. Um,

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<v Speaker 1>you know, we need more champions out there, not only opportunities,

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<v Speaker 1>but I think organizations like there are many organizations out

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<v Speaker 1>there that are helping what you call accelerators think pink

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<v Speaker 1>and how of sence opportunities to create these pathways for

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<v Speaker 1>a woman. And I really think we have to go

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<v Speaker 1>hand in hand and work with the executive existing there

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<v Speaker 1>and also create a more opportunity to um surrounding these

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<v Speaker 1>women with these stories. And that's what we do at

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<v Speaker 1>Identity and vales actually uh and so really getting the

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<v Speaker 1>stories out there, and it's also seeing the most excellent

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<v Speaker 1>out what you're doing. And we're seeing that even in

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<v Speaker 1>the eventual world. For example, you know, less than two

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<v Speaker 1>percent of women are VC back in these billion dollar universe, right,

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<v Speaker 1>less than one pervent goes to bipod people of color.

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<v Speaker 1>That a woman, it's a It's an incredible statum. We

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<v Speaker 1>hope to change. And that's why I'm here today. We'll

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<v Speaker 1>talk to us about this kind of two way street.

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<v Speaker 1>I think we have about thirty seconds here talk to

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<v Speaker 1>us about this two way street here in investing in

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<v Speaker 1>Asian markets, but also American VCS funds benefiting from foreign investments.

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<v Speaker 1>It kind of works both ways, right, So you know,

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<v Speaker 1>how can BC American USBC films benefit from foreign investment.

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<v Speaker 1>A key role of VC firms provide portfolio companies expertise

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<v Speaker 1>that works to prepare for that exit you know, I

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<v Speaker 1>PR acquisition and so a lot of these foreign investors

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<v Speaker 1>will provide access I'm sorry, UH, companies that will invest

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<v Speaker 1>in provide access and generate better opportunities for the company.

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<v Speaker 1>You know, Asian markets are leading tech economies or the

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<v Speaker 1>top I think top for China, Japan, India, Singapore. They

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<v Speaker 1>provide really problems and sustainable and state UH investment destinations

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<v Speaker 1>and some of the inventors that come out of that,

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<v Speaker 1>obviously will be tax location, cash grants, employment for foreign

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<v Speaker 1>investors to continue expanding, but more for the demand of

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<v Speaker 1>goods and manufacturing produced by these economies of scale will

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<v Speaker 1>also strengthen these industries. But lastly, American diseases have access

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<v Speaker 1>to other large economies in Asia, you know, Asian economies

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<v Speaker 1>of economies or or the Tiger economies rely on their

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<v Speaker 1>surrounding countries to both stronger investment economies. Diane. We recently

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<v Speaker 1>caught up by Alan patrick Off. He's been in the

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<v Speaker 1>venture capital space for fifty years. Love talking about him

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<v Speaker 1>in investment. It's early investor in Apple Computer when it

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<v Speaker 1>was still Apple Computer, not just Apple. UM. You mentioned

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<v Speaker 1>that you've made over forty investments, including two unicorns. UM

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<v Speaker 1>tell us where you're investing, where you find the opportunities,

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<v Speaker 1>and I know you're doing it in a diverse and

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<v Speaker 1>inclusive way. Yes, absolutely so. The last one I did

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<v Speaker 1>was a medical fund, UH, and currently we are investing

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<v Speaker 1>in actually very multiple industries that really consumer now tech

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<v Speaker 1>UM as COVID in the pandemic open a window of opportunity. UM.

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<v Speaker 1>That was really what we invested in closed at the

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<v Speaker 1>last one. So and in actually in Asia markets, for example,

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<v Speaker 1>the leading ones that we're boxing on right now is biotech,

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<v Speaker 1>biotech c It's interesting that you mentioned biotechs. I was

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<v Speaker 1>about to say, Hey, talk to us about the tech,

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<v Speaker 1>especially in Asia where a lot of that big tech

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<v Speaker 1>innovation is merging. Hey, it's actually been a big sticking

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<v Speaker 1>point in terms of the relationship between the US and

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<v Speaker 1>China in particular, talk us a little bit about how

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<v Speaker 1>you find those opportunities, those those diamonds and the ref

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<v Speaker 1>Absolutely well, you know, just for the sheer numbers, Asia

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<v Speaker 1>dominates the top ten countries in the world with the

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<v Speaker 1>highest tech expertise, right Korea, Japan, Singapore, in China, uh

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<v Speaker 1>And so you know, really it's how do you get

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<v Speaker 1>into these markets? Is I'm actually an official US partner

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<v Speaker 1>to the Korean government agents, so we will focus on

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<v Speaker 1>meeting over thousands of deals and face space. I've probably

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<v Speaker 1>done over fifty maybe deals in terms of advising them

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<v Speaker 1>on how to give investments in the US markets. And

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<v Speaker 1>so if you're a VC trying to get into the

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<v Speaker 1>US market, it would be great if you get boots

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<v Speaker 1>on the ground, right, it's having a life on the

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<v Speaker 1>very best deals in that Asian market and the vcs

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<v Speaker 1>in Asia, you know, they always have firsthand access, so

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<v Speaker 1>get those partnerships and teams locally in that region. For example,

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<v Speaker 1>Sequoia Capital China is a great example of how they

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<v Speaker 1>funneled capital into the Asian market and they invected there

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<v Speaker 1>into the into the startupstrate. It's usually owning large states

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<v Speaker 1>and the type footbal Chinese. So this position is for example,

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<v Speaker 1>made for vatable foreign venture capital. Now I'm curious what

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<v Speaker 1>are the challenges that come with bringing that foreign investment

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<v Speaker 1>into the United States, because it can't be easy in

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<v Speaker 1>a country that's already seeing so much talent, so much

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<v Speaker 1>kind of deals being attracted from around the world. Where

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<v Speaker 1>the challenges that are involved in that process, you know,

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<v Speaker 1>there are a lot. For example, even in the medical

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<v Speaker 1>let's just keep it easy and right the terminal terminology

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<v Speaker 1>of what stage are you when it's different, right, valuations

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<v Speaker 1>can be different, um, and then there's a lot of

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<v Speaker 1>regulatory issues that we have to deal with as well.

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<v Speaker 1>So it's always great to be have we've found a

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<v Speaker 1>ground build a team there as we have and are

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<v Speaker 1>continue doing so. So it's interesting, So, well, what what

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<v Speaker 1>might be surprising. You mentioned that you're a U S

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<v Speaker 1>partner to the Korean government agency that's focusing on venture

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<v Speaker 1>capital acquisitions and and doing consulting on those early stage companies.

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<v Speaker 1>What are some of the trends that you are seeing

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<v Speaker 1>Because I love him first of all, I love emerging world,

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<v Speaker 1>like I think about Africa and some of the things

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<v Speaker 1>that they've done using their phone to be able to

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<v Speaker 1>actually have a financial identity. So what are some of

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<v Speaker 1>the interesting trends that whether it's innovation disruption that are

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<v Speaker 1>going on in Korea that might surprise some of our audience.

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<v Speaker 1>You know, uh, during this pandemic has truly open our

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<v Speaker 1>eyes to see what you know, with the tech world

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<v Speaker 1>is being thrown into this pandemic and what can come

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<v Speaker 1>out of it and so um you know, create for example,

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<v Speaker 1>has has really been a resilient country and has admits

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<v Speaker 1>of all these theatering economies. As we close out to

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<v Speaker 1>your end, they continue to be strong. And again those industries,

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<v Speaker 1>for example are semiconductor manufactory and also really big is

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<v Speaker 1>a bootech. The President of Korea has position Korea as

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<v Speaker 1>the next and really an Asia global biotech hug for

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<v Speaker 1>a lot of foreign investments. To come in and so

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<v Speaker 1>we're seeing a lot of that in terms of investments

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<v Speaker 1>of Careta. That's that's fascinating that you're talking about biotech

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<v Speaker 1>bringing biotexs E into the United States when you also

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<v Speaker 1>have that same sentiment coming from Europe. A lot of

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<v Speaker 1>European biotech trying to bay break very aggressively into the

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<v Speaker 1>US markets. UH, talk to us a little bit about

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<v Speaker 1>how say you have to compete with other parts of Asia, India, China,

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<v Speaker 1>Russia even uh if Fressiac counts is Asia and in

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<v Speaker 1>terms of where these deals are actually coming from. Absolutely so.

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<v Speaker 1>When actually so in the other way, if you turn

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<v Speaker 1>another way around, when we're investing in these Asian startups,

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<v Speaker 1>we work with not only that country, but a motley

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<v Speaker 1>of countries that surround it. For example, the emerging markets

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<v Speaker 1>of Asia. Works in the Philippines, we will work with

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<v Speaker 1>Singapore and Vietnam and Malaysia, the Tiger Cup economies that

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<v Speaker 1>you would say because they need more foreign investment to

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<v Speaker 1>really pull up those um that venture ecosystem. So you know,

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<v Speaker 1>when you're investing in some of these companies, you're really

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<v Speaker 1>getting to work with a bigger picture of some Asian

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<v Speaker 1>economies pulling in with co investors. When you look at

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<v Speaker 1>what's going on in the startup space, and we just

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<v Speaker 1>did a story um Diana about the record number of

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<v Speaker 1>startups that we saw in in fact that the amount

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<v Speaker 1>of money, start ups raising, more venture capital funding than

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<v Speaker 1>ever last year, more cities around the world starting to

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<v Speaker 1>look like tech hubs, Silicon Valley, they're still in the lead.

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<v Speaker 1>We look at early stage funding as an indicator of

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<v Speaker 1>a healthy, growing startup scene. It gives us some ideas

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<v Speaker 1>to maybe of another market indicator. When you look at

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<v Speaker 1>what's going up in the in the startup world, what

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<v Speaker 1>does it tell you about the outlook? There's there's an

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<v Speaker 1>incredible opportunity and I think the pandemic has supported a

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<v Speaker 1>window of investment opportunities and forced to go into these

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<v Speaker 1>um uh stable environment where the Asian in Asian mare

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<v Speaker 1>gets where they're leading in tech. I think, you know

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<v Speaker 1>that's where the we should put more investment. For example,

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<v Speaker 1>Unitinations has awarded to create number one for their Investment

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<v Speaker 1>Promotion Award. They have both incredible investment destinations by being

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<v Speaker 1>so forward thinking in digital future thinking on the digital

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<v Speaker 1>side and the high tech global leaders and birthing war

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<v Speaker 1>people there. So truly we are investing in Asian markets.

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<v Speaker 1>We're just going to for more growth and development and

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<v Speaker 1>opportunity to investment. Well, nice to you know, check in

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<v Speaker 1>with you and really shed light on something we don't

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<v Speaker 1>talk a lot about it and certainly sounds like we should.

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<v Speaker 1>Diane you, she's founding partner at Parliament Ventures. On the

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<v Speaker 1>phone in New York City,