Speaker 1: You're listening to Bloomberg Business Week with Carol Masser and
Speaker 1: Bloomberg Quick Takes Tim Stinovic on Bloomberg Radio. Well, our
Speaker 1: next guest is an entrepreneur turned investor. She's the founding
Speaker 1: partner of Parliament Ventures and thanks. American VC needs to
Speaker 1: be pouring into Asian markets to propel innovation, tech and finance.
Speaker 1: It really needs to be more diverse and always. Diane,
Speaker 1: you is with us to join us with more on
Speaker 1: her thinking. She's on the phone in New York City. Diane,
Speaker 1: nice to have you here with Creedy and myself. UM,
Speaker 1: how are you and tell us a bit about your
Speaker 1: company and what you're focusing on. Hi, everybody, Yes, thanks
Speaker 1: for having me on today. Partiment ventures fund and in
Speaker 1: my history my explains American VC working with the Asian markets.
Speaker 1: I have over forty investments with two unicorns and as
Speaker 1: a fund founder to Angel networks, investment clubs and venture firms,
Speaker 1: the last and partner of the largest medical center of
Speaker 1: their innovation arms. UM, I work with a lot of
Speaker 1: Asian markets. I am the officials partner to the Cream
Speaker 1: government like see over a thousand deal on your the
Speaker 1: basis and a biased fifty plus probably investment deal. Uh,
Speaker 1: and so that's what I do at Pulam Adventures. Um
Speaker 1: Dan talked to us. First off, I am just reading
Speaker 1: your bio here. First off, you are a fellow Texan,
Speaker 1: so shout out from me as while I grew up
Speaker 1: in Dallas. And I'm also seeing that you were uh
Speaker 1: formerly the managing director of the Rice Angel Network, which
Speaker 1: also I was an intern on Angel Network. So this
Speaker 1: is I'm I'm learning so much about you were bonding
Speaker 1: on the radio. This is great, but I really want
Speaker 1: to ask you. Sorry, Yeah, that's incredible. It was incredible.
Speaker 1: And on top of that, just the cherry on this
Speaker 1: pretty great Sunday that I think is that we're both
Speaker 1: Asian American, which I think is is pretty cool. Like
Speaker 1: I said, bonding on the radio, folks, you're seeing it live. Um.
Speaker 1: But one of the questions I really want to ask
Speaker 1: you is what one of the hurdles are for I say,
Speaker 1: Asian Americans getting into the space because of course this
Speaker 1: is a growing space that's very very fast, especially all
Speaker 1: across the country, or the challenges that you see. Absolutely,
Speaker 1: you know, one of my passions is really putting more
Speaker 1: Asian American executives, you know, woman executives at the top
Speaker 1: level of finance and venture capital. UH. And so I
Speaker 1: have actually a media platform called Identity and Veiled, which
Speaker 1: is a passion project, and out of that we have
Speaker 1: interviewed countless Asian American woman executives and hearing their stories
Speaker 1: and putting it out there to inspire so many other women.
Speaker 1: You know what I'm hearing One of the common denominators
Speaker 1: is there was no mentor before me. I was a
Speaker 1: one that broke that glass feeling, and so putting those
Speaker 1: stories out we truly helped to inspire and empower more
Speaker 1: Asian American woman to get into these executive positions. As
Speaker 1: you know, there's a huge star, a huge absence of
Speaker 1: that here. Well, what's interesting to you write? And Diane,
Speaker 1: we talked about this that we know by having diversity
Speaker 1: on boards UH and in senior management, it can impact
Speaker 1: positively a company's top and bottom lines. By excluding people
Speaker 1: in your management, if you will, or in the investment
Speaker 1: decision making process, you know, or by ignoring markets UH
Speaker 1: and being and not being as inclusive, you know, you
Speaker 1: really are missing out on opportunities absolutely, And you know, actually,
Speaker 1: did you know females we make a path of population
Speaker 1: here are actually the highest performer that comes up no surprise,
Speaker 1: financial performance on venture capitals, on entrepreneurship. So it's it's
Speaker 1: a really great deal. I think there should be more
Speaker 1: women at the top levels in the executive position. So
Speaker 1: why isn't there? Is it? You know? I know people
Speaker 1: say pipeline issue. We had a great guest yesterday's talked
Speaker 1: it's it's not just about you know, necessarily just general pipeline.
Speaker 1: There's there's things deeper than that. There's so many reasons. Um,
Speaker 1: you know, we need more champions out there, not only opportunities,
Speaker 1: but I think organizations like there are many organizations out
Speaker 1: there that are helping what you call accelerators think pink
Speaker 1: and how of sence opportunities to create these pathways for
Speaker 1: a woman. And I really think we have to go
Speaker 1: hand in hand and work with the executive existing there
Speaker 1: and also create a more opportunity to um surrounding these
Speaker 1: women with these stories. And that's what we do at
Speaker 1: Identity and vales actually uh and so really getting the
Speaker 1: stories out there, and it's also seeing the most excellent
Speaker 1: out what you're doing. And we're seeing that even in
Speaker 1: the eventual world. For example, you know, less than two
Speaker 1: percent of women are VC back in these billion dollar universe, right,
Speaker 1: less than one pervent goes to bipod people of color.
Speaker 1: That a woman, it's a It's an incredible statum. We
Speaker 1: hope to change. And that's why I'm here today. We'll
Speaker 1: talk to us about this kind of two way street.
Speaker 1: I think we have about thirty seconds here talk to
Speaker 1: us about this two way street here in investing in
Speaker 1: Asian markets, but also American VCS funds benefiting from foreign investments.
Speaker 1: It kind of works both ways, right, So you know,
Speaker 1: how can BC American USBC films benefit from foreign investment.
Speaker 1: A key role of VC firms provide portfolio companies expertise
Speaker 1: that works to prepare for that exit you know, I
Speaker 1: PR acquisition and so a lot of these foreign investors
Speaker 1: will provide access I'm sorry, UH, companies that will invest
Speaker 1: in provide access and generate better opportunities for the company.
Speaker 1: You know, Asian markets are leading tech economies or the
Speaker 1: top I think top for China, Japan, India, Singapore. They
Speaker 1: provide really problems and sustainable and state UH investment destinations
Speaker 1: and some of the inventors that come out of that,
Speaker 1: obviously will be tax location, cash grants, employment for foreign
Speaker 1: investors to continue expanding, but more for the demand of
Speaker 1: goods and manufacturing produced by these economies of scale will
Speaker 1: also strengthen these industries. But lastly, American diseases have access
Speaker 1: to other large economies in Asia, you know, Asian economies
Speaker 1: of economies or or the Tiger economies rely on their
Speaker 1: surrounding countries to both stronger investment economies. Diane. We recently
Speaker 1: caught up by Alan patrick Off. He's been in the
Speaker 1: venture capital space for fifty years. Love talking about him
Speaker 1: in investment. It's early investor in Apple Computer when it
Speaker 1: was still Apple Computer, not just Apple. UM. You mentioned
Speaker 1: that you've made over forty investments, including two unicorns. UM
Speaker 1: tell us where you're investing, where you find the opportunities,
Speaker 1: and I know you're doing it in a diverse and
Speaker 1: inclusive way. Yes, absolutely so. The last one I did
Speaker 1: was a medical fund, UH, and currently we are investing
Speaker 1: in actually very multiple industries that really consumer now tech
Speaker 1: UM as COVID in the pandemic open a window of opportunity. UM.
Speaker 1: That was really what we invested in closed at the
Speaker 1: last one. So and in actually in Asia markets, for example,
Speaker 1: the leading ones that we're boxing on right now is biotech,
Speaker 1: biotech c It's interesting that you mentioned biotechs. I was
Speaker 1: about to say, Hey, talk to us about the tech,
Speaker 1: especially in Asia where a lot of that big tech
Speaker 1: innovation is merging. Hey, it's actually been a big sticking
Speaker 1: point in terms of the relationship between the US and
Speaker 1: China in particular, talk us a little bit about how
Speaker 1: you find those opportunities, those those diamonds and the ref
Speaker 1: Absolutely well, you know, just for the sheer numbers, Asia
Speaker 1: dominates the top ten countries in the world with the
Speaker 1: highest tech expertise, right Korea, Japan, Singapore, in China, uh
Speaker 1: And so you know, really it's how do you get
Speaker 1: into these markets? Is I'm actually an official US partner
Speaker 1: to the Korean government agents, so we will focus on
Speaker 1: meeting over thousands of deals and face space. I've probably
Speaker 1: done over fifty maybe deals in terms of advising them
Speaker 1: on how to give investments in the US markets. And
Speaker 1: so if you're a VC trying to get into the
Speaker 1: US market, it would be great if you get boots
Speaker 1: on the ground, right, it's having a life on the
Speaker 1: very best deals in that Asian market and the vcs
Speaker 1: in Asia, you know, they always have firsthand access, so
Speaker 1: get those partnerships and teams locally in that region. For example,
Speaker 1: Sequoia Capital China is a great example of how they
Speaker 1: funneled capital into the Asian market and they invected there
Speaker 1: into the into the startupstrate. It's usually owning large states
Speaker 1: and the type footbal Chinese. So this position is for example,
Speaker 1: made for vatable foreign venture capital. Now I'm curious what
Speaker 1: are the challenges that come with bringing that foreign investment
Speaker 1: into the United States, because it can't be easy in
Speaker 1: a country that's already seeing so much talent, so much
Speaker 1: kind of deals being attracted from around the world. Where
Speaker 1: the challenges that are involved in that process, you know,
Speaker 1: there are a lot. For example, even in the medical
Speaker 1: let's just keep it easy and right the terminal terminology
Speaker 1: of what stage are you when it's different, right, valuations
Speaker 1: can be different, um, and then there's a lot of
Speaker 1: regulatory issues that we have to deal with as well.
Speaker 1: So it's always great to be have we've found a
Speaker 1: ground build a team there as we have and are
Speaker 1: continue doing so. So it's interesting, So, well, what what
Speaker 1: might be surprising. You mentioned that you're a U S
Speaker 1: partner to the Korean government agency that's focusing on venture
Speaker 1: capital acquisitions and and doing consulting on those early stage companies.
Speaker 1: What are some of the trends that you are seeing
Speaker 1: Because I love him first of all, I love emerging world,
Speaker 1: like I think about Africa and some of the things
Speaker 1: that they've done using their phone to be able to
Speaker 1: actually have a financial identity. So what are some of
Speaker 1: the interesting trends that whether it's innovation disruption that are
Speaker 1: going on in Korea that might surprise some of our audience.
Speaker 1: You know, uh, during this pandemic has truly open our
Speaker 1: eyes to see what you know, with the tech world
Speaker 1: is being thrown into this pandemic and what can come
Speaker 1: out of it and so um you know, create for example,
Speaker 1: has has really been a resilient country and has admits
Speaker 1: of all these theatering economies. As we close out to
Speaker 1: your end, they continue to be strong. And again those industries,
Speaker 1: for example are semiconductor manufactory and also really big is
Speaker 1: a bootech. The President of Korea has position Korea as
Speaker 1: the next and really an Asia global biotech hug for
Speaker 1: a lot of foreign investments. To come in and so
Speaker 1: we're seeing a lot of that in terms of investments
Speaker 1: of Careta. That's that's fascinating that you're talking about biotech
Speaker 1: bringing biotexs E into the United States when you also
Speaker 1: have that same sentiment coming from Europe. A lot of
Speaker 1: European biotech trying to bay break very aggressively into the
Speaker 1: US markets. UH, talk to us a little bit about
Speaker 1: how say you have to compete with other parts of Asia, India, China,
Speaker 1: Russia even uh if Fressiac counts is Asia and in
Speaker 1: terms of where these deals are actually coming from. Absolutely so.
Speaker 1: When actually so in the other way, if you turn
Speaker 1: another way around, when we're investing in these Asian startups,
Speaker 1: we work with not only that country, but a motley
Speaker 1: of countries that surround it. For example, the emerging markets
Speaker 1: of Asia. Works in the Philippines, we will work with
Speaker 1: Singapore and Vietnam and Malaysia, the Tiger Cup economies that
Speaker 1: you would say because they need more foreign investment to
Speaker 1: really pull up those um that venture ecosystem. So you know,
Speaker 1: when you're investing in some of these companies, you're really
Speaker 1: getting to work with a bigger picture of some Asian
Speaker 1: economies pulling in with co investors. When you look at
Speaker 1: what's going on in the startup space, and we just
Speaker 1: did a story um Diana about the record number of
Speaker 1: startups that we saw in in fact that the amount
Speaker 1: of money, start ups raising, more venture capital funding than
Speaker 1: ever last year, more cities around the world starting to
Speaker 1: look like tech hubs, Silicon Valley, they're still in the lead.
Speaker 1: We look at early stage funding as an indicator of
Speaker 1: a healthy, growing startup scene. It gives us some ideas
Speaker 1: to maybe of another market indicator. When you look at
Speaker 1: what's going up in the in the startup world, what
Speaker 1: does it tell you about the outlook? There's there's an
Speaker 1: incredible opportunity and I think the pandemic has supported a
Speaker 1: window of investment opportunities and forced to go into these
Speaker 1: um uh stable environment where the Asian in Asian mare
Speaker 1: gets where they're leading in tech. I think, you know
Speaker 1: that's where the we should put more investment. For example,
Speaker 1: Unitinations has awarded to create number one for their Investment
Speaker 1: Promotion Award. They have both incredible investment destinations by being
Speaker 1: so forward thinking in digital future thinking on the digital
Speaker 1: side and the high tech global leaders and birthing war
Speaker 1: people there. So truly we are investing in Asian markets.
Speaker 1: We're just going to for more growth and development and
Speaker 1: opportunity to investment. Well, nice to you know, check in
Speaker 1: with you and really shed light on something we don't
Speaker 1: talk a lot about it and certainly sounds like we should.
Speaker 1: Diane you, she's founding partner at Parliament Ventures. On the
Speaker 1: phone in New York City,