A leading company focused on virtual transformation.
For Jenny Lee, managing wife of the personal equity company GGV Capital (GGV), there is no “post-COVID-19”; just a novelty to consider.
“The new norm is where the population accepts the truth that this virus came to stay, and we have to adapt accordingly,” Lee said. This requires a redefinition of how others manipulate the concept of travel, communication and accommodation. sectors that have been most affected by the global pandemic.
“Technology will play a huge role in redefining these sectors as they go through transformation,” Lee said.
Based in Silicon Valley, where Lee has been a managing spouse for 20 years, GGV has more than two hundred companies in its portfolio to its credit, from Wish, a popular e-commerce platform, to Grab, a Singapore-based multinational. proud to invest in local founders and champions and to apply global learning to local markets.
Having a global presence with offices in Singapore, China and Silicon Valley meant the company had what it calls ”front row seats” as the pandemic developed. “As a [venture capital] company that has been around for more than 20 years, it has gone through so many cycles: the rise and recession of dots com, the Asian monetary crisis, the global monetary crisis, and, of course, the SARS coronavirus crisis. “Lee said.
In reaction to the COVID-19 crisis, he said the company had followed a diagnostic technique for its portfolio companies in China, the United States and Southeast Asia. “First, we assess your money flow. We tell them to take an inventory of money, or if you close a funding circular, to do so. Secondly, we analyze your business style, is it positive or negative?”She.
If sales are basically offline, it’s possibly to expand products that can also take advantage of greater online integration, such as video tutorials. If the source string was a problem, make sure that other resources are searched, Lee says.
The key to diagnosing the suitability of the company is also to take a closer look at the organization and distribution of expenses of the company, and difficult decisions, such as pay cuts or staff optimization, will have to be taken into account.
“As TMT investors (technology, media and telecommunications), we have invested in sectors related to social internet, business and smart technologies,” Lee explained. “Fortunately for us, many of our sectors are positive. In the short term, they may be adversely affected by the closure of factories and businesses. But in the long run, sectors like online education, online fitness and online fitness [will see] growth in shape. “
“5G will have a significant effect on accelerating infrastructure in emerging Southeast Asian economies,” Lee said. E-commerce and communication technologies will gain advantages from an “boost” as customer behavior adapts to the new standard, he said.
Over the past decade, the entire Southeast Asian region has attracted investor interest. Since 2012, ten “unicorns” have emerged that have created a combined market price of $34 billion, reaching the region in third place, just behind China and India. considered a leader in investment activity, the rest of the region is catching up.
“We are confident that the next billion Internet users will drive the next phase of global growth. And those users will be basically in Southeast Asia and India,” he said. Lee, herself from Singapore, played a key role in reopening her Singapore Workplace in 2019, while the company saw the city-state as a gateway to the rest of Southeast Asia and India.
“If you are a global logo to succeed in Asia, Singapore is a wonderful position to have a seat as processes are standardized. Second, the quality of human capital is far superior and is a highly informed workforce,” Lee said.
In the end, the total scenario would be the effect these investments can have. “It’s not about the magnitude of the performance. It’s about the effect they have. It’s also about the price they create for society. “she said.