So, why do investors continue to invest in VC funds, knowing that only one or two per cent will make it? So we are trying to go against this one per cent statistic. “I think that’s the generally accepted figure. Part of this capital is to be used to invest in the fintech space.Īpart from the convergence of tech into different kinds of industries, the ecosystem approach was also implemented to minimise the risk of failure amongst tech startups.Ĭhung points out that in a typical VC model, only one to two per cent of its portfolio companies will actually achieve success. This year, eatcosys raised MYR10 million (US$2.3 million) through a crowdfunding campaign on Fundnel. So we want to able to capture different types of startups … that will be part of the ecosystem,” he elaborates.ĭespite the approach, Fidelity Funding would like to tap more into the fintech space. Because if you ask us how the future is going to be like in the next two to three years, I think people are going to be struggling to describe it. I know it is very generic and broad, but that is how we want it to be. “We invest in startups that are enablers and accelerators of digital transformation. This convergence enables Tham to see how these emerging startups could potentially complement the eatcosys group of companies. Now we see a lot of convergence with tech,” he explains. Because the retail sector is more than just having the mom-and-pop stores doing the usual business transactions. “We wanted to look into new ideas, to look into innovation … having an arm that could breed and mature ideas and innovation into tech startups. When he founded eatcosys and (eventually) Fidelity Funding, he saw how tech was able to connect different segments of an industry and create convergence. Starting off his career in the corporate finance, investment banking, and accounting sector, he had built businesses in various sectors from construction to F&B. ![]() Working hand in handĪs a serial entrepreneur, Tham is no stranger to failure –and the lessons that it provides to help entrepreneurs move up in life. This is why they come up with an approach that allows its portfolio companies to be part of an ecosystem of companies that work seamlessly with each other.Į27 speaks to Tham Lih Chung, Co-Founder and Chairman of eatcosys, and Managing Director of Fidelity Funding, and Bryan Chung, Executive Advisor of Fidelity Funding, to understand more about how they aim to support the startups in their growth journey. When it comes to investing in startups, Fidelity Funding is fully aware of the high failure rate among them and intends to minimise it to its best. Targetting early stage startups, the venture capital fund has made investments into companies such as food marketplace SmartBite and edutech platform Askbee. This is what eatcosys, a Malaysia-based multi-disciplinary company offering retail and fintech solutions to support businesses in their transformation journey, is trying to achieve through Fidelity Funding.įidelity Funding is a fund that aims to serve as the capital funding arm for clients or portfolio companies that leverage the services of eatcosys. It would also require different forms of support –from market access to ecosystem enablement– that is ideally built within an ecosystem. When it comes to achieving success, a single startup would need more than just funding. Tham Lih Chung, Co-Founder and Chairman of eatcosys
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