Managing a $1 billion pre-IPO fund, with Sophie Yao, China General Manager of Pegasus Tech Ventures
09/03/20 • 40 min
Our guest today is Sophie Yao, the China General Manager of Pegasus Tech Ventures, which some people may know for their notable investments like SpaceX and Airbnb. Sophie currently manages a $1 billion fund that predominantly focuses on pre-IPO deals.
Show Notes:
1:48 Introduction to Sophie Yao
2:59 The CVC 4.0 Model
4:33 Rationale behind corporate partnering with single LP funds
6:58 The $1 billion pre-IPO fund, what it is and why Pegasus invests in pre-IPO deals
8:04 Risks associated with pre-IPO deals
9:46 Pre-requisites in a pre-IPO deal. How do you measure returns?
12:28 Role of the pre-IPO investor in supporting companies
13:40 Evaluating potential investments
16.14 Next wave of IPOs from China
20:58 Revenue vs Technology: What matters more in deep tech investment
23:12 Does investor behavior shape the type of companies in China?
24:36 China’s STAR market and how it has performed so far
26:15 Companies doing well in the STAR market
26:45 Alibaba Ant dual IPO: Inflection point in Chinese companies' perspective on IPOs
28:41 Foreign companies listing in STAR market
29:23 US-China deteriorating relations and impact on internationalization of Chinese tech startups
31:29 Luckin’s impact on the perception of listed Chinese companies
34:36 Lessons for Series A or B founders
36:54 Pegasus’ area of investment and how to contact Sophie
37:53 Pegasus’ Incubation program
Many thanks to our guest Sophie Yao; host Oscar Ramos; producers Eva Shi and Sagar Chaudhary; editor David; organizer Chinaccelerator; and sponsor People Squared. Be sure to check out our website www.chinaccelerator.com
Share, subscribe, review, enjoy!
Follow us on LinkedIn: www.linkedin.com/company/the-china-startup-pulse/
Email us: [email protected]
Our guest today is Sophie Yao, the China General Manager of Pegasus Tech Ventures, which some people may know for their notable investments like SpaceX and Airbnb. Sophie currently manages a $1 billion fund that predominantly focuses on pre-IPO deals.
Show Notes:
1:48 Introduction to Sophie Yao
2:59 The CVC 4.0 Model
4:33 Rationale behind corporate partnering with single LP funds
6:58 The $1 billion pre-IPO fund, what it is and why Pegasus invests in pre-IPO deals
8:04 Risks associated with pre-IPO deals
9:46 Pre-requisites in a pre-IPO deal. How do you measure returns?
12:28 Role of the pre-IPO investor in supporting companies
13:40 Evaluating potential investments
16.14 Next wave of IPOs from China
20:58 Revenue vs Technology: What matters more in deep tech investment
23:12 Does investor behavior shape the type of companies in China?
24:36 China’s STAR market and how it has performed so far
26:15 Companies doing well in the STAR market
26:45 Alibaba Ant dual IPO: Inflection point in Chinese companies' perspective on IPOs
28:41 Foreign companies listing in STAR market
29:23 US-China deteriorating relations and impact on internationalization of Chinese tech startups
31:29 Luckin’s impact on the perception of listed Chinese companies
34:36 Lessons for Series A or B founders
36:54 Pegasus’ area of investment and how to contact Sophie
37:53 Pegasus’ Incubation program
Many thanks to our guest Sophie Yao; host Oscar Ramos; producers Eva Shi and Sagar Chaudhary; editor David; organizer Chinaccelerator; and sponsor People Squared. Be sure to check out our website www.chinaccelerator.com
Share, subscribe, review, enjoy!
Follow us on LinkedIn: www.linkedin.com/company/the-china-startup-pulse/
Email us: [email protected]
Previous Episode
Digital Transformation: Converting Consumer Data into Gold; with Kevin Lee (IKEA), Alexis Richez (ZTP), German Torrado (Genetsis) and Abel Zhao (Travelflan)
In today’s episode we are joined by Kevin Lee, CDO at IKEA China; German Torrado, Managing Director at Genetsis E-commerce; Alexis RICHEZ, Venture Development and Partnerships at ZTP (The innovation arm behind one the largest retails groups in Europe including companies like Decathlon, Leroy Merlin our Auchan); and Abel Zhao, Co-founder and CEO at TravelFlan.
Our guests come with a particular angle on data and digitalization. With their wealth of experiences, you will gain insightful learnings on how to use data to innovate within your organization especially in a post-Covid19 world.
Show Notes
[02:11] Introduction to Kevin Lee and understanding what Ikea is doing with data and insights
[03:48] Introduction to German Torrado and Genetsis E-commerce
[04:48] Introduction to Alexis Richez and ZTP
[06:21] Introduction to Abel Zhao and TravelFlan
[09:17] Is data the new oil? How is IKEA getting value from data today?
[13:46] Awareness of data among brands and the relevance of data in their agenda
[16:56] What is the readiness level of companies? Are they really aware of how much value they can derive from data? Are they talking about data is the new oil but have no idea what it is exactly or are they ready to extract value from data?
[20:50] Reaction from brands about data that is hard to get
[22:53] Most relevant obstacles in the present time to drive digital transformation
[35:35] Impact of GDPR for businesses
[37:35] Getting key stakeholders to buy into the “Data is the Future” narrative and Performance metrics when implementing a data strategy
Many thanks to our guest Kevin Lee, German Torrado, Alexis Richez and Abel Zhao; host Oscar Ramos; producers Eva Shi and Sagar Chaudhary; editor David; organizer Chinaccelerator; and sponsor People Squared. Be sure to check out our website www.chinaccelerator.com
Share, subscribe, review, enjoy!
Follow us on LinkedIn.
Email us: [email protected]
Next Episode
Design’s Strategic Value for Business with Yiying Lu, “Fast Company's Most Creative People in Business”
During this week’s episode, we will discuss the value of design in early technology startups with Yiying Lu, the award-winning artist behind the Twitter Fail Whale and Dumpling emoji, named as “Fast Company's Most Creative People in Business” and Microsoft's “Top 10 Emerging Leader in Innovation”.
Show notes:
02:08 Introducing Yiying Lu
03:00 How design helps with product experience
05:30 The role of emotional needs in design
10:50 Design as a strategic tool for tech companies
14:40 How early stage founders should pay attention to design
19:50 Own a cross-cultural mindset
27:33 Failed campaign examples when foreign companies enter China
31:50 Yiying’s cross-cultural campaign cases
Many thanks to our guest Yiying Lu; host Oscar Ramos; producers Eva Shi and Sagar Chaudhary; editor David; organizer Chinaccelerator; and sponsor People Squared. Be sure to check out our website www.chinaccelerator.com
Share, subscribe, review, enjoy!
Follow us on LinkedIn: www.linkedin.com/company/the-china-startup-pulse/
Email us: [email protected]
If you like this episode you’ll love
Episode Comments
Generate a badge
Get a badge for your website that links back to this episode
<a href="https://goodpods.com/podcasts/asia-startup-pulse-32598/managing-a-1-billion-pre-ipo-fund-with-sophie-yao-china-general-manage-9546256"> <img src="https://storage.googleapis.com/goodpods-images-bucket/badges/generic-badge-1.svg" alt="listen to managing a $1 billion pre-ipo fund, with sophie yao, china general manager of pegasus tech ventures on goodpods" style="width: 225px" /> </a>
Copy