Ten Years After Leaving Underwriting: From Mature Deals to Early-Stage Investing, with Innovation and Investment Moving Taiwan Forward

On February 25, 2013, I left underwriting—the financial sector in the broad sense—with a mission to help small and medium-sized businesses transform and grow. I left the glamorous financial world and joined TTVC. Ten years have passed in a flash. When I first entered investing, my underwriting mindset led me toward mature companies that had reached or nearly reached IPO scale. Many portfolio companies’ market capitalizations multiplied; there was even thirtyfold growth to unicorn scale. Some deals even gave TTVC an exclusive allocation. But these relatively mature companies had generally already achieved substantial results. Although our investment sometimes provided the final favorable wind when everything else was ready, it could also be seen as adding flowers to an already beautiful brocade—adding to existing success. In recent years, I have spent more time identifying early-stage investments. There is still much room to improve Taiwan’s overall environment, but I continue to believe that only innovation and investment can move Taiwan forward. I will keep playing my small part as a little cog in that effort. -----