Not your textbook journey: VC training empowers students from all walks to make an impact

What do an entrepreneur who started his first business at 13 years old, the creator of a popular meme page, a Web3 enthusiast, and an ex-chemical and green technology student have in common?

They’re all part of Protege Ventures (PV), Southeast Asia’s first – and Singapore’s only – student-run VC fund.

Based at Singapore Management University (SMU), PV acts as a nationwide training ground, bringing together curious and passionate students from various local universities and polytechnics to learn the ropes of the VC sector. Through PV, these students gain firsthand experience through deep immersion in VC activities and direct interactions with industry leaders.

Students networking at a recent event held by PV / Photo credit: Tech in Asia

The VC fund’s managing team, which is fully comprised of undergraduates and postgraduates, has successfully attracted a diverse array of applicants over the past year. According to Dorothy Yuan, the incoming managing partner, this is by design.

“We believe the next big idea can truly come from anywhere, and that diverse, unique, and even contrarian perspectives could lead to the best investment decisions.”

Brian Chua, head of partnerships

PV isn’t Chua’s first, second, or even third rodeo in the world of startups.

His entrepreneurial journey began when he created a clothing brand at 13, helping small creators print their artwork on clothes.

“I was quite young and still trying to figure out how everything works,” he recalls. “But I thought the best way to learn was trial and error – just start it first and see if it works.”

Brian Chua, head of partnerships at PV / Photo credit: PV

In 2019, he started another venture that packaged healthy snack kits for sporting event participants. The pandemic hit a year later and forced the business to shut down, however.

Undeterred, he runs Randamuanime, an online platform that connects creators in the anime, comic, and gaming industries with fans, handling both manufacturing and fulfillment.

Having amassed extensive experience as a founder, Chua’s curiosity naturally led him to the investing side of the ecosystem. He found what he was looking for at a hackathon co-organized by PV.

Through this hackathon, as well as a subsequent networking event by PV, he learnt more about the firm’s unique program, and saw that he could pick up venture capital-related knowledge and skills through the VC.

Since joining, Chua has learned about how key investment mechanics like cap tables, term sheets, and financial modeling work.

Thanks to his expertise as a founder, he landed the role of PV’s head of partnerships, and guided the fund to expand its presence in other markets.

“I’ve linked up with some Vietnamese student incubators and funds, and they’re happy to interview people from PV for job opportunities as they know the students have relevant experience,” Chua shares.

He adds that in general, “PV isn’t just about learning the ropes of venture capital, but also about actively shaping careers and fostering a new generation of VCs and entrepreneurs.”

Adam Ihsan, investment lead

Ihsan’s first foray into entrepreneurship was almost an accidental one.

In his first year of university, he and some friends developed smart contracts for Web3 companies as a side hustle. However, they noticed there was enough momentum to build a proper venture.

“We already had the clients – all we needed to do was direct them to use our platform,” Ihsan explains.

Adam Ihsan, investment lead at PV / Photo credit: PV

That’s how he got started with Subx, a no-code decentralized app builder. The startup raised US$1.2 million before being acquired by Businessplug, a blockchain consultancy firm, in March 2023.

Having experienced the fundraising process, Ihsan wanted to learn more about the other side of the table. Opportunity knocked when his university senior invited him to join one of PV’s Info Sessions, which are public networking sessions where they share more details about the VC fund. This proved to be Ihsan’s gateway.

Soon after joining PV, Ihsan realized that while he had a robust founder experience, he still needed to acquire critical skills like financial modelling to hone his VC mindset. This is where the organization’s approach to hands-on learning proved to be a boon.

During his first few months working on the VC fund, he attended PV-hosted workshops to get up to speed.

“Before joining, my impression of fundraising was simply about whether investors liked you,” Ihsan explains. “But I realized that it’s a lot more nuanced, and you need a strategy.”

In his experience, demystifying these complexities in venture capital by offering practical frameworks is something that PV does well in, he adds.

His experience with PV didn’t end with investments – he’s also developed a customer relationship management (CRM) system to support the VC fund’s deal flows. This made it easier to analyze past data for better deal evaluation.

“I’m planning to stay on for about another year to educate the newer members on using the CRM properly,” Ihsan says. “No matter what aspect of venture investing you’re interested in, there’s no better way to learn than by joining PV.”

Lim Zi En, managing partner

When asked why he got interested in startups, Lim doesn’t beat around the bush.

“At first, it was very simple: money,” he says, laughing. “I heard that startup founders could earn a lot when they exited.”

Lim Zi En, managing partner of PV / Photo credit: PV

This is why, even though he studied chemical and green technology at Nanyang Polytechnic, he pivoted to the business world after graduating.

In 2020, Lim enrolled in SMU’s business administration and management program while working part-time at several startups and financial institutions.

“I realized that [getting rich] wasn’t the only thing to it,” he says.

As Lim ventured deeper into the business world, he heard about PV through LinkedIn and applied to be part of it.

The current managing partner failed on his first try but decided to attend an Info Session before applying again. This helped him learn what PV was looking for and adjust his application accordingly.

An Info Session held at SMU earlier this year, featuring PV alumni as guest speakers. / Photo credit: Tech in Asia

Getting in was just the first hurdle. Even though Lim had some background in finance, navigating those concepts in the context of an actual VC fund was a different beast.

To bridge the knowledge gap, he took multiple online courses to learn about startup investments and practiced creating Excel spreadsheets. He also kept asking experienced friends and seniors to teach him how things worked.

“Everyone probably thought I was dumb, but I kept asking until I understood things better,” Lim shares. “Thankfully even though PV can be challenging, there’s a really supportive environment.”

Looking to get as much experience as possible, he worked his way up to managing partner and was instrumental in organizing PV’s first demo day in March. More than 100 startups, investors, and other stakeholders attended the event.

“Holding all these roles was really eye-opening for me and my growth – from both a personal and professional perspective,” Lim proudly says. “I’ve picked up so many invaluable real-world skills and connections that could benefit my career in the startup and VC ecosystem.”

Dorothy Yuan, incoming managing partner

Most people wouldn’t assume that there’s a lot of overlap between the visual arts and the startup space. Yuan, however, has been a part of both worlds as she was previously a student at the School of the Arts.

She’s the creative force behind the popular Instagram meme page Dhoby Ghaut Junior College, which has not only sold its own merchandise, but also brought in five-digit revenue.

After getting her first taste of the business world, she got curious about training the next generation of tech-savvy entrepreneurial leaders, which led her to discover PV. There, she saw that beyond teaching skills, PV also provided an environment that actively welcomed new members like her – even if they came from different backgrounds – to build a tightly-knit community.

Dorothy Yuan, incoming managing partner of PV / Photo credit: PV

“From my own journey, I’ve seen how valuable it is in the VC space to have more unconventional experience like my own,” she says.

After enrolling in PV, she picked up various essential skills and learnt more about the right mindset to navigate investments in an increasingly volatile, ambiguous, and complex global environment.

“I was also really impressed that we’re empowered to actively shape the future through actual capital investments,” she points out.

As the incoming managing partner, Yuan has already set some things in motion, such as potential partnerships with Stanford University’s entrepreneurship society and the organization Harvard Girls Into VC.

“I’m really excited about these upcoming initiatives, and I’m looking forward to making PV’s marketing and branding a lot stronger,” she says.

As Southeast Asia’s first student-run VC fund, Protege Ventures not only trains students to be tech-savvy entrepreneurial leaders but also welcomes new team members from all backgrounds.

By enrolling in PV’s program, students can gain the necessary skills and mindset to help them navigate an increasingly volatile and complex global environment through VC training. The program also aims to empower participants to actively shape the future they envision through actual capital investments.

Interested in a student analyst role? Applications are open until July 18.

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This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.