If you want to start a financial company, instead of spending two years and millions of dollars in forming tons of partnerships, you can get all of that as a service and get going.
Andreessen Horowitz

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Embedded Finance refers to non-financial companies that have value propositions that are significantly enhanced or even transformed through the associated financial products and services embedded within.

Essentially, these are companies that are embracing the trend that non-fintech companies are venturing into being involved with financial services, and the first, second, and third-order implications of such a macro-trend.

We want to answer three main…

Between Two VCs - From a conversation between Akshay Bajaj [SIG] and myself, Chia Jeng Yang [Saison Capital].

We talked about the concept of Absolute Pricing Authority, the Costco model, and its relevance for emerging markets.

What is the purpose of a Brand?

Brands are mental associations meant to increase conversions behind a job to be done and a particular action.

Healthy living? Saladstop.

Need to run? Nike.

E-commerce payments? Stripe.

Brands are always associated with a job to be done, and typically focus on quality [i.e. we are the best quality for the job to be done].

Affordability sometimes comes into the picture in that you…

I was recently asked the question of the journey of younger founders vs more mature founders. I initially believed that because of the current state of the SEA ecosystem, we should expect to see more mature founders as well as see a concentration of mature founders especially within B2B business models.

I did some digging and came up with the following dataset for SEA Unicorn Founders that surprised me in both the relative youth, as well as in the industry split for founders.

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My initial mental model for this was built on the following 2 facts: Firstly, that the average…

One of the questions I ask in my interviews is simply: “Tell me the deepest thought you have (inside and outside work)”. The core reason for this is a strong belief in the Talent Potential Density Framework.

First, introducing Talent Density

Talent Density is an existing concept that centres around the idea that Tier A talent have a strong preference to only work with or for other Tier A talent, and you want to keep your % proportion of high performing Tier A talent high, ensuring your talent density remains constant or increases faster than the growth of your business. …

Embedded Finance was the hot topic of 2020, and it will only continue to be more fascinating in 2021 and moving forward.

This is a follow-up post from ‘An Introduction to Embedded Finance’ where we covered the trend of embedded finance and opportunities within the space. This article will go deeper into the prioritisation of embedded finance product features that non-fintech founders /product folks can use to think about when thinking about embedding fintech services/functionalities into their product roadmap/business strategy.

We are restricting our analysis to Tier #1 Embedded Finance companies as categorized in the previous article below.

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There is no reason Venture Capital industry dynamics and early-stage investment frameworks should be opaque, and we should aim for a world where capital is a commodity, information is free, and there is an even playing field between founders and VCs. See some of our writing on venture and business models here and our 2020 EOY Report.

We are focused on building a practical education in evaluating early-stage business models, giving smart, ambitious people, who are passionate about learning and working with early-stage companies, hands-on part-time experience at a VC fund, and a strong curated community of founders, operators and…

We are still trapped at home, but the pent-up demand behind domestic holidays/staycations, the establishment of travel bubbles and travel corridors reflect a long-term future where we return to the world of travel. COVID-19 vaccine optimism is also starting to flow in at a startling pace.

The travel industry has been crippled, but we see signs that it is beginning to start to roar back under safe and altered travel guidelines.

As VCs, we take long-term views and make long-term conviction bets, and are excited about the future of this trillion dollar market, looking into the different business models and…

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As we at Saison Capital looked back at our LP winners, and improve on LP strategies moving forward, we were particularly excited by the rise of first time GPs, and micro-VCs [defined as <150m].

Below is an early framework we initially developed for thinking about LP investments and introducing 3 categories of VCs within early-stage GPs that guide our LP investment framework.

Within early-stage GPs, we found 3 buckets of GPs that existed:

Category #1: Mass portfolios (“Spray & Pray”)— w/ 1–3% ownership — typically 100k-200k ticket sizes, with 20 to 80 companies per fund

Category #2: Large Coinvestor — w/ 5–7% ownership — typically 500k — 1m ticket sizes, with…

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We are happy to be able to announce that we have joined the SG United Program, where we can now offer an additional VC Associate Traineeship under terms sponsored by the Singapore Business Federation and Workforce Singapore.

If you are a Singaporean or PR with at least 1 year of work experience (pre-2019 graduate) looking to transit into an investment role, with an eye to a potential conversion to a full-time role, apply here.

This traineeship will be identical to any Associate position that we run at our fund, and is ideal for any young professional looking to break into…

Talent freshness is the issue of candidate relevance to the job market — i.e. not just that a candidate had been looking for a role, but how ‘fresh’ is their desire to find a new role.

This is about our experiences building the SEAcosystem.com talent database platform, and what we learnt about talent-freshness in the HR/recruitment process.

A side project, SEAcosystem.com, started during COVID in April 2020, is a talent database that laid-off talent could use to list themselves and their backgrounds, with an option for companies to also post jobs. …

Chia Jeng Yang

Principal @ Saison Capital | Consumer/fintech investing | Angel/Operator | work with smart people on projects: http://chiajy.com

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