It’s official. HungryGoWhere’s co-founder Dennis Goh will be saying goodbye to SingTel to join Wavemaker, an early stage venture capital fund focusing on Southeast Asia, as a partner.
Founded in 2006, HungryGoWhere was one of Singapore’s first prominent homegrown startups. It was acquired by SingTel for S$12 million (US$9.4 million) in June 2012 and since then Goh remained at SingTel to lead its new digital services and regional expansion initiatives. Goh explains to Tech in Asia on his latest move:
I decided to move because I strongly feel the tech start-up scene in Southeast Asia is on the verge of a huge take-off, and I need to seize this moment and be back at the front-line. This enables me to proactively mentor the next generation of entrepreneurs
While HungryGoWhere’s exit pales in comparison to Viki’s, it is perhaps important to note that Goh and his team started an internet company at a time when the startup ecosystem in Singapore and/or Southeast Asia was almost non-existent. If starting a company today is tough, it is not hard to imagine what it was like starting up back in 2006 (remember that the first iPhone was launched in 2007).
To have new entrepreneur-turned-VC guys around is always a plus point for entrepreneurs in the region. Folks who have experienced both sides of the table just understand entrepreneurs better. Period.
In the same release, Wavemaker also welcomed Philippine-based entrepreneur and angel investor Nix Nolledo as a venture partner. Nolledo founded Xurpas, a mobile service provider in 37 emerging markets. According to AngelList, Nolledo’s investment portfolio includes Kalibrr and Ardent Capital.
The trend of entrepreneurs turning into VCs is natural because people who went through shit and succeeded are likely to back promising entrepreneurs who have the guts to go through the same shit. Goh and Nolledo aren’t the only ones around. Other up-and-coming entrepreneurs-turned-VCs include Hian Goh (AFC), Lim Der Shing, and Khailee Ng.
See: Singapore’s startup scene is overrated. But…
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