Can a fresh grad join a VC? Here’s how Protégé Ventures paved the way for these students

Amira Azman had always been “baffled” by how startups could seemingly “pop out of nowhere” and quickly achieve global recognition and success.

While venture capital (VC) funding certainly plays a crucial role in scaling these startups to success, how exactly do investors identify startups that are truly “enticing and worthy”?

To gain a better understanding of the realm of entrepreneurship, Amira dabbled in early-stage investing during her polytechnic years. Despite her efforts, many of her burning questions remained unanswered, especially since she lacked a business background.

But when she chanced upon Protégé Ventures, she saw an opportunity to dive deeper into the VC world and gain the insights she had been seeking. 

By students, for students

Launched in 2017, Protégé Ventures is Asia’s first and Singapore’s only student-run VC fund. The programme is run by Singapore Management University (SMU)’s Institute of Innovation and Entrepreneurship (SMU IIE), and is open to all tertiary education students in Singapore. 

It’s an initiative “by students, for students,” catering to student founders in search of funding and community support and aspiring venture capitalists eager to learn the ropes of investment. 

From gaining hands-on deals experience to attending exclusive masterclasses by industry veterans, Protégé Ventures’ members get to play an active role in the startup ecosystem, securing invaluable mentorship along the way.

Since joining Protégé Ventures as an Associate, Amira, who is currently a student at SMU, has grasped a solid understanding of the ins and outs of the entrepreneurial space, from sourcing and evaluating deals to mastering investment strategies. 

“My favourite has always been the demo days, where young entrepreneurs pitch their startups,” she shared. “You get to discover new business models, tech, and innovation, and then realise that there are always better ways of doing things”

Her curiosity and exposure to emerging trends in the entrepreneurial landscape has led her to learn how to be more receptive and open to new innovations and opportunities, honing her critical thinking and decision-making skills. 

I often catch myself wondering why startups that initially appear ‘uninteresting’ eventually do well, only to realise that they have been doing the small yet crucial things better than others—that epiphany usually occurs after you often interact with the founders and their investors. There is always much to learn, no matter how much you think you know.

Building connections gets you one foot in the door 

Much like Amira, Adriel Yong’s experience with Protege Ventures has profoundly impacted his career, ultimately leading him to his current role at Ascend Network.

Although he briefly had experience as a venture scout during his four-year tenure at Yale-NUS, the 26-year-old shared that venturing into the VC industry as a young professional can be daunting. 

VCs are known to be highly selective when it comes to hiring new analysts. More often than not, entry-level roles rarely go to fresh graduates and are typically reserved for candidates with at least the beginnings of a professional network.

By providing students with an invaluable platform to cultivate connections, Protégé Ventures serves as a springboard into the industry for young professionals like Adriel, paving the way for career growth and success. 

One standout experience for Adriel in the programme was meeting Foo Tiang Lim, the co-founder and Partner of Forge Ventures, during a pitch competition as a fellow judge. 

“The way he asked questions and gave feedback to the startups presenting was extremely insightful and served as a catalyst for my personal growth in understanding early-stage companies and entrepreneurs,” he added.

Since connecting with Tiang Lim, the two have co-invested in various ventures together, including supply chain startup Baskit. Tiang Lim has also shared his extensive experiences in building and investing in companies over the past decade, further solidifying Adriel’s understanding of the VC industry. 

Apart from venture capitalists, speaking with founders during panel discussions has equipped him with insights into real-world situations and best practices in the startup space. 

“Hearing firsthand accounts of the realities of entrepreneurship helped me appreciate the complexities of the industry, and inspired deeper empathy and appreciation for the entrepreneurs we get to meet as VCs,” said Adriel. 

These experiences have not only broadened my knowledge, but also provided me with invaluable relationships and mentorship that have significantly influenced my career trajectory.

70% of Protégé Ventures’ members successfully land jobs in VC firms & startups

Ultimately, Protégé Ventures aims to groom the next generation of venture capitalists—a goal it has successfully achieved seven years on, with 70 per cent of its members landing jobs in VCs and startups after graduation. 

Equipped with the “foundational knowledge and practical tools for success in entrepreneurship” from Protégé Ventures, Adriel currently leads the investments team at Ascend Network, where he supports startups in the Southeast Asia region.

He hopes to continue thriving in the VC industry in the coming years. “Overall, I see myself deeply immersed in the dynamic world of venture capital, and I anticipate being actively involved in multiple deals within angel investing.” 

Meanwhile, Amira has successfully secured internships with several VC firms, which have allowed her to deepen her expertise and explore various emerging industries, including insurtech, B2B SaaS, and even alternative meat.

“Protégé Ventures has majorly contributed towards the development of my analytical and problem-solving skills, allowing me to secure several internships—one at Eurazeo, and one at Wavemaker Partners,” she said. Currently, the 24-year-old is an intern at Woori Venture Partners, where she is focusing on growth stage, sector agnostic investments. 

On the other hand, Jonathan Liem’s experience in Protégé Ventures has allowed him to better navigate the entrepreneurial landscape. 

Having dabbled in various entrepreneurial pursuits since his teenage years ranging from e-commerce to aviation, the 20-year-old joined the programme to explore and understand the VC industry through the lens of a founder. 

“Entrepreneurship is undoubtedly challenging, and while I may not have all the answers, I can confidently say that Protégé Ventures stands apart by hosting compelling events that offer valuable insights into the VC landscape,” said Jonathan. 

In particular, the Lee Kuan Yew Global Business Plan Competition (LKYGBPC) event – a biennial global university startup challenge – has provided him an opportunity to network and learn from a diverse range of players in the scene. “I found the LKYGBPC event particularly intriguing—it showcased a diverse portfolio of startups that I hadn’t encountered before.”

Currently, Jonathan is working towards growing his data extraction startup, Nex AI, which enables companies to swiftly extract key insights from email data. Armed with the investor-angled insights he has gleaned from the programme, he aspires to expand his business into a unicorn in the next seven years. 

Kickstart your career in entrepreneurship with Protégé Ventures

As Asia’s first and Singapore’s only student-run VC fund, Protégé Ventures aims to equip undergraduate and postgraduate students with the necessary skills to become entrepreneurial leaders. 

It has trained 320 students, evaluated over 1,400 deals, and invested close to S$300,000 in 11 student startups that have collectively raised over S$35 million from notable institutional investors to date.

For tertiary students looking to kick start their career in the innovation & entrepreneurship ecosystem, recruitment for Protégé Ventures’ new batch of student analysts is ongoing until 31 July 2024. Sign up for the programme here, and shape the future through Protégé Ventures. 

Featured Image Credit: Protégé Ventures/ Adriel Yong via LinkedIn