July 24, 2022

UVC: Eddy Chan from Intudo Ventures on why Indonesia only, Intudo's concentrated portfolio approach and why building a VC firm is like building a startup

UVC: Eddy Chan from Intudo Ventures on why Indonesia only, Intudo's concentrated portfolio approach and why building a VC firm is like building a startup

Understanding VC is a deep dive on how venture capitalists work. In this episode, I speak to Eddy Chan, founding partner of ‘Indonesia-only’ Venture Captial firm Intudo Ventures. Eddy begins the podcast by explaining why Intudo focuses only on Indonesian startups. This is followed by a brief overview of the creative ways in which the team at Intudo operates in order to help their portfolio startups. He explains why Intudo focuses more on B2B and B2B2BC startups (over B2C) which then leads to a discussion about the ways in which Indonesian startups generate growth, along with a discussion about total addressable markets. Furthermore, he talks about the ways in which his team is ensuring the efficient management of their third fund which Intudo raised recently. Lastly, he talks about why building a VC firm is like building a startup.


In this episode, you will learn:

  1. Why is Intudo Ventures an ‘Indonesia-only’ venture capital firm?
  2. Intudo Ventures is an independent VC firm, ie no single LP owns more than 10% of the fund.  Why is this important?
  3. How is Intudo’s team consisting of just nine people set up and operate to ensure they support all their portfolio startups well?
  4. According to Eddy, why will his ‘concentrated portfolio’ approach give better returns as compared to the ‘index’ investing approach?
  5. What is a commercial-operational dependency moat?
  6. Why does Intudo primarily focus on B2B or B2B2C startups instead of B2C startups?
  7. What does Eddy mean when he says that Intudo looks for non-contentious companies?
  8. Why does Eddy believe that building a VC is like building a startup?

About

Eddy Chan is a founding partner of “Indonesia-only” independent early-stage venture capital firm Intudo Ventures, that acts as the Indonesia Beachhead Strategy for dozens of leading institutions, funds and family offices from the United States, Europe and Asia, and supports the “digital transformation” strategy of dozens of Indonesian conglomerates. Intudo portfolio companies include Xendit, Halodoc, TaniHub, Pintu, Kargo, PasarPolis, BeliMobilGue, Yummy Corp., and more.

Eddy works closely with the top Pulkam (Bahasa Indonesian term for: “go home to your hometown”) South East Asian Turtle Indonesian returnee (“Pulkam S.E.A. Turtle”) talent in the United States and local Indonesian talent via professional and student associations and has been featured as a speaker at the annual Harvard Asia Business Conference (2019-2021), MIT Asia Business Conference (2020-2021) and Southeast Asia MBA Weekend (2018-2021).

Prior to co-founding Intudo, Eddy worked on venture investments in startups since the late 1990s, including PayPal, Palantir, and Affirm, founded and operated venture-backed technology companies with operations in Silicon Valley and Asia, practised corporate/M&A law at Morrison & Foerster LLP and worked as an investment banker at Banc of America Securities LLC.

Eddy holds a J.D. from Georgetown University Law Center, where he was a Global Law Scholar, and a B.S. in Business Administration from the University of California, Berkeley’s Walter A. Haas School of Business. 

Eddy Chan Profile Photo

Eddy Chan

Founding Partner at Intudo Ventures

Eddy Chan is a founding partner of “Indonesia-only” Independent venture capital firm Intudo Ventures with over US$230 million in committed capital, that acts as the Indonesia beachhead strategy for dozens of leading institutions, funds and family offices from the United States, Europe, and Asia and supports the “digital transformation” strategy of dozens of Indonesian conglomerates.

Intudo portfolio companies include Xendit, Pintu, Halodoc, TaniHub, Kargo, PasarPolis, BeliMobilGue, Nalagenetics, Yummy Corp., and more.

Eddy works closely with top Indonesian “Pulkam S.E.A. Turtles” and local Indonesian talent via professional and student associations and has been featured as a speaker at the annual Harvard Asia Business Conference (2019-2022), MIT Asia Business Conference (2020-2022) and Southeast Asia MBA Weekend (2018-2022).

Prior to co-founding Intudo Ventures, Eddy worked on venture investments in startups since the late 1990s, including PayPal, Palantir, and Affirm, founded and operated venture-backed technology companies with operations in Silicon Valley and Asia, practiced corporate/M&A law and worked as an investment banker.

Eddy holds a J.D. from Georgetown University Law Center, where he was a Global Law Scholar, and a B.S. in Business Administration from the University of California, Berkeley’s Walter A. Haas School of Business.