MDI Ventures, the corporate venturing arm of telecommunications firm Telkom Indonesia, has hired Shannon Lee Chaluangco as a Singapore-based investment director, DealStreetAsia has reported.
Chaluangco came from C31 Ventures, the corporate venture capital subsidiary of shopping centre operator CapitaLand, where she was an investment manager from 2017 before ascending to team lead in early 2019.
Chaluangco managed the S$110m ($79m) fund on behalf of C31 Ventures, which participated in deals for portfolio companies such as retail data analytics software provider Omnistream, restaurant booking platform Chope and mobile commerce platform Mobikon.
Concerning her new role, Chaluangco told DealStreetAsia: “While it is great to see more female representation in this highly competitive and male-dominated space, the goal for me here is to simply let our fund’s performance do the talking.
“I have been impressed by the fact that it has returned 40% this year after a 28% gain in 2018. Having witnessed the firm’s exit spree in July 2019 from Red Dot Payment, Whispir and Wavecell is something that also reinforced my confidence that I am helping build a winning team here.”
The move follows the departure of MDI Ventures chief executive Nicko Widjaja, who recently joined BRI Ventures, Indonesia-based financial services firm Bank Negara Indonesia’s corporate venturing subsidiary, to oversee its first fund.
Photo of Shannon Lee Chaluangco courtesy of Medium.
