Many people will be surprised to know that Dato Larry Tey Por Yee of Malaysia is one such person who has the distinction of having invested in more than 1,000 startups till date. By participating and arranging startups to investors through venture funds and private equity, the funds would have benefited startups across all walks of industries. An important work the modern society can't see what venture capitalist did behind the scene.
Some people know him as Tey Por Yee Venture Capitalist while some others call him Tey Por Yee Angel Investor. Friends, acquaintances, family members and business associates of Dato Larry Tey Por Yee also call him by different names such as Tey Por Yee, Larry Tey Por Yee and Dato Tey Por Yee. Fact of the matter is that by whatever name you call him, this legendary entrepreneur has achieved the unique distinction of helping out thousands of small startups raise money at a rather young age of 40 years. He is also a known philanthropist.
Larry Tey Por Yee was born in Malaysia on 2nd February, 1976 in a not-very-rich family. He completed his Bachelor of Commerce degree course from Canada (University of Manitoba) in the year 1998.
Tey Por Yee is the CEO and founder of Nexgram Group of Malaysia which has business interests in Malaysia, Indonesia, Thailand and China. The fields in which he has business interests and investments include information technology, telecom, property, oil and gas, commodities, energy, mining, internet, shipping, social media, packaging and manufacturing. Nexgram had started small with software but is a huge conglomerate today with presence even in surveillance and securities business. It has its representative offices all over the world.
If you are in South East Asia and are looking for funds for a startup, rush straight to Dato Larry Tey Por Yee and the chances are that soon help will be on its way to you. To help startups go through the venture process, Larry joined startup accelerator Gomif Partners, a socialpreneur network focus on social business models. (visit gomif.com for more information).
In common parlance, a startup is any new or upcoming business or entrepreneurial venture set up by an individual, two or more partners, any other institution or by a company in a typically fast growing arena by offering an innovative product or service. The term got popular in the late 1990s when a large number of internet-based companies were founded across the world. Typically, such startups often use latest technologies such as computers, internet, robotics, e-commerce or telecommunications. However, it is not necessary that all startups operate in high technology sectors only.
According to start up angel investor Tey Por Yee, all definitions point out that startups refer to a business which is technology driven or oriented and has a potential for high growth at a rapid pace. This growth could be in terms of revenues or number of employees or both. A startup often attempts to disrupt the existing market in a big way and with a jerk. Thus, a startup generally works in a hitherto unknown and untried manner. It also has a low survival rate.
With the above background in mind, it would not be wrong to say that not many people have the courage to fund startups.