Building lasting careers in tech with the magic of paying it forward

The lesson is to be open-minded towards opportunities that present themselves in unexpected ways, and to keep warm ties with former colleagues, employees, and bosses because these can always lead to new connections.

The power of personal track records

Personal bonds also play a role in venture investing, said Nicholas Anthony, the Head of Grab Ventures, Grab’ fund for investments in innovative, early stage startups.

“We started Grab Ventures a few years ago, when Grab had a line of sight to become profitable. At that point, we wanted to make sure that we invested back into the ecosystem. We wanted to support founders, and particularly Grabbers, if we could find the right opportunities,” he recalls.

Investing in former colleagues gives Nicholas reassurance, because they have a clear track record at Grab. “At that early stage you’re investing in the founder as much as you are in the idea. Either we know you, or someone within Grab knows you, and can tell us how you think, and your ability to execute. That’s a big part of the decision whether to write a check or not.” 

“Obviously, we don’t give money to random Grabbers. The idea has to have substance and as the founder, you need to be able to buy us into the vision and how you’re  going to execute on it. But we understand that, at an early stage, there’s going to be a lot of shortcomings in the product and projections. So you can only invest in the founder’s ability to iterate and improve.”

Philipp emphasises that the same is true for his approach to angel investing. Over the years, Philipp has chosen to invest in several founders he believes in out of his own pocket. 

“Basically, I always invest in people that either I personally trust, or that people that I trust think of very highly. For me that has worked well, and the other thing is you need to spread your bets. I think the golden rule as an angel investor is you need to make at least 30, 40 investments.”

Nicholas also said people who have built their own successful startups or worked their way through the ranks at large tech firms are best suited to put money back into the ecosystem.

“It’s one of the things that I would like to see more of in Southeast Asia: Founders who’ve had some success redeploying their capital. I  think founders are some of the best advisors because they’re good at seeing what works, what doesn’t.”

Beyond investments: Network effect through mentorship

Investment doesn’t have to be in the form of money, said Philipp. It could be offering a space to work, or mentorship and advice. “Investing time is valuable. I mentor a bunch of startups, the door is always open to anyone here that has been at Grab. I firmly believe in the value of ecosystems.”

Gita shared that she made use of that mentorship network when she first joined Flip.

“I actually reached out to a lot of Grabbers. How do I scale this organisation? What are the governance structures that you would put in? And everyone gladly picked up the call. Grabbers are very helpful in terms of giving advice, and I am willing to pay for it forward as well.”

Closing the session, Wui said that support is not a one-way street. “It’s not just ‘What can Grab do for us alumni?’ but also ‘What can we do for each other?’ Many of us are in very influential positions now – if everyone chips in just a little, the whole ecosystem gets stronger.”