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This is a very interesting investment. While East Ventures is generally known to be sector agnostic and have a broad and diversified portfolio, investing in a seemingly non-tech and low-multiple sector is not a very VC-like behavior. Perhaps there is more to Har Har Chicken than just a food and retail play. The team is a strong one though, with the right elements of experience to bring this to scale. If we can have the likes of KFC or NeNe Chicken, why can't we have our own? But more importantly, this is another data point that VCs are trading high-risk growth for more stability and profitability. Given the need for VCs to play within the Power Law and generate returns within the fund cycle, Har Har Chicken needs to scale at least a 100x over the next few years to be worthy to sit in East Ventures' US$550m fund dedicated to Indonesia and South-east Asia. #venturebuilding #venturecapital ==================== Powering venture growth 💥 - Building 💯 SEA-founded ventures through Krux Asia, SEA's leading venture studio by SEA operators
Jeremy Ko
7mo
Thanks for sharing. Across regions PEs are also buying / investing in brick and mortar services and trading businesses too quietly. There's also something attractive about sticky and recurring revenue.
Agency Owner | Pure Play Performance Marketing | Angel Investor (Ecom only)
7moInteresting investment. Imo F&B is perhaps one of the toughest industries to break into especially in Singapore. With no major tech advantage, it may be hard to scale. That said it's exciting to see VCs go into non-tech startups again. Reminds me of the DTC era