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Emerging VC Talent: Edition 4, Alex Chung
- In the fourth edition of Emerging VC Talent, Alex Chung, Associate at Chai Ventures, shares insight on his professional background and career journey so far. Chung believes that both an athlete's mindset and grit and perseverance are vital to a founder's or investor's success. He is bullish on women in capital allocator roles and investing in women founders, stating that there is a massive wealth transfer taking place. Chung also anticipates that new companies will emerge and cater to an evolving consumer profile. The increased time spent on fundraising and securing capital can take time away from deploying capital, though junior professionals have the opportunity to add significant value by building relationships and sourcing LPs. Chung's mentor advised him to do research before speaking with someone and always send a thank-you note.
- Chai Ventures is a pre-seed and seed stage fund investing in women-led companies solving critical problems with businesses that deliver impact at scale across the high-growth sectors of better world, health and wellness, and human connection. Chung's career path has not been linear, but his curiosity to understand what excites people has always guided his choices. Chung's innate curiosity about consumer behavior has always guided his career choices. Chung believes that women are increasingly leading areas of spending and income, and in many countries, including the U.S, more women are graduating from college than men.
- Chung is training for the NYC marathon and states that sticking with something and putting in the reps will eventually lead to results. He notes that their fundraising journey at Chai Ventures involves talking to a set number of people each week and hitting specific milestones, focusing on doing a few things well rather than taking on too much at once and executing poorly. Chung anticipates that the emergence of a new class of companies will cater to an evolving consumer profile, and cherishes the opportunity to secure buy-in from his team and create value for those invested in.
- Market crashes have created difficulty in the private markets, especially for LPs whose capital is tied up in alternatives like PE and VC. Chung recommends building relationships with junior professionals at fund-of-funds, especially folks you may have alumni connections with, and setting up informational chats. He believes that meeting people in person is invaluable, leveraging LinkedIn, and a well-crafted cold message can go a long way.
- Chung is optimistic about women-led companies driving innovation in areas they understand best. Chung believes that the decision-making process for women is very different from the decision-making process of men. Women often seek more data points, recommendations from friends and online reviews, even for simple purchases like buying a pair of jeans.
- Chung champions Mimikai and Landing, the two companies he had strong conviction, and focused on figuring out how to genuinely be helpful and create value for these companies post-investment. Chung's mentor advises him to do research before speaking with someone and always send a thank-you note.
- More broadly, for junior people in venture, the increased time spent on fundraising and securing capital can take time away from the “fun” work — deploying capital. Chung thinks that junior professionals have the opportunity to add significant value by sourcing LPs and building relationships without overstepping, making themselves invaluable contributors to the fundraising process.
- When it comes to larger decisions, like investing or buying a home, Chung notes that preferences for women become even more pronounced. Chung is interested to see how macroeconomic trends will influence the market and what new companies will emerge. Chung believes that the same principle applies to growing a firm: focus on doing a few things well rather than taking on too much at once and executing poorly.
- Chung believes that junior folks in VC will be interesting to see how junior folks in VC respond to the increasing competitiveness for access to capital. Insights from professionals at fund-of-funds can create lasting relationships, build your network, and help navigate the fundraising process.
- Chai Ventures is committed to providing guidance for women in capital allocator roles and investing in women founders, Chung notes. In consumer behavior, Chung believes that women are increasingly leading areas of spending and income.
- Chung's mentor advises him to do research before speaking with someone and always send a thank-you note. Chung focused on creating value for companies by securing buy-in from his team and his investment's mission.
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