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Cherubic Ventures’ Matt Cheng joins AAMA in Taipei as mentor
Now in its fifth year, the Asia America Multitechnology Association’s Cradle Program remains a force in East Asia’s venture capital sector. Aiming to guide startups in their initial phase, the association is preparing for the fifth round of its renowned program to take place in Taipei.
To further assist young entrepreneurs, this year’s Cradle Program has enlisted support from Taiwan’s only angel investor fund, Cherubic Ventures, whose head Matt Cheng will serve as mentor.
AAMA’s Cradle Program: building bridges and helping new entrepreneurs in East Asia
Founded in 1979, the Asia America Multitechnology Association (AAMA) has since grown to become one of the largest non-profit organization in Silicon Valley. The AAMA is dedicated to helping boost business ties between high-tech sectors in the US and East Asia.
Through the Cradle Program, the AAMA helps train and support startups and entrepreneurs in the tech industry. Four years ago, they expanded the program from Beijing to Taipei, and more recently to Hong Kong and Shenzhen as well.
Now in its fifth year, the AAMA is inviting Cherubic Ventures’ founding partner Matt Cheng to serve as mentor in Taipei. He will bring to the venue his thorough experience of how to choose the right project, how to focus investments, and how to manage operations.
Mentor extraordinaire: Cherubic Ventures’ Matt Cheng
With extensive experience in international investments, Cheng is widely considered to be one of the most influential investors under the age of 40. He has been involved with a large number of projects in the United States, China, and Taiwan. 10 companies that Cheng has invested in are directly linked to the AAMA Cradle Program, with eight in Taiwan and two in Beijing, and all have seen dazzling profit performances.
Cheng moved to China in 2004. At that time, he did not have any experience with the mainland industry and was relying solely on himself. Gradually, he created a team consisting of outstanding entrepreneurial talent, out of which emerged Cherubic Ventures.
Cheng spent the next year on the road promoting his vision of Cherubic. "To understand the rules of the game for any given market you have to personally go and study the local situation to recognize the challenges and methods that are required." Because of this experience, Cheng is now able to provide effective solutions when startups are facing problems.
Helping startups achieve their dreams
Cheng believes that angel funds, i.e. funds that invest early in startups and do not prioritize profit, should put their money into innovative projects that will help entrepreneurs achieve their dreams. For Cheng, "angel investors are more like partners rather than shareholders or bosses."
Unsurprisingly, almost all of Cherubic’s funding, which currently totals a cool $130m, is poured into seed stage investments.
Since its creation in 2012, Cherubic Ventures has been heavily involved in Taiwan’s startup scene. Out of their 44 ongoing projects, 14 are based on the island nation. Cheng is proud that Cherubic Ventures is the only investment firm in Taiwan that is dedicated to angel funding.
Cheng points out that he generally does not invest in startup companies after the seed phase, as he finds angel funding to be much more interesting due to his personal background. "I am not an investor. I am and always have been an entrepreneur," says Cheng.
Cheng's vision is to turn Cherubic Ventures into the most influential angel investment organization in the Chinese-speaking world, helping new companies to grow and expand globally.
To hear more about Matt Cheng’s experiences, visions, and ideas make sure to attend the AAMA Cradle Program’s fifth round. Held in Taipei from April to June, registration is now open at the AAMA’s website.
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