"For any funds investing in Southeast Asia, it’s crucial to see the region as a collection of countries, each with very different backgrounds, strengths, and weaknesses. Indonesia, for example, is the largest in terms of population, but it’s a mistake to assume that success in one country, like Malaysia, will easily translate into another, like Vietnam. That’s just not the case. Each country is hyper-localized, and if you dig deeper, you’ll find even regional differences within those countries. What we’re seeing now is a big umbrella effect—this eFishery scandal isn’t just impacting one country, but an entire region of nearly 700 million people.” - Gita Sjahrir, Head of Investment at BNI Ventures" - Jeremy Au
"If you read any venture capital how-to book from Silicon Valley, they all say the same thing: the goal is to bet as early as possible. Why? Because you don’t care if 9 out of 10 startups fail, as long as the 1 out of 10 returns 100x and makes up for the rest. That’s the game, unfortunately. I’m not saying that’s how it should always be played, but traditionally, venture capital has been about finding that one unicorn—that one big winner—among a group of risky investments.” - Gita Sjahrir, Head of Investment at BNI Ventures" - Jeremy Au
"But you actually have to take action and build habits to create hope. For me, this entire situation is a reminder that as I continue my journey as an investor—and especially as a mentor to startup founders—my role is to guide them in developing discipline and building healthier emotional maturity. It’s about teaching them to handle both success and failure, and to view their business professionally, not as a reflection of their personal worth. After 15 years in this ecosystem, I’ve learned to constantly improve myself and avoid falling into that dark place of wondering, “What’s the point?” The point is that you’re here. That’s the point.” - Gita Sjahrir, Head of Investment at BNI Ventures" - Jeremy Au
In this episode, Jeremy Au speaks on the Indonesia eFishery unicorn scandal Q&A.
Keywords: Indonesia, eFishery Unicorn Scandal, Q&A, Sovereign Funds, Founder Fraud, Southeast Asia, VC, Q&A, Thought Leadership
