Ice Breakers

Ice Breakers with Raynard Lao (Investor, January Capital)

April 22, 2025

Raynard Lao is an investor at January Capital, a fund that invests in high-growth technology companies powering the digitization of commerce in the Asia-Pacific region.

👋🏼  How would you explain your job to someone outside tech?

Find, back, and support wicked smart founders building new and exciting B2B companies in the Asia Pacific region with the ultimate intention to generate outsized returns for our fund's investors.

The job involves managing relationships, conducting research, and strategic thinking. 

While providing capital would arguably be the fundamental role of investors to founders, what separates a good and great investor goes beyond funding because anyone can write a cheque. 

🧐  What's something about you or your job that would surprise us?

I've spent a large portion of my career working in sell-side finance and as an operator in a start-up. 

I think working in venture is a combination of having both the business sense to determine what constitutes a great company, while also recognizing the difficulty in growing a scalable business.

🏆  What has been the biggest highlight of your career so far?

Being given the opportunity to lead the Finance and Corporate Development department at Locad was definitely a major milestone and turning point in my career.

I hadn't had the experience of getting my hands dirty as an operator, so there was a lot of trust placed in me at that point. 

My time there taught me many lessons that I will keep with me for the rest of my career.

🔍  What's a startup trend or space you're watching this year?

There's definitely a lot going on with AI given the pace of advancements in the space, but I'm particularly interested in vertical use cases for AI within commerce. 

The recent tariff environment is only accelerating the need for companies to diversify their supply chains, and there is plenty that AI can improve upon the further upstream you go. 

💼  What advice would you give someone starting out in your industry? 

Have empathy and stay curious.

It's easy to criticize business models as an outsider looking in, but there's a lot going on under the hood that may not be immediately apparent as an investor. Being a founder is hard.

And given the volume of pitches you hear, always try to keep the curiosity to investigate alive. Making good investments means being able to identify what remains unseen by others. 

🗣  What's one thing you can keep talking about for hours? 

The Bronze Age Collapse: if ancient history and conspiracy theories are involved, I'm in.

🎥  What's your favorite movie/TV show? 

I'm currently binge-watching The Pitt, reliving my childhood ambitions of becoming a doctor (sorry Mom, I was bad at chemistry!)

🍨  What's your go-to ice cream flavor?

Bubble gum ice cream. Specifically from Dippin Dots, of course!

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