The rest of the 50 (in alphabetical order): Richard Hsu, head of Southeast Asia investments, Susquehanna International Group
After more than 15 years at Intel Capital, the corporate venture capital (CVC) subsidiary of semiconductor maker Intel, Richard Hsu left his managing director position there in late 2015 to join US-headquartered quantitative trading and technology firm Susquehanna International Group (SIG) to lead Southeast Asia investments.
Based in Hong Kong, Hsu oversees technology, media and telecommunications as well as consumer-related investments in the ASEAN (Association of Southeast Asian Nations) region on behalf of SIG.
A notable deal SGI led under Hsu was e-commerce marketplace Jualo’s multimillion-dollar series A round in September 2016, investing alongside VC firm Alpha JWC Ventures and investment firm LionRock Capital.
Jualo operates an online platform that allows users to buy and sell new and used goods across more than 300 categories, such as cars, motorcycles, property, fashion, apparel and electronics.
Hsu said at the time of the investment: “With the talented management team leading the company, we have full confidence that Jualo will be the premier e-classified marketplace to take advantage of the increasing digital sophistication of the Indonesia consumer market.”
SIG exited Jualo in August 2019 in an acquisition by Singapore-based automotive e-commerce platform Carro. It formed part of Carro’s Southeast Asia expansion strategy, though Jualo would continue to operate under its own brand.
Prior to joining SIG, Hsu had been a China-based managing director for Intel Capital, operating from the country’s capital Beijing from 2004, having previously been in its Silicon Valley branch from 2000. He told Tech in Asia in an interview in 2015 that it had been a perfect time to join the Chinese ecosystem, adding: “From 2004 to about 2007, it was really the reignition of venture investment in China.”
During Hsu’s time in China, Intel Capital’s now-defunct China Smart Device Innovation Fund conducted various series A and B deals, investing in companies including cloud communications company Gotye, mobile internet company LeWa, iris recognition technology developer Eyesmart Technology and location-based communications services provider Shenzhen Fibocom Industrial Development in October 2014 alone.
Hsu holds a bachelor’s degree in economics and accounting from Pomona College and an MBA in finance from the University of Chicago’s Booth School of Business.