Thought Leadership Archives

In December 2024, Aubrey Tan completed a full-time internship with us at Genesis Alternative Ventures. Her time was focused on gaining hands-on experience and learning about the venture debt industry.

We asked her to share her insights on her time with the firm, offering a useful perspective for students interested in a career in alternative finance.

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Genesis [G]: What initially drew you to Genesis Alternative Ventures?

Aubrey [A]: What drew me to Genesis was the focus on venture debt. I was interested in the VC industry, but there are very few firms that specialise in venture debt, so it was a unique opportunity to gain first-hand experience.

[G]: What was the interview process like?

[A]: The interview process was straightforward and consisted of two rounds. The first was with the Talent Manager to get to know each other and the firm. Then I was interviewed by the Managing Partner, Jeremy, where I shared an investment case study.

[G]: Did your experience align with your initial expectations?

[A]: When I joined, my main expectation was to be involved in deals and assist with the actual deal process, and that expectation was definitely met. I was staffed on two deals quite soon after I joined, which gave me a lot of exposure to different work streams. The experience of being able to really push myself aligned with what I was hoping for.

[G]: What was the learning curve like for you?

[A]: The learning curve was manageable, but it depends on your prior exposure to venture capital or investments. What really helped was that Jeremy organised regular sessions with the interns to explain what venture debt is, why we do certain things, and to demystify termsheets. We also had a structured onboarding process and a glossary of investment terms and concepts, which was helpful when you first join and might be unsure of what you do not know.

[G]: Can you describe a project or task you worked on that was particularly challenging or rewarding?

[A]: One of the most challenging things I worked on was a deal for a biotech startup focused on early cancer detection. It involved a lot of technical jargon, which required a learning curve to understand the technology and how it created value. It was also rewarding because beyond just analysing the financials, I felt we were doing something meaningful by providing them with capital.

[G]: What was the company culture like?

[A]: The team was very willing to give me opportunities and trusted me with responsibilities that were central to the success of deals. As an intern, I supported due diligence and prepared the first-cut list of questions for startups we were screening.

Before meetings with founders, the senior team members would take the time to review the questions with me and encourage me to verbalise my views, discussing next steps and providing valuable feedback for refinement. The team also brought me into meetings with founders, which was great because I could see my contributions in action.

Beyond work, there’s a strong team spirit. We often had lunch together and celebrated birthdays, so I felt truly integrated in the team.

Team lunches, birthday celebrations, and great conversation—just a few of the things that made Aubrey feel like part of the Genesis family. We’re glad to have shared these moments with her!

[G]: Having been through the program, what advice would you give to an undergraduate considering an internship at Genesis?

[A]: My advice would be to have clear goals for the internship. At a dynamic firm like this, it’s easy to get caught up in the deals. If you have clear goals, it helps you take the initiative to ask people to teach you what you want to learn. People here are very willing to teach you, but you have to take the first step and communicate what you want.

[G]: What was the most surprising thing you learned about the venture debt industry or about yourself during your time here?

[A]: The most surprising thing for me personally was how much I really enjoyed working on investments. Previously, my internships were more consulting or advisory-related, so I had not had prior direct exposure to deal execution. The team was very supportive and gave me the exposure to try more technical aspects, which helped me realise that this is something I am very interested in.

[G]: If you had to sum up your entire internship experience in just three words, what would they be?

[A]: The three words would be “Learning,” “Enriching,” and “Supportive”. I’m very thankful that, despite it being my first investment internship, the team didn’t treat me as just an intern, but was open to letting me try different things and giving me live transaction experience. The team is incredibly supportive, and there is always something to learn, which makes the experience enriching.

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Aubrey’s journey shows what it’s like to be an intern at Genesis Alternative Ventures. Our interns get hands-on experience working on live deals and are never left to flounder—the team is always there to guide. We’re grateful for all the dedication she put into the deals that she worked on. We wish her the best in her future and know she’ll do great things.

Evadne Ong’s journey is a great example of the growth we aim to foster at Genesis Alternative Ventures. After interning with us from December 2021 to August 2022, she returned in May 2025 to begin her career as a full-time Investment Analyst. Her story from intern to team member highlights how a positive and challenging internship experience can lay the groundwork for a career in investment.

We sat down with Evadne to discuss her time here, her seamless transition, and the skills that helped her turn an internship into a full-time position.

Genesis [G]: Beyond the job title, what was the biggest change in your day-to-day responsibilities and overall mindset when you transitioned from intern to full-time analyst?

Evadne [E]: The biggest shift for me was moving from “assisting” to “owning.” As an intern, I was focused on supporting tasks, building models, learning the ropes, and doing what was asked. In contrast, as an analyst now, I’m responsible for owning projects from start to finish, ensuring accuracy, and contributing my own opinions to influence investment decisions. This new responsibility has pushed me to think about the bigger picture, not just completing tasks, but also helping others, like our interns, connect the dots.

[G]: What specific skills or knowledge did you gain during your internship that you found most critical for hitting the ground running as a full-time analyst? Were there any areas you had to quickly upskill in?

[E]: My internship at Genesis gave me a strong foundation in venture debt and taught me how to analyze companies from both a growth and credit perspective. These insights were absolutely critical. After my Genesis internship, I completed two more internships in Private Equity, which helped me sharpen my technical financial modeling skills. By the time I returned to Genesis as a full-time analyst, I was able to combine both experiences: applying the technical rigor from private equity with the unique growth mindset and structuring perspective I first developed here.

[G]: Thinking back to your internship, what was the biggest obstacle you had to navigate, and how did that experience build the skills and confidence you rely on today?

[E]: The most significant challenge was learning to think like a venture debt investor while also building up my technical skills. Genesis was my first finance internship, and while my prior experience at Protégé Ventures gave me a great feel for venture capital, the focus was on equity, not debt. I had to quickly adapt my thinking to the world of debt. What really helped me was my subsequent private equity internships, where I sharpened my technical toolkit and gained confidence in my approach.

[G]: Genesis is known for its “fully immersive” internship program. Can you share a specific project or deal that gave you a hands-on, real-world learning experience that you didn’t expect to get?

[E]: One project that really stood out was being part of a live financing deal. I got to assist with building the financial model and preparing materials for the Investment Committee (IC) meeting. I didn’t expect to be involved in writing the IC memorandum as an intern, so it was a fantastic and pleasant surprise. I was really grateful for the opportunity to be part of a deal that was ultimately approved by the IC.

[G]: You work closely with deal managers and senior leadership. How has the mentorship and collaborative culture at Genesis shaped your professional growth?

[E]: The mentorship at Genesis is truly exceptional. As both an intern and a full-time analyst, I’ve found that the senior team is always willing to answer my questions and openly share their thought processes and insights. They even organize workshops and masterclasses to teach not just hard skills, but also soft skills like the art of negotiation. This open culture has made it easier to learn quickly and has allowed me to take ownership and develop my judgment from the very beginning.

[G]: The culture is described as open, inquisitive, and collaborative. What does that mean in practice, and what qualities do you think an intern needs to thrive in this environment

[E]: For us, being open, inquisitive, and collaborative means that juniors and interns are genuinely encouraged to ask questions, challenge assumptions, and dig into the “why” behind decisions. When I was an intern, my analysis and questions were taken seriously, which pushed me to think critically. To thrive in this environment, an intern needs to be resourceful, detail-oriented, and above all, inquisitive. The people who succeed here are the ones who go beyond the numbers to understand a deal.

[G]: What was the most surprising or unexpected part of your internship, and how did it influence your decision to join the team full-time?

[E]: The most surprising part of my internship was the relationships I built with the team. I came in expecting it to be a learning experience, but I left with genuine friendships and strong connections with mentors who were truly invested in my growth. The open and collaborative culture made it easy to connect, and those relationships gave me a strong sense of belonging. That experience played a huge role in my decision to return as a full-time analyst—I knew I wasn’t just joining a firm, but a team I genuinely enjoyed working with and learning from.

[G]: Now that you are a full-time analyst, what are you most excited to contribute to the firm, and how do you see yourself growing with Genesis Alternative Ventures in the coming years?

[E]: I’m excited to combine what I learned in private equity and venture debt to contribute to Genesis’s growth. My immediate focus is to deepen my expertise in structuring and execution, and eventually lead my own deals while mentoring newer analysts and interns. Looking ahead, I want to help strengthen Genesis’s position as the go-to venture debt partner for high-growth companies across Southeast Asia.

[G]: What is the single most important piece of advice you would give to an undergraduate who is keen on pursuing an internship or a full-time role in the venture capital industry

[E]: My advice is to seek out diverse experiences. These will expose you to different working cultures and a variety of skill sets, making you a more well-rounded candidate. It’s also just as important to have hobbies outside of work and academics—they keep you balanced and help broaden your perspective. Whatever path you take, approach it with curiosity and adaptability—those qualities will truly set you apart in venture capital.

Evadne’s journey shows that an internship is much more than a job; it’s an opportunity to build a foundation for the future. It also illustrates the kind of growth that’s possible when hands-on experience, genuine mentorship, and an empowering culture come together. We are incredibly proud of everything she has accomplished and are thrilled to officially welcome her back to the Genesis family as a full-time Investment Analyst.

An article written by Gabriel Li (Vice President, Legal at Kredivo Group Limited) and Dr Jeremy Loh (Genesis Alternative Ventures) explains liquidation preference. Published by the Singapore Law Watch.

If you’re in the process of seeking equity financing or have done so previously, you’ve likely encountered the concept of “liquidation preference.” While online searches yield numerous articles providing a general overview, they often lack region-specific insights, particularly for founders seeking funding for a Singapore private limited company. This article offers a comprehensive introduction to “liquidation preference” within the Southeast Asia context, along with practical negotiation advice.

A must-read article for all startup founders and venture capitalists. Click here to access the full article.

Private Debt has been grabbing headlines, with terms like Private Credit, Venture Debt, and Growth Debt often used interchangeably. However, it’s crucial to grasp the distinctions and understand the nuances. In this article, we unravel the intricacies of the overarching term “Private Debt” and focus on two key verticals – Venture Debt and Growth Debt – which are valuable financing tools for startups and scale-ups respectively.

Private Debt Landscape: Beyond Conventional Banking

Private Debt, a form of Alternative Assets, encompasses debt financing provided by private markets to companies outside traditional bank lending. Players in this arena include Debt Funds, Hedge Funds, Family Offices, Sovereign Wealth Funds, Non-Bank Financial Institutions, and Crowdfunding Platforms.

Venture Debt: Empowering Tech Innovators

Venture Debt is tailored for early-stage tech or tech-enabled companies (Series A and beyond). These companies, usually less than three years old, show high revenue growth, and have a unique/disruptive business model but are still burning cash. Venture debt has been a common financing tool in Silicon Valley but is still relatively new in Asia. Since Genesis first launched our venture debt fund five years ago, VC-backed companies in Southeast Asia have become more sophisticated about using venture debt as part of their overall capital financing strategy,

Venture Debt Structures: The Nuts and Bolts

Venture Debt typically takes the form of a term loan with a tenor of up to 36 months, repaid through monthly Principal and Interest amortization. Borrowers can access 20-30% of their recent financing round or cash on the balance sheet.

Reasons to opt for Venture Debt:

Filling working capital gaps for tangible outcomes, such as buying goods or raw materials.
Extending cash runways to reach crucial milestones, potentially enhancing future equity valuations.
Diversifying funding sources and reducing the weighted average cost of capital.
Minimizing dilution of early investors and founders across successive fundraises.

When to avoid Venture Debt:

Filling in for shortfalls or failures in equity fundraising.
The remaining cash runway is short and no other funding is available.
Funding Research and Development without a clear path to a commercial outcome.

Growth Debt: Fueling Expansion for Tech Titans

Growth Debt goes beyond Venture Debt by offering larger cheque sizes to mid to late-stage tech companies with revenues ranging from $10 million to over $100 million. Unlike Venture Debt, Growth Debt is not solely dependent on equity fundraising events and may serve as a substitute for equity. Examples of Growth Debt are Genesis’ loan to a leading global spatial data company before their IPO, as well as to Indonesian fintech firm, Akulaku. In essence, growth debt is a financing tool customized for later-stage startups who are hyper-scaling and preparing for an exit event.

Reasons to opt for Growth Debt:

Consolidating debt across entities or jurisdictions.
Refinancing costly or small quantum debt to benefit from improved terms e.g. lower interest rates or upsized debt.
Financing final rounds leading to profitability or pre-IPO stages.
Substituting for equity, reducing dilution for founders and early shareholders.
Funding projects with robust cash flows supporting debt repayment solely based on internal cash generation.
Acquiring an M&A target.

Credit Underwriting for Growth Debt: A Quick Overview

The credit underwriting process for Growth Debt is intricate, focusing on the company’s existing leverage, ability to achieve growth targets, reach profitability, and navigate market dynamics. Lenders assess the company’s attractiveness as a buyout or refinancing target, considering potential challenges to the original business case.

Comparing Venture Debt and Growth Debt: Key Distinctions

Venture Debt complements equity, emphasizing the fundamental quality of the borrower and its Financial Sponsors. Growth Debt at times may act as a substitute for equity, focusing on the company’s ability to execute growth plans independently and repay debt from internal cash generation.

The Genesis’ Approach: More Than Just Capital

Whether providing Venture Debt or Growth Debt solutions, Genesis takes a value-add approach, partnering with borrowers beyond cash. For insights on integrating debt into your fundraising plan or capital structure, we invite you to engage with us and explore the possibilities.

The table below outlines the differences and similarities between Venture and Growth debt.

For more information about Venture Debt and Growth Debt, please email us at contact@genesisventure.co.

An internship is a great way for undergraduates to gain real-world experience and develop new skills while still in university. However, getting an internship can be competitive, and the interview process can be daunting.

We asked our Communications and HR Manager, Michelle Low, to share some tips to help you ace your internship interview:

#1: Research, research, research

Before your interview, it is crucial to research the company you are applying to. This will help you understand their mission, values, and culture. Look at their website, social media accounts, and recent news articles to get a sense of what they do, who their customers are, and what their goals are.

You can also check employee reviews on websites like Glassdoor or better yet, reach out to their current and past interns for front-seat review. This will help you tailor your responses during the interview and show that you are genuinely interested in the company.

#2 Prepare for the predictable

Most internship interviews will include common questions such as “Tell me about yourself,” “What are your strengths and weaknesses?” and “Why do you want to intern with us?”

The best way to prepare responses to these questions is to understand yourself and what you can bring to the table. So list out your strengths (e.g. “advanced Excel skills” or “willingness to learn”) with examples of how you applied these strengths in other situations. It’s always best if your strengths match up to what’s stated in the job description.

In terms of areas of development, do not be shy about admitting them. In fact, the interviewer will appreciate your honesty and self-awareness. But always add what you are to mitigate your weaknesses. For example, “I am weak at proofreading my own work so I try to finish it ahead of time and ask someone to help me with proofreading.”

#3 Show enthusiasm and energy

During the interview, show your interviewer that you’re excited about the opportunity to intern with their company. Smile, make eye contact, and speak with energy and enthusiasm. This will demonstrate that you’re passionate about the work you’ll be doing and will help you stand out from other candidates.

#4 Ask thoughtful questions

At the end of your interview, you will likely be asked if you have any questions. Use this opportunity to ask thoughtful questions about the company, the internship program, or the interviewer’s experience. This will show that you have done your research and are genuinely interested in the company.

For instance, “I read on your website that venture debt is not the same as revenue-based financing but I am not clear as when startups should pick one over the other.”

#5 Dress for success

First impressions matter, even in online interviews. Dress appropriately for the company culture and industry. If you are unsure of the dress code, it’s better to be overdressed. Don’t forget to check your lighting, background, and internet stability.

#6 Follow up with a thank-you

Send a thank-you email within 24 hours of the interview, reiterating your interest in the internship and thanking the interviewer for their time. And don’t forget to attach any documents as PDFs – viruses are a big no-no.

With these tips, you’re sure to ace your internship interview and take the first step toward an exciting and fulfilling career. Good luck!

In a wide-ranging interview with Olivier Raussin, Co-Founder and Managing Partner of FEBE Ventures, we explore his career and experience working in the Southeast Asian tech ecosystem.

Olivier talks about his career in big tech, his own startups, and how he found his passion for venture capital. He shares insights into the challenges faced by startups and his thoughts on exciting trends in Southeast Asia, the future of venture capital, and offers advice for young professionals considering a career in VC

FEBE Ventures (“For Entrepreneurs, By Entrepreneurs”) is an early-stage Venture Capital fund supporting outstanding entrepreneurs in Southeast Asia.

Can you tell us how you ended up in Vietnam from France via Brazil?

I started my career in VC in Europe before having the opportunity to move to Brazil to lead the Latin American practice of my fund at the time, Project A Ventures. During the seven years I spent in Brazil, I had the privilege of working with many talented entrepreneurs and witnessing the incredible growth of the tech ecosystem there, including the emergence of several unicorns.

As I gained more experience investing in the region, I began to see many similarities between the tech landscapes in Latin America and Southeast Asia. Both regions have rapidly expanding economies (like Brazil, Mexico, Indonesia & Vietnam) that are ripe for digital transformation.

So, I decided to move to Singapore in order to immerse myself in the SEA startup scene and build relationships with entrepreneurs and investors in the region.

You pivoted a few times in your career. What prompted the move into VC?

I spent almost a decade of my career working in Big Tech, holding C-level positions at companies like Microsoft and Google in Europe. In between these stints, I had always felt an entrepreneurial itch and spent six years bootstrapping two startups.

However, it wasn’t until an old friend from university invited me to join his new $100M, operationally focused fund, that I realized that venture capital was a natural next step for my career. VC allowed me to combine my experience in Big Tech with my passion for entrepreneurship, and gave me the opportunity to work with talented entrepreneurs to help them build and grow innovative businesses.

You spoke about how startups don’t grow in a linear manner. Can you share with our readers about the wine business that nearly died many times but eventually did well.

When we were building an ecommerce business in Brazil, we faced many challenges that nearly brought us close to “be short cash” several times. These issues included a lack of capital, long working capital cycles. On top of that, we made mistakes in scaling too quickly and making the wrong hires. Through perseverance, we were able to turn it around. Today, the company is healthy.

This experience taught me important lessons about operating a business and gave me insights into the challenges that founders face. As a VC, I try to bring this empathy to my interactions with founders to help them overcome the hurdles that come their way.

How do you prioritize and manage your tasks and responsibilities on a daily basis?

In the morning, I spend time reading and working on mid-term strategic topics, as well as engaging in reflection and deep work.

My afternoons are reserved for calls and meetings. This is when I engage with founders to discuss potential investments and provide support to our portfolio companies.

Overall, I find it helpful to block out specific times of the day for certain types of work and prioritize my tasks based on their level of importance. This allows me to focus my energy on the most critical areas and maximize my productivity throughout the day.

What are some trends or developments in Southeast Asia that you find particularly exciting or interesting?

Among the trends that I find exciting in Southeast Asia, there are two in particular that I would like to highlight. The first is the emergence of Southeast Asia as a hub for SaaS startups that are building global solutions for the rest of the world.

Secondly, I’m impressed by the increased innovation and unique business models being developed in the region, as opposed to simply copying successful models from other markets. Startups in Southeast Asia are now leveraging their specific local and domain expertise to create businesses that are new and unique, which is great to see.

How do you see our industry evolving in the next 5-10 years, and how are you preparing for those changes

In the next 5-10 years, I see a few key trends emerging in the VC space. One is a consolidation of the various VCs & PEs in the ecosystem, which will likely result in the emergence of multi-stage platforms as well as ultra-niche plays (vertical, countries, technology) that cater to specific segments.

In addition, we will see the startup exit market maturing, with more opportunities for private equity exits.

How do you maintain a work-life balance and avoid burnout in a demanding and absorbing role?

I make sure to go for a run or go to the gym, practice yoga every day, and take my Golden Retriever, Samba, for a long walk once a day. I try to maintain a healthy diet by limiting sugar and carb intake. I also find it helpful to step away from work by disconnecting from Whatsapp and emails a few days a year to enjoy a full digital detox.

What advice do you have for young professionals who are considering a career in VC?

For those considering a career in VC, my advice is simple: join only if you truly love the work. This is not a job for those looking to climb the traditional career ladder of consulting or MBA programs. It requires a deep passion for technology, innovation, and entrepreneurship, as well as a willingness to work hard and commit for the long haul. VC is not a career with immediate rewards, and it can take years of hard work and persistence before seeing the fruits of your labor.

However, if you are willing to put in the time and effort, the rewards can be significant, both personally and professionally.

Finally, any advice for startup founders amid the current difficult macro-economic environment?

Growth-at-all-costs is over. Profitability is the new mantra. In today’s market, investors are looking for companies that can demonstrate a clear path to profitability and sustainable growth.

To achieve this, it’s important to be disciplined about controlling your burn rate and tracking your cash flow. This means being strategic about how you invest your resources, and being willing to make tough decisions when necessary.

In addition, investors like to see high margins, high repeatability, and high capital efficiency. These are key metrics that demonstrate a company’s ability to generate sustainable returns over the long term. On the other hand, we prefer to see low levels of capital expenditure and working capital.

The current environment is challenging for everyone, but with the right mindset and strategy, you can weather the storm and emerge stronger on the other side.

Who is SVB?

In 1983, Bill Biggerstaff and Robert Medearis, former Bank of America managers, founded Silicon Valley Bank to cater to the specific needs of startup companies. The banking industry at the time had little understanding of startups, particularly those without immediate revenue streams. SVB recognized this gap and developed loan structures that accounted for the unique challenges faced by these companies, managing risk based on their business models.

At the end of 2022, SVB was the 16th largest bank in the United States and the largest by deposits in Silicon Valley, solidifying its position as go-to bank for venture-backed tech startups. Legendary venture capitalist, Michael Moritz, longtime partner at Sequoia Capital calls SVB “the most important business partner” in Silicon Valley over the past 40 years.

What happened?

The collapse of SVB, a trusted banking partner and venture lender to many tech companies and known as the “bank for private equity”, was a sobering event. With over 40 years of experience, SVB had developed a comprehensive product suite tailored to the needs of the tech industry, offering mortgages to executives, credit lines to VC funds to keep capital flowing, and venture debt to startups that larger lenders deemed uncreditworthy. Its global offices enabled it to serve VCs and startups worldwide, not just in the US, where it was a banker for 50% of tech and life sciences startups.

However, the bank’s downfall resulted from a fundamental mistake: investing in longer-term mortgage securities with over 10 years to maturity, rather than shorter-term treasuries or mortgages. During a period of historic lows in interest rates, SVB invested depositors’ funds in long-term treasury bonds. And as the Federal Reserve raised interest rates to combat inflation, the value of those bonds plummeted, causing an asset/liability mismatch and leading to the bank’s collapse.

SVB with a loan book worth $74 billion as of December 31, 2022, had a diverse portfolio of loans. About 56% of its loan portfolio was dedicated to loans to venture capital and private equity firms, which were secured by their limited partner commitments and used to make investments in private companies. Mortgages to high-net-worth individuals accounted for 14% of its loans, while 24% were to technology and health care companies, including 9% to early and growth-stage startup companies. According to Bloomberg, SVB’s loan portfolio included many lower-risk and lower-yield loans. The bank’s non-performing loans in 2022 represented only 0.18% of its total loans, suggesting overall good credit performance.

So what happens now that SVB is no longer available to serve the startup community in the US?

SVB’s absence in the startup community in the US is likely to have significant consequences. While Silicon Valley Bridge Bank has stepped in as a temporary successor, encouraging its clients to diversify their deposits and operations between banks, it appears that the damage is already done and most of SVB’s clients have already withdrawn their funds and switched to larger banks.

VC and PE funds that relied on SVB’s subscription lines of credit to bridge capital calls will face challenges. These lines of credit allow General Partners of a fund to delay the funding commitment from their Limited Partners for up to a few months. These funds will now have to establish new banking relationships to channel their capital call funding, which could cause delays in funding new investments and have downstream impacts on startups that require funding.

The rise of venture lending in recent years has been fueled by startups’ need to diversify their funding sources and reduce reliance on equity raises. According to PitchBook data, the second quarter of 2022 saw the second-largest total venture debt value in the past decade.

In 2022, more than $30 billion in loans were provided to US-based VC-backed companies, which showed an appetite for debt despite rising interest rates. As one of the largest venture lenders, SVB’s exit will create a gap in the market for technology companies seeking to raise debt. It is unclear if other venture lenders will step forward to cover this gap, especially for companies with undrawn SVB lines.

The Venture Debt Outlook Going Forward

The consequence of SVB’s demise may include higher capital costs and tighter cash flows for startups, leading to more distressed companies. SVB, which has been the largest venture debt lender and has offered attractive rates to startups, may face challenges in the future as it is likely to be sold to another bank. This could potentially make it more difficult and expensive for startups to secure debt capital. While there are over 170 active venture debt funds in the US, according to PitchBook, these debt funds may need to step up to gain a bigger share of the venture loan market.

A version of this article appeared on Genesis’ LinkedIn page on 21 March 2023.

Christopher Yap: From Intern to Associate

What does it take to go from a curious intern to an Investment Associate in the dynamic world of venture capital? Meet Christoper Yap.

Chris started as an intern with Genesis in June 2022. He was hired as a full-time investment analyst upon graduation from the Singapore Management University as a Finance and Banking major. Since then, his passion and drive quickly propelled him through the ranks, leading to his promotion to Senior Analyst in July 2024 and, most recently, to Associate in July 2025.

We caught up with Chris to uncover the experiences that have shaped his exciting career journey so far.

Genesis [G]: Hi Chris, please tell us more about yourself.

Chris [C]: I’ve always had a keen interest in finance, investments, and entrepreneurship. My ultimate goal is to be an entrepreneur, starting a company and growing it while helping to improve the lives of others.

Outside of work, I am an avid basketball fan, watching the latest games or classic match-ups of the 1990s. I also enjoy football, golf, hanging out with friends, reading and watching movies, or trying out new experiences and challenges.

[G] At university, you majored in Finance and Banking. What prompted your choice?

[C]: I’ve always been interested in Finance from a young age. I first started investing in stocks in secondary school, and I really enjoyed figuring out the story behind the numbers. Things like: why did a company’s sales improve? How would the macroeconomic environment affect them? What’s their value proposition against competitors? I loved forming my own thesis based on the information I gathered.

The diverse and dynamic nature of Finance was very engaging and exciting to me, allowing me to tap into different skill sets and see the interlink between business, finance, and economics.

[G]: Please describe your typical workday, if there is such a thing!

[C]: There is no such thing as a typical workday! The amount of innovation out there is amazing, especially in the tech industry. It is dynamic and constantly evolving, and there is always something new to learn every day!

The fast-paced environment keeps me constantly engaged, while on slower days, I research emerging industries and technologies, or topics which I am particularly intrigued by, such as Artificial Intelligence (AI), Blockchain, Crypto, Metaverse, or Mixed Reality (XR).

[G]: What was your internship experience like at Genesis and what prompted you to accept the offer of a full-time analyst role?

[C]: I initially joined Genesis with no experience in the venture debt/capital industry. However, the team was very open and willing to guide and mentor me.

Being an intern at Genesis is great if you’re inquisitive and enjoy working in a dynamic and fast-paced environment. As long as you take initiative and ask questions, the seniors—including the Partners—are more than willing to teach you.

Interns have the opportunity to take on higher-level responsibilities, such as being involved in a deal from origination to execution, attending networking events, talking to startup founders, undertaking financial modelling and due diligence, and culminating with a presentation to the Investment Committee (IC) for approval.

Genesis places a strong emphasis on learning and development, where the team members take turns to their experiences, be it during weekly discussions or through masterclasses.

Besides working hard, the team knows how to have fun too! For one of our Bonding Day, we went for a short hike, raced each other in the Luge at Sentosa, and ended off with a durian buffet! When overseas travel opened up, the team went on a trip to Penang, taking in the sights and eating a lot of delicious food.

The dynamic and challenging nature of venture debt investing, coupled with the positive culture at Genesis and the opportunity to further develop myself prompted me to accept the conversion offer and continue my journey with Genesis as a full-time member of the Investment and Portfolio team.

[G]: What advice would you give to undergraduates who are seeking an internship in Genesis or any VC firm?

[C]: There is no defined path into the VC space, and that is what makes it so exciting in my opinion! You will have the opportunity to work with professionals from diverse backgrounds and learn from them. Start developing your soft skills and build meaningful relationships with professionals within the VC ecosystem. You’ll find that most are willing to give advice and share their personal experiences.

The VC space is fast-paced, dynamic, and constantly evolving. This means that an aspiring venture capitalist should be comfortable being uncomfortable, pushing themselves out of their comfort zones, and being able to adapt and work in an unstructured environment.

A strong technical foundation is a good starting point. This includes learning to build financial models, understanding business models, financial statements, valuation, and so on. But it’s just as important to back our technical skills with an inquisitive and open mind, and to dig deeper into the story behind the numbers.

[G]: Finally, congratulations on your promotion to Associate, Chris! How do you feel about this next step in your career at Genesis?

[C]: Thank you for the recognition. I am grateful for the mentorship and guidance from the Partners, and the support from the team who have helped me achieve this milestone. I look forward to continuing to grow and develop myself, striving towards the next milestone in my career.

The ambition of any startup was to become a unicorn. However, with the recent battering of the financial markets and the looming threat of a 2023 global recession, the pendulum of venture financing has swung from feast to famine.

Startups in Southeast Asia have not been spared from the “perfect storm”. Gone are the days when venture funding was readily available for “growth at all costs.” Instead, investors have been tightening their purse strings and prioritizing strong unit economics, sustainable growth, and conserving cash. Therefore it is not surprising that Founders are feeling anxious and looking for alternative sources of financing.

To explore the ecosystem’s perceptions of such an alternative financing instrument, venture debt, INSEAD GPEI collaborated with Genesis Alternative Ventures to survey founders, venture capital firms, and investors.

Read our whitepaper here: Click to download

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Christopher Yap: From Intern to Associate

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