Clarence has served in various capacities in the Singapore public service for the past two decades. He was most recently Deputy President (Administration) at NUS.
In this article, Clarence shared with us his past experiences of championing entrepreneurship, and what he looks forward to in angel investing.
Angel investing became a way to stay involved after I moved from Ngee Ann Polytechnic to NUS.
Hey Clarence, thanks for joining us today! Let’s start with your background, could you share with us an overview of the professional roles you did and the industries you were in?
Clarence: I have been in the public service in most of my career in various agencies including the EDB, SLA, MinLaw, MOF, Ngee Ann Polytechnic. Two of my roles were as CEOs of government departments/statutory boards. My last role was as Deputy President (Administration) at NUS where I oversaw IT, HR, campus infrastructure, legal, risk, procurement, health and wellbeing functions and units.
You’ve had a distinguished career in Singapore’s public sector – leading institutions like Ngee Ann Polytechnic and NUS. What inspired you to step into the world of angel investing after decades in public service?
Clarence: My first experience with the startup ecosystem was when I was in Silicon Valley as EDB’s SF Center Director during the dot com period. When I, later in life, became principal of Ngee Ann Polytechnic, I championed entrepreneurship among students.
During that time, we started overseas startup internships that eventually expanded to 10 cities, a joint polytechnic incubator, fintech mentorship and internships, and a refreshed polytechnic incubator. Angel investing became a way to stay involved after I moved from Ngee Ann Polytechnic to NUS.
During your time as Principal of Ngee Ann Polytechnic, you led the institute in expanding innovation and entrepreneurship programmes. How did that experience shape your view of what makes a startup – or a founder – worth backing?
Clarence: When we met with startups from different countries, we saw distinct (almost personalities) of founders from different places. US startups often start with ambitious scalable expansion plans sometimes global from day 1, startups in SEA grapples with multiple languages, jurisdictions, currencies, and often import operating models from more established markets while startups in China are typically China focused, with its own nuances and competitive forces. From my perspective, having clarity of the market opportunity, clarity of product-market fit and personal drive and ability to build healthy teams are defining traits.
What were your expectations of being an angel investor before you started investing? How has your approach evolved over time?
Clarence: I expect to look at returns from a 10-20 year time frame. Along the way, angel investing helps me keep in touch with what’s new and novel, and get to hang with energetic founders (not necessarily all young). I sometimes think I live vicariously through these investments. I have 3 investments made so far, joining a syndicate once every one or two years. Over time, my approach has not changed much, it can best be described as patient and founder friendly.
How would you describe your current investment philosophy? What do you look for in a potential investment opportunity?
Clarence: I look for product-market fit, market traction and founder maturity.
As someone who’s helped shape Singapore’s education and talent pipeline, do you find yourself naturally drawn to edtech, deep tech, or startups solving workforce/employability challenges?
Clarence: I think I appreciate the challenges in edtech, deep tech and employability startups. However, I find myself drawn to founders and their energy, humidity, resilience much more than the industry.
How was your experience like taking part in the AngelCentral Review Committee (ARC)?
Clarence: The experience has been excellent. AngelCentral makes angel investing systematic and staff support in keeping everything organised. AngelCentral also provides technical workshops, industry panels, overseas trips, and even social lunches between angels. The ARC is well organised with a monthly rhythm, guided methodology for assessment, and discussions to tap collective wisdom.
In what ways has being part of the ARC helped you in enhancing your evaluation processes for investments?
Clarence: Instead of just hearing the 40 pitches once a year, the ARC receives and looks over 200 startups a year which would give you an accelerated way to build experience. The evaluation process is also guided by a methodology covering market opportunity, operating model, founder/founding team, execution and investment terms.,
What do you enjoy most about this journey/angel investing?
Clarence: Keeping in touch with founders and being part of their journey, and increasingly being part of a healthy angel community.
To end the session, what would be one suggestion you would give to new/aspiring angel investors?
Clarence: Take time to attend the workshops (build technical knowledge and shared experience) and hang out with fellow angels who eventually becomes friends.
Thank you for your time, Clarence. Where can people reach out to you?
Clarence: You can contact me on LinkedIn for a cup of tea. I like hanging out new cafe and restaurant concepts, and a foodie.
