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Alec Tseung, Finance Expert in Hong Kong, Hong Kong
Alec Tseung

Finance Expert in Hong Kong, Hong Kong

Member since July 13, 2020
Alec executed over $5 billion in corporate, private equity, and venture capital transactions during his tenure at Swiss Re Principal Investments Company and Tencent, the leading internet company. He co-founded a financial advisory company in Hong Kong, advising companies in China, Southeast Asia, and Central Asia. Alec enjoys freelancing because it allows him to connect and collaborate with other passionate business founders to seize opportunities and challenges together.
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Career Highlights

Education

Select Certifications

  • CFA
    CFA Insitute

Case studies

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Expertise

Employment

  • Partner

    2020 - PRESENT
    KT Capital Group
    • Established an investment vehicle for a fintech company in Greater China. The investment fully exited with an IRR of around 25% in December 2021 by exercising the put option to sell the vehicle's stake back to the company's founder.
    • Involved in the investment's entire cycle, including generating liquidity in the middle of the investment horizon through a secondary partial sale to de-risk and negotiating with the founder on the put option price.
    • Engaged by a leading Southeast Asia-focused venture capital fund to provide investment reports that compared US-based tech companies with Southeast Asian ones, along with insights and analysis on the tech M&A landscape in Southeast Asia.
    • Advised the founder of a Philippines-based BPO company on its sale to private equity investors by helping the company prepare the pitch deck and financial projections and advising the founder on valuations and negotiations.
    • Provided independent investment and equity research on global fintech and digital asset companies, including crypto exchanges, decentralized finance protocols, blockchain companies, and more.
    • Engaged by a Singapore-based long-short hedge fund to provide an independent investment research report on a US-listed cryptocurrency exchange. The areas covered included the company's valuation, key investment thesis, risks, and near-term catalysts.
    • Provided advisory services to a Singapore-based RegTech company on its pre-A fundraising, including building the financial and revenue model, carrying out the valuation, advising its pitch deck, and communicating with potential investors.
    • Engaged by a Web 3.0 venture and incubation firm to advise a decentralized finance protocol on its seed fundraising, including leading the valuation analysis and tokenomics design, preparing the investor presentations, and more.
    • Advised a Hong Kong-based decentralized finance company on its pre-A fundraising, including building the financial model, delivering a valuation, informing its pitch deck, and communicating with potential investors.
    • Engaged by the fintech industry association to provide a white paper to advise how investors and institutions in traditional finance could capitalize on the opportunities presented by the development of decentralized finance.
    Focus areas: Emerging Markets, Business Development, Venture Capital, Private Equity, Fundraising, Equity Investment, Mergers & Acquisitions (M&A), Equity Research, M&A (Buy-side), Stock Analysis, Market Research & Analysis, Insurance Technology (Insurtech), Corporate Finance, Pitch Deck Consultant, Fintech, Pitch Decks, Capital Raising, Revenue & Expense Projections, Forecasting, Due Diligence, Leveraged Buyout (LBO), M&A Modeling, Leveraged Buyout Modeling, Decentralized Finance (DeFi), Investor Relations Consultant, Cryptocurrency Exchanges, Blockchain & Cryptocurrency, Blockchain, Non-fungible Tokens (NFT), Three-statement Modeling, RiskMetrics, Investor Presentations, Deal Structuring, Term Sheet Advisory, Term Sheet Negotiations, Deal Sourcing, Complex Transaction Agreements, Deal Review, Shareholders Agreement/JVAs, Investment Strategy, Tokenization, Strategy, Mobile Payments, Business Models, Business Planning, Competitive Analysis, Market Trends, Investment Banking, Board Presentations, Business Process Outsourcing (BPO), Digital Asset Management, Market Research, Singapore, Pricing, Market Research Analyst, Financing, Digital Banking, Financial Products, Banking & Finance, Startups, Financial Planning & Analysis (FP&A), Manufacturing, Trade, Early-stage Venture Capital, Investment Analysis, Investment Committee Advisory, Investment Briefs, Cryptocurrency, Structuring of Funds, Fund Structure, Equity Research Analysis, Net Debt Analysis

  • Web3 Valuation Expert

    2022 - 2022
    Epik (via Toptal)
    • Engaged by the CFO of a Web 3.0 gaming tech company to review its digital assets portfolio valuation.
    • Assessed the valuation methodologies used by the company and made recommendations by reviewing on-chain data.
    • Researched and introduced NFTfi protocols that could allow companies to access funding by using NFTs as collateral to the CFO and the company.
    Focus areas: Valuation, Blockchain, Web3.js, Non-fungible Tokens (NFT), Digital Asset Management, Online Gaming

  • Business Development Analyst for Crypto/Blockchain Company

    2022 - 2022
    Digital Wave Finance AG
    • Researched key trends and risk factors in the decentralized finance (DeFi) space amid a bear market.
    • Formulated a well-defined framework to categorize each risk factor users currently face when participating in the decentralized finance space.
    • Used the framework further to develop a brand-new protocol to provide risk management tools against risks that are key to user economics (e.g., impermanent losses).
    Focus areas: Business Development, Competitive Analysis, Blockchain & Cryptocurrency, Market Research, Market Trends, Fundraising, Startups, Cryptocurrency

  • Company Research | SaaS and Chinese

    2021 - 2021
    Nitro Software Limited
    • Researched the SaaS sector, especially the PDF market landscape, in China and the two major Chinese competitors Nitro Software has in China.
    • Covered the competitors' financial performance, products, sales channels, pricing, major customers, and future focus areas through research and analysis.
    • Delivered the findings (formatted in a PowerPoint deck) to Nitro's CEO, who was highly impressed by the work quality.
    Focus areas: Competitor Analysis & Profiling, Market Research, Company Research, Software as a Service (SaaS), China, Mandarin-English Translation, SaaS

  • Senior Investment Manager

    2018 - 2019
    Tencent
    • Oversaw Tencent's investments in the gaming and fintech sectors outside China, mainly in Southeast Asia and EMEA.
    • Advised the founders of the early-stage portfolio companies on fundraising by helping them articulate the storyline, prepare financial and revenue projections and pitch deck, and introduce potential investors to the companies.
    • Worked closely with the CFO of each of the investee companies to establish half-yearly budgets and to meet Tencent's internal KPIs while overseeing a $1 billion portfolio of overseas gaming companies in Southeast Asia and EMEA.
    • Led the M&A transaction for Tencent's $30 million acquisition of a game development studio in Sweden. Performed due diligence, reviewed the term sheet and other transaction documents, and led the post-integration process.
    • Built the financial model and projections, devised the financial structure, and led the negotiation of the transaction documents for setting up a China-based esports team to join Activision Blizzard's Overwatch League.
    • Provided strategic inputs and advice for the board members representing Tencent on the portfolio companies' latest developments, challenges, and strategic plans.
    Focus areas: Post-merger Integration, Financial Analysis, Venture Capital, Mergers & Acquisitions (M&A), Investing, M&A (Buy-side), Stock Analysis, Corporate Finance, Fintech, Equity Investment, Pitch Decks, Revenue & Expense Projections, Forecasting, Due Diligence, M&A Modeling, Decentralized Finance (DeFi), Blockchain & Cryptocurrency, Blockchain, Non-fungible Tokens (NFT), Three-statement Modeling, Investor Presentations, Deal Structuring, Term Sheet Advisory, Term Sheet Negotiations, Deal Sourcing, Complex Transaction Agreements, M&A Earn-out Agreements, Deal Review, Shareholders Agreement/JVAs, Investment Strategy, Strategy, Social Networks, Mobile Payments, Business Models, Business Planning, Business Development, Competitive Analysis, Market Trends, Board Presentations, eCommerce, Seed Fundraising, Market Research, Singapore, Pricing, Market Research Analyst, Digital Banking, Startups, Financial Planning & Analysis (FP&A), Early-stage Venture Capital, Investment Analysis, Investment Committee Advisory, Investment Briefs, Cryptocurrency, Structuring of Funds, Fund Structure, Equity Research Analysis, Net Debt Analysis

  • Investment Professional

    2012 - 2018
    Swiss Re
    • Screened, built the financial model and projections, performed due diligence, and executed a $500 million investment into a Chinese life insurance company. Exited the investment at the end of a four-year holding period, generating an IRR of 20%.
    • Developed a valuation model and financial projections, performed due diligence, and reviewed legal documents for an international financial services company's $2 billion joint acquisition of their Hong Kong and Thailand businesses.
    • Built a detailed financial and valuation model, created the investment committee presentation, and wrote the memorandum for a $120 million M&A, buy-side transaction of a listed UK insurer's Chinese subsidiary.
    • Developed a valuation model and financial projections. Performed due diligence on a $50 million cornerstone investment in a Chinese fintech company's IPO.
    • Developed a valuation model and financial projections and performed due diligence on a $2 million seed investment in an Indian fintech company.
    • Developed the financial model and analyses, including cash flow, sensitivity, and waterfall for the sale of a stake in an illiquid co-investment partnership structure to a New York-based private equity investor.
    • Led a $5 million convertible bond investment in a Taiwanese commercial bank and oversaw the transaction process and analyses, including a review of the loan agreements, IRR sensitivity analysis, and subsequent monitoring of the position.
    Focus areas: Financial Analysis, Mergers & Acquisitions (M&A), Growth Equity, M&A (Buy-side), Stock Analysis, Insurance Technology (Insurtech), Corporate Finance, Insurance, Fintech, Equity Investment, Pitch Decks, Revenue & Expense Projections, Forecasting, Due Diligence, Leveraged Buyout (LBO), M&A Modeling, Leveraged Buyout Modeling, Decentralized Finance (DeFi), Cryptocurrency Exchanges, Blockchain & Cryptocurrency, Blockchain, Three-statement Modeling, RiskMetrics, Investor Presentations, Deal Structuring, Term Sheet Advisory, Term Sheet Negotiations, Complex Transaction Agreements, M&A Earn-out Agreements, Deal Review, Shareholders Agreement/JVAs, Investment Strategy, Strategy, Mobile Payments, Business Models, Business Planning, Business Development, Competitive Analysis, Market Trends, Board Presentations, Market Research, Singapore, Market Research Analyst, Financing, Digital Banking, Financial Products, Banking & Finance, Startups, Financial Planning & Analysis (FP&A), Early-stage Venture Capital, Investment Analysis, Investment Committee Advisory, Investment Briefs, Structuring of Funds, Fund Structure, Equity Research Analysis, Net Debt Analysis

  • Investment Banking Analyst

    2011 - 2012
    Bank of American Merrill Lynch
    • Assigned to cover insurance companies in the region because of strong financial modeling skills as part of the Financial Institutions Group's (FIG) industry team.
    • Prepared investor outreach materials and financial models for the Hong Kong IPO of PICC Group.
    • Advised a US-based insurance company on the potential acquisition of ING's Asian insurance business.
    • Advised a Hong Kong-headquartered private equity investment firm on its investment in a mid-sized Chinese insurance company.
    Focus areas: Mergers & Acquisitions (M&A), Corporate Finance, DCF Valuation, Pitch Decks, DCF Modeling, Three-statement Modeling, Capital Raising, Financial Planning & Analysis (FP&A), Manufacturing, Investment Analysis, Investment Committee Advisory, Investment Briefs, Fund Structure, Equity Research Analysis, Net Debt Analysis

Other Experience

Education

  • Bachelor's Degree in Finance and Business Economics
    2008 - 2012
    The Chinese University of Hong Kong - Hong Kong, China

Certifications

  • CFA
    DECEMBER 2018 - PRESENT
    CFA Insitute

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