Kyle Lam is Hong Kong’s Newest Business Angel Investor
Kyle Lam is Hong Kong’s newest business angel investor specialized in hardware.
Kyle was inspired by Castegram (now Casetify) startup, due to the innovative and creative approach and product. He use to manage operations in his family business, and electronics factory in China but he is now focusing on Hong Kong’s effervescent startup environment.
Ever since a young age, Kyle has looked up to his father, originally an entrepreneur himself and during a startup forum Kyle attended, he met the CEO of the Israeli startup OurCrowd. He told Kyle that entrepreneurs are heroes, because they have the courage to give it up all at once to start something from scratch. Having seen his dad do that, did nothing but inspire Kyle to pursue this too.
He has made it his own personal mission to ‘Invest in Heroes’, and has already started his first investment company ‘Big Bloom’ in 2013, to which he has since added companies such as Sensbeat, Snaptee and Ezeecube to his portfolio. He claims that “My philosophy is to invest in teams that provide services to help humans live a better life, the more startups that I’ve seen, I’ve discovered that I’ve been more interested in CleanTech, social media and something that’s consumer-based.”
Kyle believes that there are many financially-able individuals in Hong Kong who could go into being angel investor. Yet they lack an education in due diligence which would make them more comfortable when it comes to investing in technology and startups instead of buying stocks and property.
Although before beginning to invest on a startup, future investors need to ask certain important questions. For example they must inquire what the startups current financial state and burn rate is. This is essential he believes for Kyle tends to only invest in lean startup ideas, which find ways to lower costs and optimize revenue as soon as possible.
His advice towards startups is for them to have a clear knowledge about their financials and what they envision towards in the long run. . “Investors will be interested in your potential, your current revenue and what your plans are for the next six months to a year. Startups need to make it clear to their investors what the funding will be used for.”
This article originally appeared on StartsupHK