By Phubes Asavasatitporn & Mimi Liu, Research Analyst, LSN
LSN prides itself on curating a global early stage investor platform. To do so requires connecting with investors in all time zones. Therefore, on a monthly basis, the LSN research team carves out time to reach out to investors in Asia and Oceania. China, India, Australia, Japan, and Korea are countries of particular focus. Typically, the analysts take a S.W.A.T. team approach. The following is a snapshot of a recent night of canvassing.
On June 18, five research analysts took on the challenge of uncovering life science investors in the eastern hemisphere. In the span of eight hours from 4 PM to midnight, we reached out to as many life science investors as possible.
We started off with a list of 450 investment firms in Asia and Oceania that we sourced from publicly available information. The prescreening process—determining which investors were likely to be investing in life science companies—took us approximately three hours. Our trimmed list spanned six investment categories: venture capital, private equity, corporate venture capital, angel, venture philanthropy, and family offices.
We then started calling investors. Our goal was to begin a dialogue about their investment criteria. Five research analysts called 121 potential investors. Although many of the investors were fundraising, winding down, or out of business, we were able to get six new mandates from two VCs, three private equity firms, and one angel group. These investors were based in Australia, China, New Zealand, and Singapore. We also spoke to 12 investors who wanted to continue having a dialogue with LSN.
The news here is that 121 calls netted a dialogue with 18 new investors and 6 current investment mandates. It is now up to the research team to turn those conversations into long-term relationships that will make our fundraising clients more effective and efficient when fundraising in Asia and Oceania. There are many strong targets left to connect with, and LSN will try to reach them on our next late-night shift.