Cover From the red carpet to the boardroom, Asian celebrities like Deepika Padukone are building successful venture capital firms in Asia (Photo: Getty Images)
From the red carpet to the boardroom, Asian celebrities like Deepika Padukone are building successful venture capital firms in Asia (Photo: Getty Images)
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They’re actors, athletes, and now... venture capitalists? Meet the Asian celebrities investing in the future
They might be best known for their excellence on the big screen or the sporting arena, but these Asian celebrities are multi-hatting as venture capitalists. In the US, celebrities including Ashton Kutcher, Oprah Winfrey, Serena Williams and Snoop Dogg have diversified to start venture capital firms, investing in companies such as Bumble, Oatside, Impossible Foods and Uber.
“Celebrities today don’t want to be seen as just movie stars but also as smart investors,” Aviral Jain, managing director of the valuation advisory services practice of Kroll, told the BBC in an interview late last year.
This trend isn’t entirely new; celebrities have long sought ways to multiply their earnings, from plastering their names on perfume bottles to starting beauty brands à la Selena Gomez and Katrina Kaif.
Read more: Asia’s leading venture capitalists are propelling innovation in the region
In China, pop singer Hu Haiquan has been a pioneer in this space, investing in over 50 startups since 2013. In an interview with CNBC, he explained, “Fame and resource superiority that celebrities have could be turned into bargaining power,” adding: “We are able to invest with cheaper prices.”
These celebrity VCs bring unique advantages to the table. Their fame opens doors and gives them access to deals that traditional investors might miss. Their established networks connect them with key players in the industry. And they often invest in sectors they know well, like lifestyle and consumer goods. In turn, their connections and the media attention that they get can benefit the startups they invest in.
In an interview earlier this year with Tatler Singapore, Simu Liu revealed that he is working with white-label VC company X&, which has collaborated with the likes of Kevin Hart and Steve Aoki, on his new firm, Markham Valley Ventures. He explained, “What they’re really good at is identifying the mission statements of each individual celebrity and building funds around us that can amplify our core messaging.”
So, who are these Asian celebrities injecting capital into the global startup landscape?
Read more: Simu Liu on his mission to uplift the Asian American community
Funding companies in health and wellness: Joseph Schooling
Above Retired swimmer Joseph Schooling is carving a path in the VC space (Photo: Don Wong)
Retired swimmer Joseph Schooling is carving a path in the VC space (Photo: Don Wong)
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In April 2024, Singapore’s gold medallist Joseph Schooling announced his retirement from the swimming circuit and revealed that he would be venturing (pun intended) into the VC space, focusing on “health and wellness, tech and sustainability”. His two other partners at Swaen Schooling Capital are investment banker Cliff Go and serial entrepreneur Ben Ling. He also started Swim Schooling, a swimming school for children, in 2016.
In an interview with Tatler Singapore earlier this year, he mentioned that he is looking to create a “multimillion‑dollar fund, forge partnerships and impact society in a positive way”, adding that “legacy is important. How do you hoist the person next to you, and also just be happy in life.”
In September of this year, he also announced that he would be seconded to Vertex Ventures Southeast Asia and India as an associate in its investment team.
Read more: Joseph Schooling on the Tokyo Olympics and life after swimming
Uplifting Asian communities: Simu Liu
Above Hollywood actor Simu Liu is dedicated to uplifting Asian communities (Photo: Tatler)
Hollywood actor Simu Liu is dedicated to uplifting Asian communities (Photo: Tatler)
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On-screen superhero Simu Liu is committed to using his star power to uplift Asian communities via his newly minted venture capital firm, Markham Valley Ventures, where he serves as general partner.
In an interview with Tatler Singapore last month, Marvel’s first Asian superhero and the lead character in Shang Chi and the Legend of the Ten Rings said, “Just as there are Asian American actors and actresses that are struggling to be seen, there are also Asian and Asian American founders and entrepreneurs that are struggling to get their businesses off the ground.”
This is not a new space for the Canadian, who studied business in university. He is also the chief content officer for Mìlà, a Chinese soup dumpling company based in Bellevue, Washington state.
“One of the things that I want to put my mark on is this world of startups,” he told Tatler Singapore. “I want to uplift Asian American artists and founders and that falls into my wider mission statement of just uplifting our community in general.”
Read more: Is bubble tea unhealthy and can boba be subject to cultural appropriation?
Supporting Japanese startups: Keisuke Honda
Above Keisuke Honda is a former footballer turned venture capitalist (Photo: Getty Images)
Keisuke Honda is a former footballer turned venture capitalist (Photo: Getty Images)
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Former AC Milan midfielder Keisuke Honda is one of the first Japanese celebrities to start his fund earlier this year. His KSK fund is looking to raise US$100 million for over 30 startups from his home country, where the startup scene is starting to explode. According to reports, there were 61 funds established in Japan in the first half of 2023 alone.
His goal is to support Japanese companies in their global expansion plans: “Japanese startups have been playing a game that’s too domestic, and one of the reasons lies with VCs here. We’re going to go after the few startups at the very top that are hungry for growth and turn them into global companies,” the Singapore-based footballer told Bloomberg in an interview in January 2024. He added, “I realised I’m getting access to pretty good deals because people know who I am from my career as a soccer player.”
This is not Honda’s first rodeo in the VC space, as he set up Dreamers VC with Will Smith in 2018, where they invested in Elon Musk’s The Boring Company and Neuralink.
Read more: Datuk Nicol Davis is shifting her sports legacy to empower tomorrow’s athletes and their families
Investing in consumer technology: Deepika Padukone
Above Indian superstar Deepika Padukone started Ka Enterprises in 2014 (Photo: Getty Images)
Indian superstar Deepika Padukone started Ka Enterprises in 2014 (Photo: Getty Images)
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Bollywood actress Deepika Padukone set up Ka Enterprises with her father, retired international badminton player Prakash Padukone, in 2014, investing in consumer-focused startups. In the past decade, they’ve put their money into India-based companies including dairy manufacturer Epigamia, furniture retailer Furlenco, educational gaming brand Playshifu and coffee chain Blue Tokai.
According to the newspaper DNA India, Ka Enterprises started from scratch with small investments and has since grown leads and bounds, making a multi-million-dollar turnover annually. Padukone’s business partner Jigar Shah told the newspaper, “We run KA Enterprises like a typical venture shop. For [Deepika], it’s more of a gut-driven decision-making process, whereas I do most of the meetings around business models, channel checks and due diligence. She is the heart and I am the mind of KA.”
Shah, also Padukone’s partner in her skincare brand 82°E, is currently raising a new round of funds with investment from Ka Enterprises.
