Ng was a whizz kid from the get-go. When he first got computers and was able to access the internet, he found his escape. “I started to think of how small Malaysia is, in the global context. That set me on my path to delve into the digital world. I remember during school my other friends started getting part-time jobs, but I made friends with a guy called TJ, who taught me how to code. I used to flip the classified pages of newspapers, and if a company advertised something, where you only had a number to contact and no website, I’d call them and offer my services,” Ng explains. “From [charging for] web design, I eventually could afford things I wanted and liked.”

Graduating with a degree in marketing from University of Technology Sydney, Ng continued pursuing his passion for the digital realm by joining Mindvalley, an online personal growth platform which at the time only comprised six staff. Despite being encouraged by a family friend to join McKinsey, and going through the entire interview process, plus the massive salary bump offered by the consulting firm, Ng decided to stick with Mindvalley.

“When I decided not to show up for the final interview, everyone was surprised, from the McKinsey recruiter to my mum, but it was a really important juncture for me—whether to follow my passion for the internet, or to follow what other people deem prestigious.”

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A few years later he left Mindvalley to co-found Says.com, an online research company with fellow entrepreneur Joel Neoh, which they quickly pivoted to a news site targeting readers in their twenties. That flourished, so Neoh and Ng decided to collaborate again and came up with Groupsmore, which was acquired by Groupon three months later. Says.com was eventually listed in Bursa as Rev Asia Bhd, and subsequently bought over by local media giant Media Prima for RM105 million.

“I spoke to my dad about how he and his siblings spent their life savings to educate us and give us opportunities, and how the money I made from the sale of Says was more than their entire life savings combined. Clearly technology is the way forward, to help others unlock generational wealth, and in a shorter span of time. It was quite a revelation.

“Knowing that this power exists, I had two options: either I start building more companies or do something more meaningful with my life. If I build more companies, I only create wealth for myself, but I felt that journey would be a lot less fun if you’re not enriching those around you,” says Ng. This realisation set him on the path of investing in others, beginning as an angel investor. His first investment was in a former schoolmate, Ching Wei Lee, and his financial comparison engine iMoney.

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Ng wasn’t content with being a big fish in a small pond. “I just bought a plane ticket and hit Silicon Valley in 2012. Having asked around for introductions, I met many investors, most of whom didn’t know much about Malaysia,” says the now 38-year-old.

“But there was one group of investors—back then called 500 Startups, now known as 500 Global—that left an impression on me. They were an all-American firm with a truly global outlook—they’ve invested in Singapore, Latin America, and know all these places—and they engaged with me as a fellow global citizen, not a foreigner. Most of all, they shared my vision. At the time, I think the US only made up about eight per cent of the internet population but held most of the venture capital funding.”

“I saw that as a huge opportunity. The rest of the world definitely has talented people, and there’s plenty of markets that are untapped. So, if we believe in the potential of other markets, where there’s good local talent, why not invest there? That planted a seed in my mind—maybe it’s not just Malaysia, I want to invest in the rest of the world and take advantage of this arbitrage opportunity. When I pitched to 500, I said ‘Let me be a partner, and expand 500 globally, starting with Southeast Asia.’ They told me, ‘Sorry, we just met you; let’s get to know each other a bit more first,’” he admits with a laugh.

Ng offered to be a volunteer in the firm’s accelerator programme but was offered a stipend to become a mentor. That was where he sharpened his investing skills, learning from other investors and broadening his range via meetings with other entrepreneurs and companies. “In that process, the founders saw the value I could add and started to like working with me.”

Read the full story by grabbing a copy of the November 2022 issue at newsstands or get the digital copy by clicking here.

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