Protégé Ventures: Empowering Students in the World of Venture Capital – Joanna Teo
Protégé Ventures (PV) is Southeast Asia’s first and only student venture fund and training programme. It provides students with hands-on VC training and network building, including creating investment memos to secure funding for startups. In this series, we chat with PV members, including SMU Master of IT in Business student Joanna Teo, on their experience in empowering the next generation of investment analysts.
We’ve all heard of venture capital (VC) and angel investors. Many successful brands like Facebook, Airbnb, and Robinhood launched with their help. But how did these companies secure funding, and how can you find investors willing to invest in your idea?
SMU provides students with a pathway into the venture capital industry through Protégé Ventures (PV), which connects them with venture capitalists who provide financial support, strategic guidance, industry connections, and practical experience.
What sets PV apart is its student-run structure. Established in 2017, PV is Southeast Asia’s first and only student venture fund and training programme. It offers hands-on VC training and extensive networking opportunities, helping students from all walks of life become tech-savvy entrepreneurial leaders.
In this series, we engage with members of PV to learn all about their experiences at the venture fund. Here, we speak to Joanna Teo, an alumna of SMU’s School of Computing and Information Systems, who joined PV when she embarked on her postgraduate journey with SMU’s Master of IT in Business (MITB). Already a successful data consultant, a chance encounter with a Fintech module reignited her passion for startup innovation and venture capital education. Joanna also serves on the executive committee of the SMU Alumni Founders group, fostering the entrepreneurial community, and acts as an SMU alumni ambassador, supporting philanthropic initiatives.
From boot camp to student analyst
Joanna’s introduction to PV was serendipitous. While pursuing her postgraduate studies at SMU, she became captivated by a Fintech startups class that rekindled her dream of launching her own product startup. Realising that knowledge is power in the competitive startup landscape, she sought to understand how emerging companies leverage strategic funding.
This quest led her to PV, a transformative programme that equips students with the skills to navigate venture capital. The programme begins with an intensive two-day bootcamp, where Joanna and her peers faced their first challenge: selecting a startup and crafting an investment pitch.
Over the next two months. Joanna engaged in a structured curriculum covering multiple facets of venture capital. The programme culminated in two key assessments: an individual evaluation of VC principles and a team project developing an investment memo analysing a startup's value proposition and scalability. Valuing the experience, she chose to extend her involvement with PV beyond the required one-year commitment.
Today, Joanna actively contributes to PV's venture functions as a lead in portfolio development, using her expertise to strengthen the organisation's value for the startup community. Her commitment highlights the programme’s impact and its potential for long-term engagement in the venture capital ecosystem.
“PV didn't just teach me about venture capital,” she says. “It showed me how to turn my passion for innovation into a force for change. By continuing to work with PV, I'm not just ready to build the future—I'm actively shaping it, one startup at a time.”
Gaining insights from startup interactions
“Interacting with startup founders has been eye-opening,” Joanna reflects. “I've learnt the importance of adaptability in uncertainty. Founders often navigate ambiguous market conditions, and their ability to pivot quickly while maintaining a clear vision is remarkable. This experience has shown me that resilience and strategic flexibility are as crucial as having a great idea.”
Through PV, student analysts can apply their knowledge to real-world investment scenarios and work with groundbreaking startups. The programme also fosters increased openness from other VC firms, who are more willing to share their experiences with student analysts.
Joanna recounts working with Zolo, where her team had the opportunity to learn from the startup’s other investors in real time, “This level of transparency is uncommon in the competitive VC world and provided us with critical insights into securing and structuring startup funding. It was a masterclass in due diligence and deal negotiation that you can't get from a textbook.”
While creating the investment memo for Zolo, a B2B software company helping food suppliers boost sales and streamline order management on messaging apps, Joanna observed the founders’ interactions with potential partners, “What struck me most was how the Zolo founders built trust through prompt and radical transparency. This taught me that in the startup ecosystem, trust, clear communication and strong work ethics are just as important as the product or service offered.”
Engaging with deals also offers Joanna valuable insights into a company's needs, enabling her to offer support to founders far beyond the initial funding decision, such as when she connected a potential client to one of PV’s portfolio companies.
Opening doors for students from diverse backgrounds
PV is breaking down barriers in the traditionally exclusive world of venture capital, offering students from diverse backgrounds the chance to become skilled investment analysts.
So, what does it take to be a PV analyst? According to Joanna, it starts with an open mind. “Being a PV analyst requires more than financial acumen. You need to be prepared to feel uncomfortable,” she advises. “This discomfort is where the real learning happens. It’s in these moments of uncertainty that you grow the most, both professionally and personally.”
Joanna reflects on how PV has transformed access to the VC industry, “Opportunities like this were scarce when I was an undergraduate. Now, thanks to SMU’s extensive industry collaborations, students have unprecedented access to venture capital. PV isn't just a programme; it's a bridge connecting passionate students to an industry that was once out of reach.”
Her key message is clear, “The opportunities in venture capital are more accessible than ever, but you have to seize them. My experience with PV has shown me that with dedication, curiosity, and a willingness to step out of your comfort zone, you can carve out a place in this exciting industry. The door is open; it's up to you to walk through it and make your mark.”
Curious about student ventures or the VC landscape? Learn more about Protégé Ventures and how it can kick-start your career or business here.
