Protégé Ventures: Investing in Tomorrow’s Leaders – Zi En Lim
Protégé Ventures (PV) is Southeast Asia’s first and only student-led venture fund and training programme. It provides students with hands-on VC training and network building, including conducting due diligence on startups. In the third part of the PV series, we chat with SMU final year Bachelor of Business Management student Zi En Lim on his experience diving into the deep end of venture capital.
Venture capital (VC) powers the world’s most disruptive innovations, from early-stage startups to unicorns shaping the future. But for many, breaking into the VC world can feel out of reach, especially for young adults who lack investing experience, widespread and cross-disciplinary industry expertise or a robust network of industry contacts.
That’s where Protégé Ventures (PV) steps in.
Launched in 2017, PV is Southeast Asia’s first and only student-run venture fund and training programme. Supported by the SMU Institute of Innovation & Entrepreneurship, this national programme offers tertiary students real-world, highly experiential exposure to the VC ecosystem through:
- Hands-on investment experience
- Mentorship from industry professionals and alumni
- Opportunities to conduct due diligence and make strategic investment decisions
- Access to masterclasses, pitch sessions, and networking events
To date, PV’s portfolio spans 12 student-led startups that have collectively raised over S$32 million from leading institutional investors. Recent investments include ZOLO, an AI-powered B2B platform transforming food supply chains across Southeast Asia, and Equatorial Space Systems, Singapore’s only startup focused on rocket propulsion and space launch technology.
Meet Zi En Lim: From Student Analyst to Managing Partner
In this third instalment of our PV series, we speak with Zi En Lim, a Bachelor of Business Management graduate at SMU Lee Kong Chian School of Business. Zi En joined PV in 2022 as an analyst and has since risen to the role of Managing Partner.
His time at PV has been transformative, opening doors to internships and leadership roles, including a seven-month internship at M Venture Partners and a committee lead position at the 11th and 12th editions of the biennale global startup challenge, the Lee Kuan Yew Global Business Plan Competition (LKYGBPC).
Why Venture Capital? Why PV?
For Zi En, the world of venture capital had long held his interest due to a passion for startups, finance, and innovation. After he attended a PV information session and spoke to student analysts, the deal was sealed.
“What stood out was PV’s unique focus on analysing private market investments. That level of hands-on experience was incredibly appealing and provided a rare opportunity to gain practical exposure to early-stage investing, something that students do not normally get the chance to experience firsthand,” he says.
Unlike classroom learning, PV offered something different: the chance to work directly on early-stage investments, evaluate real startups, and participate in decision-making processes.
“Being a venture capitalist isn’t a job you can fully learn by reading about it, you need to experience it. PV provided that rare opportunity to dive deep into the VC ecosystem even while still in university.”

But beyond the practical experience, what truly resonated with Zi En was PV’s mission: to empower the next generation of founders in Southeast Asia. It was a cause he felt personally invested in.
Through PV, Zi En put his technical and soft skills to the test:
- Financial projections and valuation
- Deal sourcing and due diligence
- Communication, negotiation, and sales
More importantly, he developed a deep understanding of how venture capital works, from evaluating founders and business models to deploying investment capital. The experience not only sharpened his capabilities but also gave him a competitive edge in his professional journey.
From Analyst to Leader
Starting as an analyst conducting research and assessments, Zi En quickly grew into a leadership position. As PV’s Managing Partner today, he makes strategic decisions about the fund and mentors junior and senior analysts.
Under his leadership, the PV fund expanded into areas like eco-friendly space tech and strengthened industry ties. Zi En was recently recognised as one of the “Top 35 VC Leaders” by Indian Startup Times, a testament to his growing influence in the regional youth startup ecosystem.
“When applying for internships, I could directly relate my PV experience to real investment processes. That really made a difference in securing my internship at M Venture Partners.”
Learning Beyond the Numbers
Beyond PV, Zi En participated in the DBS Private Banking Applied Wealth Management Work Study Degree, an eight-month internship for SMU and NTU students.
There, he honed skills in reading financial statements and analysing annual reports. Working closely with employers in real-world settings taught him more than technical skills; it gave him practical insights he could carry across different roles and responsibilities.
“It’s also about recognising the passion, determination, and drive behind the founders. The ability to assess and support the right founders is critical to the success of the investment, and it has reshaped my approach to investment decisions and my role at PV.”

Inside the Startup Mindset: Lessons from LKYGBPC
Zi En also led the Sponsorship Student Committee for the 11th edition of LKYGBPC and participated heavily in the scouting and outreach for the 12th edition.
For him, the most memorable takeaway was the art and science of persuasion – both to compel potential sponsors to fund the competition and to excite remarkable startups to participate in the global competition.
“A big part of my role was figuring out how we could align the sponsorship opportunities with their business goals and add value to their companies. What surprised me was the level of thought and strategy that went into each company’s decision-making process, including how it would affect respective departments,” he explains.
“Understanding their internal dynamics and goals allowed me to better position the competition's value to them, which ultimately shaped their decision to come onboard.”
Why Students Should Dive In
Like many who came before him, Zi En describes PV as “a once-in-a-lifetime opportunity” for students keen on startups and investing. From exposure to live deals to mentorship from seasoned VCs, PV offers the kind of experiential learning few students get access to.

To students who are interested in PV, Zi En advises, “Talk to current PV members and alumni to get a deeper understanding of what we do, and ask questions about the work and the experiences here! Our community is always happy to share our knowledge and insights.
“Also, be sure to attend our info sessions and connect with our members. Not only will it allow you to learn more about PV’s mission, culture, and work, but you’ll also build connections with like-minded students. Showing initiative and engaging with the team can help you stand out when applying to join PV.”
Join the Next Cohort
PV is now opening recruitment for its 2025/2026 cohort. Don’t miss this opportunity to gain hands-on VC experience and join a dynamic community of future leaders in Southeast Asia’s startup scene.
Apply to PV HERE by 18 July 2025!