Fundraising for first-timers Finding investors means developing a relationship

Funding pitch: A file image of Teak Capital Sdn Bhd managing director Chok Kwee Bee (left) listening to Web Bytes Sdn Bhd founder Ooi Boon Sheng explaining how his product helps retailers.

I recently mentored an entrepreneur who needed advice on fundraising. After working on his startup for five months, his product finally caught some traction.

However, he barely knew any investors in Malaysia or Singapore. Our conversation resulted in him realising that from start to finish, the fundraising process usually takes about six months, and that when you “ask for money, you’ll get advice; ask for advice and you’ll get money”.