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The journey is very hard, from helping them hire people, to doing big partnerships, to giving them the capital they need.
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You need to be greedy when everyone is careful. We did 10 times more investments in 2022, when a lot of people were not investing anything.
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Today, I believe that 40% to 50% of our investments are in Indonesia, and they are growing.
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Southeast Asian founders are more ambitious now because they have support from the ecosystem.
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I'd say that 30% to 40% of our portfolio we bought from other investors on the cap table.