Stefan Jung, a Partner at Singapore-based venture capital firm Monk’s Hill Ventures, has reportedly left along with two others, sources familiar with the matter have told e27. Jung himself formally declined our request for comment.
Christian Sutardi, an Associate, has reportedly also left. A quick check on his LinkedIn profile reveals that his time at Monk’s Hill is listed under having ended in May 2015. He is now listed as a Co-founder at Fabelio, a “design-centric e-tailer operating in Indonesia and soon in entire South East Asia”.
Mona Nomura, a self-employed digital strategy content specialist who has worked with the firm, has reportedly also left. We have reached out to Nomura for comment.
Jung’s profile on the firm’s homepage (now absent) included the following information:
Stefan founded several of Southeast Asia’s largest e-commerce companies, including Zalora and Lazada, which raised over $400M in funding. He was also a Venture Partner of Global Founders Capital, a $200M early stage fund. Prior to his entrepreneurial career, he was a strategy consultant at BCG and Bain, where he focused on private equity investments. Stefan obtained his B.S. degree from a global program from the Copenhagen Business School, University of North Carolina, and Tsinghua University in Beijing and his MBA from London Business School.
As for Sutardi, his profile oddly remains present on the Monk’s Hill website.
The firm describes itself as “a partnership of seasoned entrepreneurs who have built and backed global companies based both in Silicon Valley and Asia. We are a venture capital firm investing in technology startups that will take advantage of the fast growing Asian markets.”
“Monk’s Hill Ventures invests in top entrepreneurs in both early-stage companies in Asia as well as those running leading global growth-stage technology companies looking to enter Asia. Think of us as your trusted partner in Asia,” the firm adds.
Notable companies on its portfolio include Ninja Van, compare88, and ZipMatch.
More on this developing story as we get it.
[Updated at 17:35 SGT]: Kuo-Yi Lim, a Managing Director at Monk’s Hill Ventures, told e27 the following excerpts during a phone call:
We’re sad that they are leaving but we’re encouraging them to do it, so it’s all good stuff. We’re happy for it actually, in that they are [moving on] to do something interesting and exciting. In the case of Stefan, I don’t want to steal his thunder. You can search for him whenever he’s ready. Christian has stepped out and co-founded a company called Fabelio based in Indonesia. We’re excited for both guys and hope that they do well.
I’ll defer to [Stefan] whenever he’s ready to talk about it. He’s doing a couple things right now that probably he’s not ready to share yet. It’s been good [working with them]. These are all good guys, [and] especially in this environment right now where the scene is booming, fundraising is spectacular… you always have opportunities that you really want to jump on, and I can completely understand that. I came from that background myself, there’s always something you’re itching to do. We completely support them.
When you want to become good investors, the more experiences one has the better one becomes… so we’ve always encouraged the guys that if there’s something interesting that really gets you, you should go ahead and do it… We have some [new] guys that are already on board… Michelle Suteja is joining us as an analyst.
I should correct that we’re not raising a new fund… Our current fund is still open… [it’s] about US$80 million.