Shao Ning, Cofounder of AngelCentral and returning guest from Episode 267, joins Jeremy Au to reflect on Southeast Asia’s startup evolution from the fundraising highs of 2021–2023 to today’s disciplined recalibration. They unpack how founders, investors, and angels are adapting to longer fundraising cycles, stricter due diligence, and a renewed focus on cashflow and execution. Shao Ning shares lessons from building AngelCentral, how she balances investing and family life, and what she tells her four sons about navigating an AI-driven future. Their conversation spans shifting market dynamics, founder accountability, and why sustainable growth now matters more than rapid expansion.

06:00 Market highs turned to prolonged winter: After the 2021–2023 boom, the ecosystem faces a slowdown as valuations drop and LPs demand real returns.

10:00 Fundraising timelines doubled: Founders now need up to 18 months to close rounds, making cost control and financial discipline critical to survival.

15:00 Over-optimism gave way to realism: Southeast Asian startups once chased rapid growth across markets, but the focus is shifting back to fundamentals and measured scaling.

17:00 Founders must prioritize business over fundraising: Shao Ning reminds entrepreneurs to build traction and sustainability instead of chasing term sheets or inflated valuations.

19:00 Balance investor advice with founder instinct: Founders should listen but make their own calls, since they understand operations and timing better than their investors.

25:00 Investment discipline returns: AngelCentral halves its annual outflow and targets post-seed founders with real revenue and strong cashflow management.

32:00 Preparing the next generation: Shao Ning urges her sons to combine hard skills with soft skills, invest in themselves, and build adaptability as AI transforms the job market.

Watch, listen or read the full insight at https://www.bravesea.com/blog/shao-ning-surviving-startup-winter

Get transcripts, startup resources & community discussions at www.bravesea.com

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