Withers has appointed a new Singapore-based partner as part of the expansion of its tech practice in the region.
Joel Shen has been named partner, according to a statement, after joining the global law firm in August last year as a special counsel.
Shen specializes in advising tech firms, funds and private investors on various stages from setting up, funding, scaling to exit. He has a strong focus on Southeast Asian markets, especially in Indonesia.
«Globally, we are witnessing private capital play an increasingly important role in the venture capital and technology space,» said James Shaw who leads the firm’s tech practice. «Withers is well-positioned to tap into this growth with its combination of private client, tax, investment funds, technology and venture capital investment capabilities.»
Southeast Asia Outlook
According to Withers, venture capital has funded over 2,000 Southeast Asian startup and tech firms over the last five years. And the coronavirus pandemic has not slowed momentum with over 200 deals achieved in 2020.
«Southeast Asia's venture capital market has grown exponentially,» added Daniel Yong, Withers' Asia co-head of the business division in Singapore.
«In 2020 alone, the region's total investment was US$13 billion, with Singapore and Indonesia amongst the largest recipients of venture capital.»
