Introducing Kyle Lam of Big Bloom Investment – a business angel with a hardware background.
While managing operations for the family business, an electronics factory in China, Kyle was inspired by Hong Kong startup Castegram (now Casetify) and their innovative product – which turned his attention to Hong Kong’s growing startup scene.
Having grown up alongside his father’s entrepreneurial spirit, Kyle attended a startup forum and caught the CEO of Israeli startup OurCrowd’s keynote. “He said that he thought entrepreneurs are heroes because they have the courage to give up their original job to start something from scratch,” Kyle said. “I’ve seen my dad do it once and I really admire that.”
Equipped his mission to “Invest in Heroes,” he started his first investment company Big Bloom in 2013 and has since added Sensbeat, Snaptee and Ezeecube to his Hong Kong portfolio.
“My philosophy is to invest in teams that provide services to help humans live a better life,” he said. “The more startups that I’ve seen, I’ve discovered that I’ve been more interested in CleanTech, social media and something that’s consumer-based.”
When asked about the funding environment in Hong Kong, Kyle said that there are many financially-able individuals that could go into angel investment. But that would require more education in due diligence to get them comfortable with investing in technology and startups vs. buying stocks and property.
According to Kyle, there are a few important questions every investor should ask before beginning work with a startup. “Asking the startup about their current financial state and burn rate is essential. Because I tend to go with lean startup ideas, I always suggest to find ways to lower costs and get revenue as soon as possible,” he said.
Kyle advises startup teams to be as knowledgeable about their financials and vision for the future as possible. “Investors will be interested in your potential, your current revenue and what your plans are for the next six months to a year,” he said. “Startups need to make it clear to their investors what the funding will be used for.”
Kyle Lam on Startbase.HK: Kyle Lam
Big Bloom on Startbase.HK: Big Bloom
More profiles on Hong Kong angels:
- Angel investor and startup mentor Tytus Michalski share his passion for supporting Hong Kong entrepreneurs
- Felix Lam: serial entrepreneur, angel investor and startup mentor lends advice to Hong Kong’s ecosystem
- Melissa Guzy of Arbor Ventures: entrepreneur and venture investor shares startup investment insight
