Jerry J.M. Yang 
Partner 
Hardware Club

Investment Targets
Connected objects / HaaS (Hardware-as-a-service) / IoT (Internet of Things)

Career — 13 years of R&D / 4 years as an entrepreneur @ Silicon Valley, Taiwan, France, China, Japan, Korea

Languages — Mandarin, English, French, Japanese, Italian

Likes — Literature, classical music, philosophy, history, photography, arts, architectures, jazz, wine, cuisine, all things beautiful

Motto — I work very hard so that luck could work its wonder

What I look for ...

Passion — entrepreneurship is a long, uphill battle. resources are scarce and opportunities are rare. without passion one is definitely off on the wrong foot, with little hope of overcoming all the obstacles that lie ahead

Perseverance — as an entrepreneur, your biggest anxiety will come from people around you, especially those that you care about dearly. most people who have paid jobs don't see the rationale of hopping on the high-speed train of startups without a known destination and might derail at any moment. perserverance is the fundamental to handle all social pressures and see it through

Flexibility — from a good idea to a commercially successful offering there are simply too many variables that could break the deal — even a good product could be rejected by the market because of timing. a real entrepreneur adapts and evolves. he is also able to generate ideas after ideas. the last entrepreneur I'm interested in would be someone who keeps pulling a Winklevoss Brothers

Cosmopolitan — a good entrepreneur thinks about the global market before he even hires a lead engineer. these days you always have to have the world in the back of your mind, if not all the time, for a VC to be interested in seeing your demo

Integrity — this seems to go without saying but believe it or not, this might be the last quality that a VC is willing to compromise on when they see a decent investment opportunity. for example, no VC will want to risk their capital (and potentially their jobs) if they sense any opportunism in an entrepreneur, that he or she might jump ship the moment a better personal opportunity surfaces

What I yawn over ...

I have this wonderful idea but you have to swear not to tell anyone else! — my mentor Mark Bivens of Truffle Capital explains it the best in retort : how are you gonna explain to your customers about the idea without each one of them signing an NDA?

Look at our projection, you'll make 2X return in 3 years! — sorry, but a VC is probably looking more to invest in 20 companies that project to have 100X returns so that when one of them achieves that, it will cover the loss of all the other 19 that unfortunately fail, generating an fund-level IRR of 30%. if your company projection is 2X in 3 years, it's better you reach out to the bank or the growth capital, not a VC. there's a reason why the word "venture" in attached to this business

The syndicates in France control XXX amount of budget! Imagine just a piece of that cake! — if your grand idea is to replace a certain part of a kinky bureaucratic process in France, thanks but no thanks. not only it seriously limits the expansion opportunities and exit channels but also you are at the mercy of the mercurial French laws

Lifestyle business — it's quite often that an entrepreneur sees a real niche in a particular market and happens to be equipped with the skills or the connections to build a profitable business out of it in medium term. but similar to the argument about the projected 2X return above, if the dream of the entrepreneur is but to be a boss and have an annual income comparable to his ex-colleagues or college mates working in big corporates, this is then what we call a Lifestyle business. it's all good and you will have a balanced life, but it's not a VC's business to sponsor the pursuit of this life style for you