International law firm Withers has further strengthened its Withers tech Asia and Singapore corporate practice with the promotion of technology and venture capital specialist Joel Shen to Partner in Singapore amidst growing momentum in fintech and venture capital investments across Southeast Asia.
Joel specialises in advising technology companies, funds and private investors from set-up, funding, scaling to exit. His clients also include major financial institutions, retailers, e-payment companies, and venture capital fund managers. He is a Singapore qualified lawyer, a solicitor in the UK, and a Foreign Registered Lawyer in Indonesia.
He has an impressive track record in the technology sectors and is recognised for his keen understanding of the Southeast Asian market, particularly Indonesia. He is listed in several leading legal directories for his fintech, venture capital and corporate expertise, including Chambers & Partners’ inaugural Fintech guide for Indonesia.
In 2020, Joel was appointed, by the Singapore Academy of Law (SAL), to its Venture Capital Investment Model Agreements (VIMA) working group, where he is involved in the development of VIMA is a set of model form venture capital investment agreements, together with the Singapore Venture Capital and Private Equity Association (SVCA).
James Shaw, who leads Withers tech, comments: “Globally, we are witnessing private capital play an increasingly important role in the venture capital and technology space. Withers is well-positioned to tap into this growth with its combination of private client, tax, investment funds, technology and venture capital investment capabilities. Joel’s promotion is a testament to the fast-growing technology investments between Indonesia, Singapore and the broader Southeast Asia region and the growth of our practice in Asia.”
Daniel Yong, Withers’ Asia Co-Head of Business Division in Singapore, adds: “Southeast Asia’s venture capital market has grown exponentially. In 2020 alone, the region’s total investment was US$13 billion, with Singapore and Indonesia amongst the largest recipients of venture capital. Joel is one of the leading lawyers advising these investment flows into Singapore and Indonesia. His appointment and the exciting expansion of our Withers tech Asia team allows us to serve better both our private and institutional clients in their Southeast Asia investment needs.”
Joel comments: “In the last five years, venture capital has funded over 2,000 startups and technology companies in Southeast Asia. The COVID pandemic has not stopped venture capital interest in the region, with over 200 deals achieved in 2020. I expect the investment interest and momentum in Southeast Asia – particularly Singapore and Indonesia – to continue. I am proud to contribute to this regional growth story as part of Withers tech Asia.”
