Wright Partners Comes as a "Venture Builder", Partnering with Corporates Who Want to Build a Digital Business

After "graduated" from the company he founded, Tokobagus, Arnold Sebastian Egg or as he is familiarly called Arno Egg never stop innovating. In his journey to support business development, he and one of his colleagues, Ziv Ragowsky, discovered the fact that there are many companies that are currently looking for different ways to innovate. Usually, innovation for a business is by creating a new business.

Once a company makes the decision to build a business, it is important for the company to be aware of the various technology trends but also to build its own significant assets. In addition, what is no less important is aligning the company's desires and trends with short and medium term strategies to ensure internal support ahead of the momentum being built.

This was then seen as an opportunity when they first formed Wright Partners. A venture builder consists of serial entrepreneur and experts in the technology industry.

"We come from a variety of backgrounds (product, commercial, academic, consulting) and recognize that there are models that can work for the corporate [may require further education] to build a business with flexibility and scalable risk taking that can be applied across the global median in multiple scales. This, coupled with the idea that there are big problems to be solved in this region, is what we believe to be the value and purpose of building ventures that led us to the concept of Wright Partners," explained Arnold Egg in a brief interview with DailySocial.

Business Model

As an entity that focuses on activities venture building, the business model offered by Wright Partners is quite different and unique. The company works closely with corporates to assist them in running corporate innovation. The two services offered include Corporate Venture Building and CVC as a Service.

There are many companies that dare to invest heavily to build a business but have not been effective in utilizing their considerable resources. This can be caused by the company's internal mindset and sometimes a lack of insight regarding business development, as well as several external factors that make this initiative not successful. cost-effective.

Corporations must find ways to unlock and leverage their assets to enable them to innovate better and scale faster than traditional startups. In carrying out this business model, Wright Partners works in stages to build the business.

"Initial phase is a design where we have enough cash/investment from corporate partners to achieve their investment commitments within 4 months. In this phase, two to three of our partners will act as co-founders of the team we formed together, which includes Venture Leads (which if it goes well will be founder - but subject to change in terms of 4 months) as well as two Venture Architects which can be full-time working on the business or, if proven to be co-founders," explained Arno.

One of Wright Partners' business differentiations is to peg the average total investment required by the company to market at around $1,6-1,8 million over 16 months. It will be standard to ensure that 4 months are most effective (and make investment - otherwise there will be no profit at all).

After the first 4 months, according to the decision of the partner investment committee, the company again offers options regarding ongoing engagement based on business needs. With the agreement that the business is on the right track and strong, the company will get a share of equity and then take a role in the business through the investment of knowledge and connections it has.

"We believe that immersive content combined with the right company assets and a strong entrepreneurial mentality will create success, so our model focuses on aligning all three to thrive across industries and business sectors," said Arno.

CVC as a Service or CVC as a service is an initial opportunity with one of the corporate partners. Wright Partners has helped the private school system to build CVCs and make initial investments. Through this effort the company discovered that there are different types of organizations interested in understanding the investment industry.

Future plan

Based in Singapore, Wright Partners claims to have equal representation in Indonesia. During approximately 6 months of operation, the company has helped design innovations in 6 companies, two in Indonesia, three in Malaysia, and one in Singapore.

This innovation has rolled out in several sectors including fintech, edutech and agritech. Other sectors that are currently being tested are insurtech, sustainability technology (sustainability tech), and retail analytics. The team has advisors and business partners who are experts in their respective businesses and will expand into other industries such as logistics, OTA, adtech, and more. It also claims to have run partnerships to expand its reach and capabilities in all aspects of Crypto and Blockchain.

While Wright Partners is focused on helping corporates to build a corporate investment model, the team is currently in the process of collecting fund independent.

"We hope to soon support businesses with our own funds and push them towards greater success," concluded Arno.