In this episode of the DevReady Podcast, host Andrew Romeo speaks with Nicholas Ooi, an investor at Investible, about his journey from corporate consulting to venture capital. Nicholas shares how his passion for technology and startups led him to make a career shift into the startup ecosystem, specifically during its rapid growth in Australia. Now, as part of Investible, Nicholas focuses on early-stage investments in the ANZ and Southeast Asia regions. Looking ahead to 2025, he is optimistic about improving market sentiment, especially for early-stage investments, and the growing role of AIArtificial Intelligence (AI) is a very large and broad spectrum of technologies which most people would be familiar with through... in streamlining software development for founders.
Nicholas discusses the stages of investment that Investible focuses on, specifically Pre-Seed to Series A. These stages include companies that are either pre-revenue or just beginning to generate some revenue. He emphasises that Investible invests in a wide arrayIn programming, an array is a data structure that allows a developer to maintain a collection of values or objects.... of sectors, including AI-enabled software, deep tech, and hardware, with a strong emphasis on building defensible companies. One key insight Nicholas shares is the growing importance of vertical applications in AIArtificial Intelligence (AI) is a very large and broad spectrum of technologies which most people would be familiar with through... startups, which are more effective than horizontal solutions. By targeting specific industries, vertical solutions allow companies to scale efficiently within their niche.
In addition to his thoughts on investment, Nicholas offers insights on the future of AIArtificial Intelligence (AI) is a very large and broad spectrum of technologies which most people would be familiar with through... and its role in software products. He believes that all software companies will need to incorporate AIArtificial Intelligence (AI) is a very large and broad spectrum of technologies which most people would be familiar with through... in the long term to remain competitive. However, he also stresses that successful companies must first focus on solving real customer problems before adopting AIArtificial Intelligence (AI) is a very large and broad spectrum of technologies which most people would be familiar with through.... Nicholas acknowledges the challenges faced by Australian companies competing with US giants due to capital constraints but highlights emerging opportunities in adjacent sectors like semiconductor chip production and machine learning models.
Nicholas gives a look into his daily routine as a venture capital investor. His day typically involves three main tasks: meeting with early-stage startup founders, conducting due diligence on promising investment opportunities, and preparing materials for the investment committee to secure funding. He underscores the importance of ongoing support for portfolio companies post-investment, as helping them grow and succeed is a key part of his role. Nicholas also touches on the balance of screening, analysis, and strategic involvement that makes up the comprehensive nature of his work.
Another important discussion in the episode focuses on the evolving nature of software business models. Nicholas highlights the shift from traditional subscription-based models to usage-based models, such as APIAn API is an Application Programming Interface. APIs are used to allow systems to retrieve data from other systems. It... call-based pricing. He also shares the significance of “founder-market fit,” explaining how successful founders often have a personal connection to the problems they are solving. Nicholas discusses how investors assess founders, looking for unique insights, technical expertise, and soft skills such as resilience and adaptability that are crucial for long-term success.
Lastly, Nicholas shares what sets Investible apart when working with founders seeking investment. He points to their strong presence in Southeast Asia, which offers businesses opportunities to expand into the region, and their angel syndicate model that provides hands-on, strategic value beyond financial backing. Nicholas also discusses the pressures of pursuing venture capital funding and encourages founders to carefully consider whether they truly want to scale their businesses under the expectations and long-term commitments that come with VC funding.
Topics Covered
- Nicholas Ooi’s journey from corporate consulting to venture capital
- Early-stage investments (Pre-Seed to Series A)
- AI-enabled software, deep tech, and hardware investments
- Vertical vs. horizontal AIArtificial Intelligence (AI) is a very large and broad spectrum of technologies which most people would be familiar with through... applications
- Challenges for Australian companies competing with US giants
- Nicholas Ooi’s daily routine and responsibilities
- Traditional vs. usage-based software pricing models
- Founder-market fit and assessing founders
- Investible’s Southeast Asia market presence and angel syndicate
Important Time Stamps
- What’s Exciting About Investing in 2025? Nicholas Ooi Shares His Vision (0:07 – 3:17)
- Investible’s Take on Early-Stage Investments: Pre-Seed to Series A (3:18 – 8:34)
- AIArtificial Intelligence (AI) is a very large and broad spectrum of technologies which most people would be familiar with through... First or Customer First? Nicholas Ooi Explains the Future of Software (8:35 – 14:26)
- A Day in the Life of an Investor: Behind the Scenes with Nicholas Ooi (14:30 – 16:32)
- What Makes a Great Founder? Key Traits Every Investor Looks For (16:33 – 23:07)
- Venture Capital: A Blessing or a Curse? Nicholas Ooi Breaks it Down (23:08 – 30:15)
