Francis Wong · 黄俊祥

I BuildAcross Borders

I grew up in Singapore and have since worked and studied in Thailand, Vietnam, Korea and Japan. Somewhere along the way I got hooked on building things that cross borders.

Today I work in venture capital in Tokyo and run a few small businesses on the side. Every move has taught me something new about people, markets and how to actually get things done.

Francis Wong
Now: Venture Capital, TokyoUniversal Materials Incubator
🌏SG · JP · KR
TH · VN
Featured by NTU Singapore✦HEY! Magazine · “Epic interns”✦BrightMinds Magazine 2026✦NTU on Instagram · X · LinkedIn · Facebook✦
A Builder Shaped by Exposure

I've never really stuck to one path.

I've always gone looking for places that make me a little uncomfortable. That meant internships abroad, starting businesses while still in school, and saying yes to things before I felt ready. Most of what I know, I learned by doing it and getting some of it wrong first.

This site puts all of that in one place: the businesses I've started, the work I'm proud of, and what I picked up along the way.

13
Countries
Experienced
6
Ventures Built
/ Involved In
10+
Papers &
Projects
4+
Years Cross-Border
Exposure
Francis Wong in Seoul
About Me

A foundation built across borders

I'm from Singapore and now live in Tokyo. Over the past few years I've lived, worked or studied in Thailand, Vietnam, Korea and Japan.

Every place ran on its own rules, and I had to figure them out fast. That's where most of my real learning happened.

Read My Full Story
What I'm Building

Ventures & Work

From Danjjak in 2022 to what I'm building now. Swipe through them in order.

Across Borders

Places That Shaped Me

All Experiences

I've worked, studied and travelled across Asia and Europe. Each place changed me a little.

Worked / Studied Visited

Tap a highlighted country, or take the tour.

Let's Connect

If you're building something, thinking about Asia, or just want to swap ideas, I'd love to hear from you.

About Me

A builder shaped by
exposure & execution

Born and raised in Singapore, now working in venture capital in Tokyo, and curious about everything in between.

I'm Francis. I grew up in Singapore, and these days I live and work in Tokyo.

University took me further than I expected. I interned in Bangkok, worked in Ho Chi Minh City, did an exchange semester in Seoul and spent eight months working in Tokyo. Each move meant new rules, a new language and figuring things out on the fly.

I studied business and economics at NTU and loved the frameworks. But I noticed pretty quickly that a model on paper rarely survives first contact with real customers, real budgets and real deadlines.

So I spent as much time outside the classroom as in it. Internships overseas, volunteering, travel, and starting businesses of my own. That's where I learned that doing beats planning, and that context changes everything.

Along the way I've worked on ventures in e-commerce, education, Japanese craft and venture capital. Each one taught me something different about how markets work and why things break.

What keeps me going is the building itself. I like taking a rough idea and slowly turning it into something real.

Francis Wong in Japan
View from a plane window
Education

Academic Foundation

Nanyang Technological University
Bachelor of Business
Major in Banking & Finance  ·  Minor in Economics
First Class Honours (Highest Distinction) Nanyang Scholarship Dean's List AY23/24 Chua Thian Poh Overseas Immersion Award
Aug 2022 to Dec 2025
Singapore
Waseda University
Summer Exchange Program
Japanese Language (Beginner I)
Grade: 4.00 / 4.00
Jul 2025
Tokyo, Japan
Korea University
Semester Exchange Program
Exchange Semester
Global Korea University Scholarship
Feb 2024 to Jun 2024
Seoul, Korea
Personal Philosophy

How I think
about the world

I didn't read these in a book. I learned them from things that worked, things that didn't, and the people I met along the way.

01Execution matters more than ideas
02Incentives shape behaviour
03Exposure builds perspective
04Consistency compounds over time
My Journey

Five countries.
One continuous thread.

My path hasn't been a straight line. I kept choosing places I didn't know, because that's where I learn the most.

Here's the order it happened in, and what each place gave me.

🇸🇬
Singapore
Home Base
Where it started. I studied at NTU and started building businesses alongside my degree.
🇹🇭
Thailand
Work & Volunteering
My first time working abroad, at a social impact startup in Bangkok. I also volunteered with local communities, which stayed with me.
🇻🇳
Vietnam
Overseas Work Experience
Six weeks at a tech company in Ho Chi Minh City. I learned to watch first and act second.
🇰🇷
Korea
Exchange & Study Abroad
A semester at Korea University. I learned how much communication happens without words.
🇯🇵
Japan
Work & Living Abroad
Eight months interning in Tokyo turned into a full-time job. Japan taught me that the small details really do matter.
What Drives Me

The things that shape
how I work and think

Honestly, it comes down to two things: I like solving problems, and I like people. The best ideas I've had usually came out of a conversation with someone very different from me.

⚡
Solving Real Problems
Give me a messy problem and I'm happy. I like pulling it apart until I find something practical I can do about it.
🗺️
Connecting with People
Everyone knows something I don't. One good conversation has changed my mind more often than any textbook.
📖
Creating Value Through Collaboration
I've found that the best things I've worked on happened because people shared what they had. Things just go further together.

Interested in connecting?

Happy to chat about building, business, Asia, or anything else that's on your mind.

What I'm Building

Ventures & real-world
execution

The businesses I've started and the teams I work with, in the order they happened.

An Overview

Ideas tested against reality

I like ideas that have to prove themselves. In most of the ventures I've been part of, my job has been to take a plan and make it happen, whether that meant growth, operations or finding the right partners.

Each one taught me something I couldn't have learned from a book. Here they are in the order I started them.

Francis Wong speaking

I co-founded Danjjak in July 2022. We sell everyday essentials, skincare and over-the-counter products online. As a co-founder I run the day-to-day: stock, logistics, customer service and keeping orders moving.

My Role: Co-founder. I run daily operations, logistics and fulfilment.
What This Taught Me

Danjjak is where business stopped being theory for me. A late delivery or a bad review teaches you more than any lecture.

Danjjak
Focus Areas
E-Commerce
Operations
Demand Validation
Consumer Behaviour
🔬
Since Jan 2025 · Venture Capital · Deep Tech
UMI
Universal Materials Incubator
+

UMI is a Tokyo venture capital firm that invests in deep tech, especially chemistry and materials science. These are hard technologies to commercialise. They need patient money, specialist knowledge and good industry connections, and UMI helps researchers and companies turn them into real businesses.

My Role: I joined as an intern in January 2025 and stayed for eight months. In December the CEO offered me a full-time role, and I've been in Tokyo ever since. I'm also Chief Sustainability Officer at iPEACE223, one of UMI's portfolio companies, where I help the team grow without losing sight of long-term impact.
What This Taught Me

Sitting close to new technology showed me how long the road from lab to market really is. A great invention still needs a business around it.

iPEACE223
Focus Areas
Venture Capital
Deep Tech
Commercialization
Market Strategy

Hanabuddies matches students with Japanese tutors. We've since grown into translation, transcription and cross-border support too. As a co-founder I look after growth, partnerships and where the business goes next.

My Role: Co-founder. I look after growth, partnerships and strategy.
What This Taught Me

Most of our best changes came from listening to students. When you understand what people need, growth tends to follow.

Hanabuddies
Focus Areas
Education
Language Learning
Translation
Japan

ESOSG connects defence and security clients with the right partners and suppliers. It's a regulated, careful industry, and working in it taught me to be precise and accountable.

What This Taught Me

In sensitive industries, trust is everything. You earn it slowly, by doing exactly what you said you would.

ESOSG
Focus Areas
Strategic Trade
Defence & Security
Systems Coordination
Capability Access

The Frand Collection brings rare, handmade work by Japanese artisans to businesses around the world. Think leather bonsai sculptures and one-of-a-kind design pieces. We pick every item for its story and craft, as an alternative to mass-produced decor.

We also work on corporate gifts, interiors, hotel projects and private commissions, and we help artisans reach customers outside Japan so their craft keeps going.

My Role: Co-founder. From Tokyo, I source and identify Japanese artisans with unique stories and exceptional pieces, bringing them to global audiences.
What This Taught Me

The pieces people love most always come with a story. Matching the right artisan with the right buyer is a craft of its own.

The Frand Collection
Focus Areas
Artisan Sourcing
Luxury Gifting
Japan
Cross-Border

I'm working on something new in the pet space, for pets and the people who look after them. It's still under wraps, so I can't say much yet.

A Small Hint

If you've ever wished caring for your pet were a little easier, this one is for you.

Focus Areas
Pet Care
Consumer
Building in Stealth
Lessons from Building

What building actually taught me

The lessons that stuck with me came from building things myself.

Running a business is harder than it looks. Ideas change the moment they meet real customers, tight budgets and not enough time. In the end, what counts is getting the thing to work.

01Turning ideas into action, even when time and money are tight
02Finding out what people actually want, instead of guessing
03Managing operations and navigating uncertainty in real time
04Seeing things from both the customer's side and the operator's
05Staying flexible when plans change, because they always do

Want to build something together?

Got an idea, a project or a question? I'm always up for a chat.

Let's Talk
Selected Work & Projects

Academic work that reflects
how I think

Research and writing from my time at NTU that I still enjoy rereading.

Academic Approach

More than performance

Grades aside, my university work shows how I think. I'm usually most interested in why something behaves the way it does, and what incentives sit underneath it.

Here are a few projects from NTU that I'm still proud of.

🔍
Analytical Depth
I approach problems by asking why systems behave as they do before proposing how to change them.
🌐
Real-World Connection
A theory is only useful if it explains something real. That's the test I try to hold my work to.
✍️
Clear Thinking
I write to think. If I can't explain it clearly on paper, I probably don't understand it yet.
Selected Projects

Academic & Research Work

BF3218 Financial Modelling · NTU · 2025
GMV Portfolio Construction & Covariance Analysis
Evaluating three covariance estimation methods for building a Global Minimum Variance portfolio.
What I Explored
How three covariance estimators (Traditional, Constant Correlation and Market Model) affect GMV portfolio performance, turnover, and statistical significance against benchmarks like the S&P500, USMV, and ONEV across monthly and quarterly rebalancing.
My Contribution
I led the statistical testing. I designed and ran paired t-tests across all six method comparisons, benchmarked the best portfolio against three indices, and wrote the executive summary and conclusions.
"The best method isn't always the cheapest one. The Traditional Method had the highest turnover yet delivered the strongest returns. Choosing an estimator is really a trade-off between performance, stability, and implementation cost."
ABF3602 Strategic Management · NTU · 2025
Airbnb's Business Model Fit in an Evolving Environment
PESTEL and VRIO analysis of how Airbnb's model holds up against regulatory pressure and host quality risks.
What I Explored
Can Airbnb's asset-light model survive tougher rules (Spain pulled 65,000 listings in 2025) and hosts who cut corners? I used PESTEL, Porter's Five Forces and VRIO to test its strategic fit.
My Contribution
A solo paper. I did all the research and wrote the whole thing, from the external analysis through to the final verdict on strategic fit.
"Airbnb's moat is real: 1,800+ patents, a brand that became a verb, and strong network effects. But its asset-light model is also its biggest vulnerability. When you don't own the product, you can't control the quality."
Sustainable Finance Module · NTU · 2024
Nippon Green Equity Fund (NGE): ESG Portfolio Construction
Designing a Japan-focused ESG long-only equity fund optimised on Sharpe Ratio with 100% SBTi certification.
What I Explored
We narrowed 2,515 Asia-Pacific stocks down to 20 Japanese companies using ESG screening, SBTi filters and Sharpe Ratio optimisation, then benchmarked the fund against the MSCI Japan ESG Leaders Index and three competing ETFs.
My Contribution
I led portfolio construction and the competitor analysis. I designed the Sharpe Ratio optimisation, built the 2020 to 2024 backtest, and presented how we stacked up against iShares ICLN, Invesco TAN and Global X Japan ETF.
"The fund delivered 9.43% annualised returns vs 4.78% for the MSCI benchmark, with a Sharpe of 0.33 vs 0.13. The takeaway: disciplined ESG screening combined with financial fundamentals doesn't have to sacrifice performance."
URECA Undergraduate Research · NTU · 2023/24
Palm Oil MNCs and Sustainable Practice Strategies
Qualitative case study on how Sime Darby and KLK navigated ESG pressures during and after COVID-19.
What I Explored
How two of Malaysia's largest palm oil producers dealt with sustainability demands from 2020 to 2023. That covered HCSA framework exits, the EU Deforestation Regulation, U.S. Customs forced labour orders, and managing stakeholders on a tight budget.
My Contribution
I reviewed 494 Factiva articles on both companies, tracked their SPOTT scores over time, and wrote the sections on stakeholder management and social sustainability. Published in the URECA@NTU 2023/24 Proceedings, supervised by Professor Lai Si Tsui-Auch.
"Sustainability is a business resilience question as much as an environmental one. COVID showed how quickly companies deprioritise ESG when margins are squeezed. But the companies that maintained commitments came out with stronger reputations."
ET5131 Venturing into Entrepreneurship · NTU · 2023
CVPID: Youth Employment Platform Feasibility Study
Designing a cross-border job-matching app to connect Chinese graduates with overseas opportunities in Japan and Southeast Asia.
What I Explored
Youth unemployment in China hit 20.4% in 2023. We asked whether an AI platform with live demand tracking, cultural training and visa support could become a viable cross-border talent marketplace.
My Contribution
I led the product section. I designed the matching and demand tracking features, built the Figma prototype, co-wrote the research on China's graduate job market, and helped compare us against Zhaopin, 51Job and LinkedIn.
"The most interesting insight was that the problem isn't a lack of jobs. It's a mismatch of geography and skills. Japan has structural labour shortages in the exact sectors where Chinese graduates are oversupplied. The opportunity was right there."
Writing Snippets

Selected Excerpts

A few passages I wrote myself. They're a good snapshot of how I work through an argument.

Strategic Management · Airbnb Case Study · 2025
On the limits of an asset-light model

Airbnb's asset-light approach also limits control over service quality, posing reputational risks through negative guest experiences. While its open hosting model has successfully increased supply, it has also resulted in uneven service quality, as the lack of mandatory host training or quality verification can erode guest trust. Managing regulatory and reputational risks will be crucial to sustaining long-term viability.

Why It Matters

I find this tension fascinating. The same choice that lets Airbnb scale so fast is also what makes it fragile. The model is brilliant right up until it isn't.

URECA Research · Palm Oil Sustainability · 2024
When sustainability becomes a trade-off

The pandemic highlighted the delicate balance between immediate business needs and long-term sustainability goals. Faced with high immediate returns due to soaring palm oil prices, many growers chose to maximise short-term profits rather than investing in replanting, resulting in stagnant yields and potential future production issues. The case underscores the importance of resilience and adaptability, as well as the need for integrated approaches that consider both economic and environmental sustainability.

Why It Matters

This was the big takeaway from months of research. Companies rarely drop ESG goals because they stop caring. They drop them because short-term pressure wins. If you want better outcomes, you have to fix the incentives.

Entrepreneurship · CVPID Feasibility Report · 2023
Why geography is the real market opportunity

The job market is also inundated with graduates who possess similar academic qualifications and specialise in specific fields of study. This has resulted in limited differentiation among candidates, making it challenging for employers to identify individuals with unique skill sets. With an increasing number of young Chinese professionals entering a VUCA job market, CVPID will efficiently connect Chinese graduates with international roles that require their skills and expertise, addressing the gaps created by the oversupply of graduates and the lack of demand for domestic job offers.

Why It Matters

The idea behind CVPID was simple. There aren't too few jobs. The jobs and the people are just in different places. Seeing it that way made the business case work, and it's how I try to approach most problems: first check you're solving the right one.

Want to explore more of my thinking?

Drop me a message. I'm always happy to talk ideas or research.

Get in Touch
Experiences Across Borders

Travel, exposure, and
real-world learning

The places I've lived and worked, and what each one taught me.

An Overview

Environments that changed how I see

For me, travel has always been a way to learn. New places force you to pay attention.

Living abroad made me notice things I used to take for granted, like how people talk, how fast they move and what they expect from each other. It made me a better listener and a lot more flexible.

Francis Wong Japan
Working in Japan
🇯🇵
Work & Living Abroad
Japan
What Japan Taught Me

Japan taught me to care about the small stuff. Excellence here usually means doing ordinary things really well, every single day.

There's a quiet intensity to working in Tokyo. Expectations are high and people take their craft seriously. It's changed how I think about quality.

I came for an internship and ended up staying for a full-time job. Living here has made me much more aware of how small habits, at work and outside it, add up over time.
Korea University exchange
🇰🇷
Exchange & Study Abroad
Korea
What Korea Taught Me

Seoul moves fast. My semester at Korea University taught me a lot about energy, friendship and keeping up with a very different rhythm of life.

I had to make friends from scratch, change how I communicated, and get comfortable not knowing exactly what was going on.

So much of communication in Korea happens between the lines. Learning to read the room there pushed me out of my comfort zone, and it's made every move since then easier.
Community work in Thailand
🇹🇭
Work & Volunteering
Thailand
What Thailand Taught Me

Bangkok was my first internship abroad, at a social impact startup. Some of the most human lessons I've learned came from my time in Thailand.

Seeing how far good intentions are from real impact made me think harder about what it means to create value.

Between work and volunteering, I saw how much someone's circumstances shape their chances. I also saw a kind of resilience and kindness that I still think about.
Microsoft and Noventiq event in Vietnam
🇻🇳
Overseas Work Experience
Vietnam
What Vietnam Taught Me

Six weeks at a tech company in Ho Chi Minh City threw me into the deep end, in a good way.

Everything worked a little differently from what I knew, so I learned to watch first and act second.

Things moved fast and plans changed often. I got better at staying flexible, reading the context and adjusting on the go, which I've relied on ever since.
Thailand volunteering
Thailand, community volunteering
Volunteering & Perspective

Experiences that
stay with you

Volunteering in Thailand shaped me more than almost anything else I've done.

It's one thing to talk about inequality from a distance and another to see it up close. It made me rethink privilege, opportunity and what real help looks like.

I helped prepare and hand out food, tutored, and spent time with families in the community.

What stayed with me was what I saw. Good intentions aren't enough on their own. Lasting help needs structure, consistency and a real understanding of what people need.

I still think about it when I make decisions in business today.

What I Did

Prepared and handed out food, tutored, and spent time with local families.

What I Saw

How far good intentions can be from real impact, and how resilient people are with very little.

What Stayed With Me

Real impact takes more than wanting to help. You have to listen first, then show up consistently.

A Closing Reflection

Looking back, I grew the most whenever I left what was familiar. Every new place showed me there's more than one right way to do things. The more places I see, the more comfortable I get with not having all the answers.

See the Gallery
Let's Connect

Open to meaningful
conversations

Whether it's a business idea, a partnership or just a good conversation, feel free to say hi.

Get in Touch

I'd love to hear from you

If you're building something, thinking about Asia, or just want to swap ideas, I'd love to hear from you.

I read everything that comes in and try to reply to as many as I can.

Send a Message
I'll get back to you as soon as I can.
I read every message and respond to meaningful inquiries.
What You Can Reach Me About

Topics I'm happy to discuss

🌏
Cross-Border Building
Starting or growing something across Asia? Let's compare notes.
🤝
Partnerships & Collaboration
If you're working on something interesting and think there might be alignment, I'd love to hear about it.
💡
Ideas & Conversation
Good conversations don't always need an agenda. Reach out if you want to exchange perspectives.

From Singapore, Based in Tokyo, Building Across Asia

Based in Tokyo, with roots in Singapore and friends all over Asia.

🇸🇬 🇯🇵 🇰🇷 🇹🇭 🇻🇳