Inside the Boardroom: How VCs Actually Deal with Fraud & "Bad Faith" Founders - E690

How do you build a multi-billion dollar company while navigating the complex regulatory landscapes of Southeast Asia? In this episode, Jeremy Au sits down with Jecky Pelaez, Legal and Investment Partner at Kickstart Ventures, to pull back the curtain on the "unsexy" but critical side of venture capital: Governance and Compliance. Jecky reveals the stark differences between incorporating in Singapore vs. the Philippines, explaining why taxation on revenue (rather than profit) can be a "startup killer." They dive deep into the recent wave of startup fraud in Southeast Asia, the rise of down rounds, and the technical reality of managing a cap table when the "frothy" years of 2021 are long gone. Whether you are a founder trying to stay motivated during a bridge round or an investor looking to de-risk your portfolio, this masterclass in startup law provides the tactical blueprint for building a sustainable tech empire in Manila, Singapore, and beyond. 00:00 – The Critical Role of Governance in Growth 01:09 – Philippines vs. Singapore: The Incorporation Race 02:40 – From Banking to Law: Jecky Pelaez’s Journey to Kickstart Ventures 08:13 – A Day in the Life: "Making Sure No One Goes to Jail" 12:10 – Addressing Startup Fraud and Scrutiny in SE Asia 19:00 – The Reality of Bridge Rounds & Down Rounds in 2026 24:35 – Bad Faith Founders & The "Stuck" Capital Problem 30:35 – "Founder Friendly" vs. "Investor Protected" Clauses 35:00 – How the Philippines Can Improve Its Startup Ecosystem 38:15 – A Personal Story: Bravery, Grief, and Moving Forward Watch, listen or read the full insight at https://www.bravesea.com/blog/jecky-pelaez-kickstart-ventures Get transcripts, startup resources & community discussions at https://www.bravesea.com WhatsApp: https://whatsapp.com/channel/0029VakR55X6BIElUEvkN02e TikTok: https://www.tiktok.com/@jeremyau Instagram: https://www.instagram.com/jeremyauz Twitter X : https://x.com/jeremyau LinkedIn: https://www.linkedin.com/company/bravesea English: Spotify | YouTube | Apple Podcasts Bahasa Indonesia: Spotify | YouTube | Apple Podcasts Chinese: Spotify | YouTube | Apple Podcasts #Philippines #VentureCapital #Startup #Podcast #southeastasia #techpodcast