Angel investor,
long-term partner.

Andrew was introduced to Matt by a friend in 2016. At that time, Andrew was still working on his previous startup, Ever Album. After meeting, Matt decided to invest. The investment was not only the beginning of their partnership, but also friendship. Over the past 5 years, they have had endless discussions over business ideas and life dreams. Today when they speak, they call each other “brother.” In late 2017, Andrew told Matt about his new startup idea, a D2C telehealth platform. Matt decided to back Andrew immediately, not only because the idea was brilliant, but because Andrew had proven himself an extraordinary founder before. With complete trust and overwhelming enthusiasm, Matt wrote the very first check for Hims, 10 months before all other first-tier investors joined. Because of the power of believing, Andrew built his dream and led Hims & Hers to become the iconic company it is today.

The world is increasingly chaotic and stressful, and our minds, like the other muscles in our body, need a fitness regime to stay healthy. Alex and Michael believe the power of meditation can help people around the world sleep more, stress less and live better. Their goal is simple: to make meditation easy and accessible to anyone.

Alex met Matt in 2014. Although Matt didn’t meditate actively himself, Alex made a lasting impression. Matt observed a “spark” in Alex when he passionately described why he believed Calm would change the world.

With over 100 million downloads and 4 million paying subscribers, Calm is now the world’s top wellness app as well as the first unicorn in the wellness space. Its valuation hit $2B in 2020. Most importantly, Calm has supported millions of users around the world, normalizing mental health and bringing inner peace to their daily lives.

Flexport is one of the first freight-forwarding companies to digitize international shipping, and tackle the trillion dollar freight industry. In an increasingly borderless and international world, Flexport has built the operating system for global trade.

When Matt met Flexport in 2014, the freight-forwarding industry was still run by traditional players, and the market wasn’t quite ready for new entrants. Nevertheless, Matt saw the potential in Flexport and Cherubic is proudly one their biggest and earliest investors. To Ryan, Matt is not only an investor, but a trustworthy confidant and close mentor. Matt is still Ryan’s first call when he needs a hand.

In 2019, Flexport completed its series D round of financing led by Softbank’s Vision Fund, increasing its valuation to $3.2 billion.

Paidy, a “Buy Now, Pay Later” platform based in Tokyo, is Cherubic’s first unicorn in Japan - they are also one of the few to reach this valuation in the entire Japanese market.

Starting with peer-to-peer lending, Paidy pivoted several times as the market evolved. It was never easy for the team to endure so much trial and error without losing faith! But Paidy pushed through the challenges and doubt they encountered to become what they are today.

In 2021, the market for “Buy Now, Pay Later” arrived! And Paidy was well positioned to participate. Soon after Affirm’s IPO and Square’s announcement to acquire Afterpay, the world-renowned payment giant Paypal announced it would acquire Paidy for $2.7B in September.

Japan is a market where consumers have long preferred cash over credit because of a cultural emphasis on frugality and privacy. Thus, Paidy’s success acquiring more than 6M users and becoming the biggest BNPL platform in Japan is not due to luck, but speaks to their tireless efforts to deeply understand their customer and find ways to tackle their pain points with precision.

In 2005, Matt, Happy (current CPO of 91APP) and Sean (current senior architect of 91APP) founded a tech company. Soon they realized that the market wasn’t what they expected it to be. So they embarked on a long process of trial and error. Unexpectedly, they built up a strong capability to create apps along the journey. Still, their business models weren’t materializing until they met Steven Ho, the “godfather of e-commerce” in Taiwan, and his team. Back then, Ho believed mobile devices would be the next battlefield for the e-commerce market.

The two companies combined their strengths and tech, merging to become 91APP in 2013. 91APP provided retail brands with a one-stop OMO (online-merge-offline) solution. In just 8 short years, 91APP applied to be listed on the Taiwan Stock Exchange in November 2020 and successfully IPOed in May 2021, becoming Taiwan’s first homegrown unicorn! As of November 2021, 91APP reached a $3B+ market cap.

Matt believes that finding the right people will eventually lead to the right market. Despite countless challenges encountered along the way, those who persist through the difficulties are those who succeed.

Tezign is a platform-based marketing and creative service supplier for large enterprises. It uses big data and intelligent matching technology to help clients optimize their product management processes.

Back in 2015, Fan Ling, founder of Tezign, witnessed the industry’s digital transformation and decided to start his own business. Introduced to us through another Cherubic portfolio, Liulishuo, Fan Ling pitched his business idea to Matt. At that time, supporting a businesses’ digital transformation wasn’t a trending idea, but Fan and team were able to seize the opportunity ahead of its time.

Today, Tezign has over 8,000 clients including Alibaba, Bytedance, Unilever, Shiseido, Bayer, Budweiser, and Nestle. In 2020, Tezign was chosen as the startup with the greatest potential by The Information, a Silicon Valley-based media outlet. And in November 2021, Tezign reached unicorn status after its Series D round led by Temasek. Other notable investors of Tezign include some of the best-known venture firms, such as Sequoia, Liner Capital, HEARST, and Unicorn Capital Partners.