Elice Ongko (Jakarta, 2019-21), an investor at B Capital, has spent her career learning when to trust the numbers and when to trust her gut. In this Q&A, she talks about making calls before the answers arrive, backing founders who chase truth over ego, and holding onto the one habit that travels everywhere: the willingness to speak up when the room would rather she didn't.
Forbes recognized you as one of Asia’s young leaders in finance and venture capital. What did that moment mean to you—not as a headline, but as a personal milestone?
Personally, the recognition made me reflect on the compounding impact of the people and experiences that shaped my journey. From my family and friends who have always believed in me, to mentors, managers, colleagues, clients, and the opportunities I had at places like McKinsey, every chapter has contributed in ways that only became clear in hindsight.
If you had told me a decade ago that I’d be recognized by Forbes, it would have felt entirely out of reach. Today is a powerful reminder that some of the goals that feel far-fetched today may simply be tomorrow’s milestones. That thought excites me most because it reminds me that the best is still yet to come.
In venture investing, you’re often betting before the answer is obvious. How has your consulting toolkit helped you make calls in uncertainty?
McKinsey gave me a way of thinking that I still rely on every day. It taught me to break down complex problems into first principles, ask better questions, form hypotheses, and stay intellectually rigorous. As an investor looking across different sectors, that helps me quickly identify what truly matters in a business and whether its fundamentals can stand the test of time.
The biggest mindset I had to unlearn is the instinct to eliminate every risk. In venture capital, you don’t need to be right every time. One exceptional investment can outweigh many misses. That shift has taught me to pair analytical rigor with judgment, and to be comfortable making decisions before every variable is known.
As an investor, what qualities in an entrepreneur make you think, “This person can build something enduring”?
Honestly, I've been chasing the answer to this in the last four years of investing. The truth is there isn't a single founder archetype. Some of the best entrepreneurs I’ve met couldn’t be more different in personality, background, or leadership style. If anything, the experience has made me appreciate just how hard it is to build an enduring company.
But when I look across founders who have built great companies, I do notice a few common threads. They tend to be intellectually honest: they seek the truth over protecting their ego, have the humility to change their minds when the facts change, and actively invite perspectives that challenge their own. Just as importantly, they have an extraordinary ability to attract exceptional people. Whether it's hiring world-class talent, earning the trust of customers, or bringing investors along for the journey, the best founders create a belief that extends far beyond the product itself.
I’m still learning what makes a truly exceptional founder, and I suspect I always will. Every investment challenges what I thought I knew, which is probably what makes venture investing so fascinating.
What specific McKinsey experience, habit, or relationship still shows up in how you work today?
The Firm was an incredible launchpad. Looking back, McKinsey didn’t just equip me with problem-solving skills, it fundamentally shaped how I think and how I show up as a leader.
One lesson that has stayed with me is the Firm’s value of obligation to dissent. Early on, I learned that the best ideas aren’t driven by hierarchy, but by thoughtful debate. As a young consultant, I was encouraged to respectfully challenge perspectives even those of senior leaders if I believed there was a better answer.
That mindset is exactly what I carry into startup boardrooms today, where the difficult conversations are often the most critical. Whether navigating a business pivot or an investment decision, I’m not afraid to ask hard questions or offer a counter-perspective. For someone still relatively early in my career, that foundation has been invaluable for earning trust and contributing meaningfully.
Beyond the work itself, the relationships have been just as lasting. Some of my closest friends today are people I met at McKinsey, and wherever I go, meeting a fellow alumnus or former client instantly feels like reconnecting with family. It’s a community I’m incredibly grateful to be part of.
