William Chu
About William Chu
William Chu, 51, is an independent director of Keen Vision Acquisition Corporation (KVAC). He is an entrepreneur and investor with extensive experience across venture capital and technology, and holds a B.A. in East Asian Studies from Harvard University . He stood for election to KVAC’s one-year board term at the October 24, 2024 annual meeting and is classified by the Board as an independent director under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Zheng He Capital | Executive roles leading investments (e.g., Ping An Good Doctor, Lufax) | Not disclosed | Led notable China fintech/health tech investments |
| Lawman Group International | Managed family business | Not disclosed | Brand management initiatives |
| Lawman Sportswear Inc. | Owner and President | Not disclosed | Repositioned Lawman brand in China; launched Petrol denim in U.S. |
| Booz-Allen & Hamilton | Early career | Not disclosed | Strategy/consulting foundation |
| Merrill Lynch; Wit Soundview | Professional roles | Not disclosed | Investment banking/equity research exposure |
External Roles
| Organization | Role | Geography | Committees/Impact |
|---|---|---|---|
| SparkLabs (Hong Kong) Management Ltd | Director | Hong Kong | Led partnership with Ping An Group to launch Ping An Cloud Accelerator (fintech/health tech/smart cities) |
| SparkLabs Saudi Arabia Fund I | General Partner | Saudi Arabia | VC fund leadership |
| SparkLabs Pakistan Fund I | General Partner | Pakistan | VC fund leadership |
| SparkLabs Global Ventures Fund II | Venture Partner | Global | Investment sourcing and portfolio support |
| Spark I Acquisition Corp (SPAC) | Consultant | Not disclosed | Strategic planning, diligence, deal structuring adviser |
| Lawman International Limited | Vice President | Not disclosed | Oversees property management |
Board Governance
- Independence: The Board determined that William Chu is independent; only the CEO (Kenneth Wong) and CFO (Alex Davidkhanian) are non-independent .
- Committee assignments (FY2023): Audit, Compensation, and Nominating Committees comprised independent directors; members disclosed were Ding, Prof. Ronald Adolphus Li, and Yu. Chu was not listed as a member of these committees for FY2023 .
- Nominations process: In addition to the standing Nominating Committee, the Board disclosed that independent directors Ding, Chu, and Yu may recommend director nominees, consistent with Nasdaq Rule 5605(e) .
- Attendance/engagement (FY2023): The Board held no meetings (actions by written consent); the Audit, Compensation, and Nominating Committees also held no meetings in FY2023. This limits measurable attendance and may indicate low formal engagement in the pre-combination period .
- Years of service: One-year director terms; Chu stood for election for the 2024–2025 term at the Oct 24, 2024 AGM .
- Lead Independent Director/executive sessions: Not disclosed .
Fixed Compensation
| Component | Amount/Terms | Notes |
|---|---|---|
| Director cash retainer | $0 | KVAC pays no director or officer compensation prior to the initial business combination; only expense reimbursement . |
| Meeting fees | $0 | No fees disclosed for meetings; no meetings held in FY2023 . |
| Equity (RSUs/Options/DSUs) | $0 | No director equity awards prior to business combination . |
| Other | Expense reimbursement only | Out-of-pocket costs reimbursable; no cap disclosed . |
Performance Compensation
| Performance Metric | Target | Measurement Period | Status |
|---|---|---|---|
| None disclosed/applicable prior to business combination | N/A | N/A | KVAC does not pay performance-based compensation to directors prior to the de-SPAC transaction . |
Other Directorships & Interlocks
- Public company directorships: None disclosed for Chu in the proxy; he consults to Spark I Acquisition Corp (SPAC) but is not disclosed as a director there .
- Potential interlocks/conflicts: Concurrent advisory/GP roles across multiple SparkLabs vehicles and SPAC consultancy could raise deal-allocation optics in the SPAC ecosystem; KVAC’s related-party policy routes such matters to the Audit Committee for review/ratification as appropriate .
Expertise & Qualifications
- Venture capital and accelerator leadership across Asia and Middle East (SparkLabs group roles) .
- Fintech/health tech/smart cities domain exposure; led Ping An Cloud Accelerator partnership .
- China-focused private equity deal experience (Zheng He Capital) .
- Consumer brand and operating experience (Lawman Group; Lawman Sportswear) .
- Education: B.A., East Asian Studies, Harvard University .
Equity Ownership
| Holder | As of Record Date | Shares Beneficially Owned | % Outstanding |
|---|---|---|---|
| William Chu | Sep 26, 2024 | 20,000 | <1% |
| William Chu | Jun 27, 2025 | 20,000 | <1% |
- Vested vs unvested; options; in-the-money value: Not disclosed in proxy for directors .
- Pledging/hedging: No pledging disclosures identified for Chu in the beneficial ownership tables .
Governance Assessment
Strengths
- Independent status with cross-border venture and operating experience useful for target evaluation and post-merger value creation .
- Participation by independent directors (including Chu) in recommending nominees supports Board refreshment without management control of the process .
- Robust related-party transaction review framework disclosed (Audit Committee oversight) to mitigate conflicts inherent in SPAC structures .
Watch items and RED FLAGS
- RED FLAG: No Board or committee meetings in FY2023 (actions by written consent). While common in SPAC pre-deal phases, a lack of formal meetings reduces observable oversight and engagement metrics and may concern some governance-focused investors .
- RED FLAG: High sponsor ownership and control (sponsor group owned ~39.5% as of June 27, 2025), plus ongoing $10,000/month administrative services fee to sponsor and repeated sponsor loans to fund deadline extensions, underscore structural conflicts; independent directors must actively oversee fairness and related-party terms .
- Deal timing/regulatory risk: Company disclosures highlight potential CFIUS review challenges and “investment company” risk if timelines extend; Board (including independent directors) should maintain active risk oversight as these can materially affect transaction feasibility and timelines .
Related-Party and Structural Considerations
- Administrative Services Agreement: $10,000 per month to an affiliate of the sponsor for office/support services .
- Sponsor financing: Multiple unsecured promissory notes issued to the sponsor to fund monthly trust extensions (e.g., Oct 2024–Jun 2025 notes) .
- Beneficial ownership concentration increased post-redemptions and extensions, magnifying sponsor influence over outcomes and heightening the need for rigorous independent director challenge and disclosure .
Notes on Director Compensation and Say-on-Pay
- KVAC does not compensate directors prior to a business combination, and therefore there is no say‑on‑pay history or peer benchmarking for director or NEO pay at this stage. Any post‑combination compensation would be determined by the board of the combined company and disclosed at that time .
Attendance and Tenure Disclosure
- FY2023 Board/committee meetings: 0; actions were taken by written consent (no individual attendance rates provided). Director terms are one year; Chu stood for election at the Oct 24, 2024 AGM .