Jun Hong Heng, a member and Chairman of our board of directors, Chief Executive Officer and Chief Financial Officer, is currently the Chief Investment Officer and Founder of Crescent Cove.
Jun started his career at Bear, Stearns & Co. in New York in a multi-disciplinary role across technology, media and telecommunications, mergers and acquisitions, and equity and debt capital markets. He next joined Morgan Stanley where he transitioned to focus on Asia. He subsequently joined Argyle Street Management, a spin-off from Goldman Sachs Asian Special Situations Group. In 2009, with the world emerging from the financial crisis, Jun worked on a variety of complex private deals in direct lending and distressed debt. He left Argyle to join the founding team of Myriad Asset Management, where he focused on Asian credit and equity, including special situations.
In 2016, Jun returned to the U.S. and launched Crescent Cove focusing on investing in the lower middle-market TMT sector. Soon, Jun began structuring creative financings for ambitious executives and fast-growing emerging businesses. Since then, Crescent Cove has grown steadily, raised multiple new funds, and completed several notable investments and exits. One of the Crescent Cove’s most notable exits occurred in 2020 when its portfolio investment, Luminar, completed its business combination with Gores Metropoulos, a premier SPAC sponsor, in December 2020. Crescent Cove was one of Luminar’s earliest and largest investors. Jun continues to work closely with Luminar’s 25-year-old founder and CEO Austin Russell to support the growth of Luminar.
K.V. Dhillon serves as COVA Acquisition Corp.’s President and Secretary and as a Director of the Company. He currently leads Crescent Cove’s business development. Prior to Crescent Cove, K.V. was the Managing Director and head of Guggenheim Capital Management Asia, where he was responsible for all business activities in the region including setting the firm’s strategic direction in Asia and delivering alternative investment solutions to global institutional investors. During his tenure, K.V.’s investment focus included management of the private equity and special situations portfolio, while leading the firm’s investment efforts into sovereign debt, infrastructure lending and distressed secondary private equity transactions. Previously, he was a partner at Thomas Weisel Partners, where he spearheaded the firm’s asset management and research operations in Asia and held a senior role in their domestic equity business.
Alvin Widarta Sariaatmadja is a Director of COVA Acquisition Corp. He is currently the Chief Executive Officer of PT Elang Mahkota Teknologi Tbk (“EMTEK”), a leading Indonesian group focused on the technology, media and healthcare sectors. EMTEK is one of the most prominent investors in the technology sector with leading investment in Bukalapak, one of the largest e-commerce companies in Indonesia; Dana, one of the leading e-wallet in partnership with Ant Financial; and Vidio, the leading OTT platform in Indonesia. EMTEK group’s media business includes PT Surya Citra Media Tbk, Indonesia’s biggest media company by market capitalization which currently consists of SCTV and Indosiar, the leading nationwide free-to-air channels in Indonesia with audiences in excess of 180 million viewers for more than 25 years. EMTEK also is one of the leaders in the healthcare sector with around 1,000 beds to date. Alvin’s passion to digitize the group’s business has led to a far reaching cultural and technological transformation across the group’s different businesses. Currently, Alvin also serves as Chairman of PT Surya Citra Media Tbk.
Pandu Sjahrir is a Director of COVA Acquisition Corp. He has served as a Managing Partner of Indies Capital Partners, a leading alternative asset manager focusing on Southeast Asia, since November 2017. He is also the Founding Partner of AC Ventures, an early-stage technology venture fund. Mr. Sjahrir served as a Managing Director in the Private Equity group at Abraaj Group, a private equity firm, from April 2015 to November 2017. Mr. Sjahrir has served as a board member of Go-Jek, a technology company since April 2017, and also serves on the boards of several other Indonesian investment companies, including Agaeti Ventures Partners Limited, East Capital Global Limited and PT TBS Energy Utama Tbk. He currently serves as a Commissioner of the Indonesia Stock Exchange, PT Shopee International Indonesia, PT Garena Indonesia, PT Airpay International Indonesia, PT Elang Mahkota Teknologi Tbk, PT Toba Bara Energi, and PT Batu Hitam Perkasa. He has also served as Chairman of SEA Indonesia since April 2017 and as Chairman of the Indonesian Coal Mining Association since September 2015. Previously, Mr. Sjahrir served as a Senior Analyst at MatlinPatterson and at Lehman Brothers. Mr. Sjahrir holds a B.A. in Economics from the University of Chicago, an M.B.A. from Stanford University and an Executive M.B.A. from Tsinghua University.
Jack Smith is a Director of COVA Acquisition Corp. He is a serial entrepreneur, investor, and advisor with a focus on identifying and nurturing early-stage startups. Jack has advised hundreds of early-stage startups and invested in over a hundred startups. He has experience as a board member of numerous startups and non-profits, including serving as the only external board member of The Hustle, a company that he helped coach from pre-inception to millions of dollars in annual revenue. Jack co-founded Vungle, a mobile advertising technology company, which raised just over $25 million in venture capital before being acquired by Blackstone in 2019 for more than $770 million.
Austin Russell serves as Senior Advisor to COVA Acquisition Corp. and is founder, president and CEO of Luminar, which went public via its business combination with a SPAC in December 2020. Mr. Russell began his career in the industry at age 11 by building prototype supercomputers and optoelectronic systems with real-world applications in mind. He wrote his first patent application at 12, and over the next four years worked on a host of photonics and imaging related technologies before he later became an independent researcher at the Beckman Laser Institute. After being recruited to Stanford for Applied Physics, he was awarded the Thiel Fellowship at 17 to pursue Luminar full-time with a vision to develop a new kind of sensing technology to make autonomous vehicles both safe and ubiquitous.