Denis Tse

Denis completed his MBA at INSEAD in France and Singapore and graduated, with Honors, from Northwestern University.

Denis T. Tse is the Chief Executive Officer of Asia-IO Advisors Limited (“Asia-IO”), an industrial technology-focused cross-border private equity firm he founded in 2015, with offices in Singapore, Dubai and Hong Kong.  Prominent investments include: acquiring leading co-packaged optics (CPO) assembly equipment provider ADST; providing seed capital to Jaguar Microsystems, a Chinese semiconductor design unicorn (A-share IPO filing in 2026); buyout of Source Photonics (acquired by DSBJ in 2025); carving out Advanced Assembly Materials International from ASMPT (acquired by Shenzhen Original Advanced Compounds in 2025); funding the management buyout of Cloud Light Technology from TDK (acquired by Lumentum in 2023); and forming HMD Global, a European unicorn, to take over the Nokia handset business.

​

Prior to Asia-IO, Denis was Head of Asia – Private Investments with Lockheed Martin Investment Management Company, during which he was named “40 under 40” by Chief Investment Officer in 2014 and “25 Most Influential People in Asia Private Equity” by Asian Investor in 2013.  Earlier in his investment career, Denis held direct and fund investment roles with firms including Piper Jaffray Ventures, J.H. Whitney, and HSBC Private Equity (Asia), where he was the first Kauffman Fellow from an Asian venture firm (2005-2007).  Denis was also a co-founder with Acasia Technology, an early incubatee of Hong Kong Applied Science & Technology Research Institute (“ASTRI”) that was acquired by SAE Magnetics in 2004.

​

Denis obtained a BSc (Hon.) in Economics and Learning & Organizational Change from Northwestern University and an MBA from INSEAD.  He was a resident intern scholar with Center for Strategic & International Studies, and currently serves on the China Leadership Board of the School of Global Policy & Strategy at University of California – San Diego and the Board of Advisors of the School of Education & Social Policy at Northwestern University.  Denis has been a Justice of the Peace in Hong Kong since 2020, and was a member of the Advisory Council on Innovation & Technology with the Hong Kong SAR Government in 2015-2017.        

Denis is a member of Fellows Class 10 and served his fellowship under mentor Marcus Thompson at HSBC Private Equity (Asia) in Hong Kong.