PEGA ADVANCE×BTP
Investment Pitch · 2026
Strategic Investment Opportunity

BTP's ready-built foothold into Southeast Asia's US$570M contact lens market.

In under twelve months, Pega Advance has stood up PEGAVISION's on-the-ground presence across three Southeast Asian markets — 102 retail partners, 11,000+ boxes sold, and a brand that most Singapore optical shops now recognise. This pitch outlines a joint investment model that converts that momentum into BTP's regional headquarters.

Total Ask
SGD $700,000
Structure
Two Milestone Tranches
For
51% · Milestone-Gated
Horizon
PEGAVISION Top 10 in Asia
I · Executive Summary

The strategic case, in three lines.

BTP does not need to build Southeast Asia from scratch. Pega Advance has already done the hard part — local relationships, regulatory fluency, and a distribution engine that is live and growing.

01

A live, multi-country distribution engine.

102 retail partners across Singapore, Vietnam and Indonesia — generating ~1,200 boxes/month and compounding. Not a plan. A running business.

02

Twenty years of local market capital.

Our founding team has operated in Singapore's optical trade for two decades. That network is the moat — it cannot be cloned, bought off-the-shelf, or replicated from overseas.

03

A clean path to BTP's regional HQ.

Structured as a phased majority acquisition with a defined divestment window. By BTP's IPO, the platform is either fully owned or on a contractual path to full ownership.

Our Positioning
Pega Advance is not a distributor seeking capital. We are BTP's in-market operating partner — building the Southeast Asia foothold that becomes PEGAVISION's regional headquarters.
II · The Opportunity

Southeast Asia rewards local presence.

The regional contact lens market is expanding faster than global peers — but it is not a single market. Six fragmented economies, six regulatory regimes, six retail cultures. Winning requires feet on the ground, not headquarters memos.

§

Fragmentation is a moat — for incumbents.

Each SEA market has its own registration pathway, optical chain gatekeepers, and pricing norms. Foreign brands that try to operate remotely lose 18–24 months figuring out what locals already know.

Optical retail is still a relationship business.

Independent optical shops in Singapore, Ho Chi Minh City and Jakarta do not onboard brands through a website. They onboard through a salesperson they trust — someone who has been walking into their store for years.

Singapore is the listed-entity gateway.

For a company preparing for public markets, a Singapore-based operating subsidiary delivers disclosure-grade governance, a multi-currency banking stack, and a credible ASEAN anchor for institutional investors.

First-mover windows close quickly.

The same market that is open to Pega Advance today will be contested in 18 months by Korean and Japanese brands. The cost of entry rises every quarter we wait.

III · Why Pega Advance

What BTP buys with this investment.

This is not a bet on a plan — it is the acquisition of a running platform, a local network, and an operator team that has already proven it can execute.

1

A distribution network that took 20 years to build.

Our founders have been in the Singapore optical trade since the early 2000s. Every one of our 102 retail partnerships was signed on the strength of that relationship capital — not cold email, not paid channels.

2

Regional reach from day one.

In under a year, we have extended into Vietnam and Indonesia and seeded Hong Kong. Philippines is the next gate. No overseas brand has built this multi-country footprint on SGD $200K of seed capital.

3

A lean, fully operational team.

Five staff — Managing Director, Customer Service, two Sales, one Marketing — running the entire business at ~SGD $29K/month OPEX. Every dollar of BTP's capital goes to growth, not payroll catch-up.

4

Proven brand-build velocity.

PEGAVISION went from unknown to recognised-by-most-optical-shops in Singapore in under a year. That is the velocity metric that matters — and it is replicable in the next three markets.

IV · Traction to Date

Twelve months. Three countries. Compounding.

Every metric below is realised, not projected. This is what BTP's co-investment is building on.

102partners
Retail Footprint
Across Singapore, Vietnam, Indonesia
11,000boxes
Units Sold
Trailing to date, from a standing start
1,200/mo
Monthly Run-Rate
Current, pre-investment
20yrs
Founder Market Tenure
Singapore optical trade
Brand status — honestly stated. We are still relative newcomers in Singapore, and partner-count expansion is our primary near-term constraint. That is precisely what BTP's capital solves: converting brand awareness we already have into shelf space we do not yet have.
V · Growth Plan

From 102 to 300 retail partners — a 3x in 24 months.

The ramp is paced, regional, and underwritten by hiring we can do on Day 1 after BTP's investment.

Now — Q4 2026 Hit 180 partners · trigger BTP investment
Add 78 partners over 6 months in Singapore, Vietnam and Indonesia — the trajectory already implied by our current run-rate. Pega Advance crosses the 150-partner milestone that triggers BTP's SGD $200,000 capital injection and 51% acquisition.
2027 Hit 300 partners · enter Philippines
Scale to 300 retail partners with deeper Vietnam and Indonesia coverage, two additional Indonesia-based distributor partners, one additional Vietnam partner, and market entry into the Philippines — completing the ASEAN-6 priority footprint.
2027 — 2028 Scale sales volume · 5x to 12x lift
Target sales volume of 6,000 to 15,000 boxes/month — a 5x to 12x lift on today's run-rate, driven by partner-count growth, BTP's financial firepower for marketing, and potential acquisition of complementary eyewear firms in-region.
Team Expansion (Post-Investment) +2 sales, +1 admin — immediate deployment
BTP's capital enables us to expand sales capacity from two to four full-time sales staff and add dedicated admin support. Partner acquisition velocity roughly doubles from the moment the hire is made.
VI · BD Growth Strategy

The system behind 300 partners.

Three compounding BD engines — acquire new partners, develop existing ones, expand into new markets. Each engine has dedicated capital, a named programme, and measurable quarterly KPIs.

Acquire

New partner logos
  • Direct field sales: 2 dedicated reps post-investment, each targeting 8–10 new sign-ons per month via cold call → trial → onboard funnel
  • Referral programme: existing partners who refer a new account unlock a one-time volume rebate on their next order
  • Chain account targeting: pitch to Spectacle Hut, Capitol Optical, Nanyang Optical — one chain deal opens 10–30 doors simultaneously
  • Trade association presence: Singapore Optometric Association, Vietnam Optical Trade bodies — booth presence at key industry events
  • 30-day trial kit: remove sign-on friction by letting new partners trial stock at zero upfront cost — conversion rate target 70%+

Develop

ARPU acceleration via VISTA
  • VISTA loyalty programme: tiered volume incentives (Focus → Clarity → Vision → Luminary) with quarterly rebates and co-op marketing funds
  • SKU ladder: onboard partners at core spherical lenses → upsell to premium daily disposables → introduce coloured/cosmetic range (2–3× ASP lift)
  • Optician training: quarterly in-store sessions — trained opticians convert 40% more new patients to contact lenses
  • Seasonal campaign kits: CNY, Hari Raya, Christmas gifting push — co-branded point-of-sale materials bundled with margin incentive
  • Partner portal: real-time inventory, VISTA points dashboard, easy reorder — reduces friction, increases order frequency

Expand

New geographies
  • Indonesia: deepen via Optik Melawai and Optik Seis chain partnerships — bridge from chain to independent rollout
  • Vietnam: HCMC hub operational; expand to Hanoi corridor in 2026 — tap Vietnam's beauty retail boom (TikTok-driven cosmetic lens demand)
  • Philippines 2027: enter via master distributor → direct at 50+ partner milestone
  • Hong Kong 2027: premium positioning, higher ASP — leverage Optical 88 chain network (200+ doors across HK/SG/TH/MY)
  • M&A pipeline: BTP capital enables opportunistic acquisition of local distributors to fast-track market entry
Partner Loyalty Programme
VISTA
Vision Incentive & Strategic Trade Alliance

A structured quarterly partner programme designed to convert occasional stockists into dedicated brand champions — with volume rebates, co-op marketing funds, exclusive SKU access, and tiered recognition that rewards partners who grow with us.

Target ARPU lift over 36 months
Q1
VISTA launches post-BTP investment
4
Tiers: Focus → Clarity → Vision → Luminary
8%
Max volume rebate (Luminary tier)
Focus
15–29 boxes / month
  • POS display kit & brand assets
  • Quarterly sales training
  • Co-branded social media content
2% volume rebate
Clarity
30–59 boxes / month
  • Everything in Focus
  • SGD $200 co-op fund / quarter
  • Priority stock allocation
  • Monthly performance report
4% volume rebate
Vision
60–119 boxes / month
  • Everything in Clarity
  • SGD $500 co-op fund / quarter
  • Exclusive coloured lens SKU access
  • Dedicated account manager
  • Optician certification programme
6% volume rebate
Luminary
120+ boxes / month
  • Everything in Vision
  • SGD $1,000 co-op fund / quarter
  • Co-funded in-store launch events
  • Featured partner marketing
  • Early access to new product lines
  • Annual Luminary Summit invitation
8% volume rebate
Market-by-Market Expansion

Five markets. One sequenced playbook.

🇸🇬
Singapore
Live · Core

600–800 outlets. Deepen to 200+ partners. Chain account push (Spectacle Hut, Nanyang, Capitol). VISTA launch anchored here.

🇻🇳
Vietnam
Live · Expanding

HCMC operational. Hanoi rollout 2026. Beauty retail boom + TikTok cosmetic lens demand — highest coloured lens upside in SEA.

🇮🇩
Indonesia
Live · Deepening

3,000+ outlets. Chain entry via Optik Melawai & Optik Seis. Two new sub-distributor partners planned for 2026.

🇵🇭
Philippines

500+ outlets. Master distributor first → direct at 50 partners. Vision Express (80+ doors) is the priority chain target.

🇭🇰
Hong Kong

Premium positioning. Higher ASP market. Optical 88 network (200+ doors across HK/SG/TH/MY) as anchor chain partner.

Digital BD layer (post-investment): A lightweight B2B partner portal — real-time inventory visibility, VISTA points tracking, one-click reorder, and co-op fund redemption. Reduces average reorder cycle from 3–4 weeks to 1 week and increases order frequency per partner. Funded from BTP's capital; estimated build cost SGD $25–40K.
VII · 36-Month Projection

From SGD $260K to SGD $4.1M ARR. Three scenarios.

Each capital use BTP funds maps to a measurable lever in the model below. Base Case is our internal stated target; Conservative and Bull bracket the range. All figures SGD, monthly run-rate revenue.

Conservative
$2.8M
Exit ARR · Month 36
260 retail partners SGD $900 ARPU ~70% gross margin ~38% EBITDA margin Y3
Base · Stated Target
$4.1M
Exit ARR · Month 36
320 retail partners SGD $1,060 ARPU ~70% gross margin ~45% EBITDA margin Y3
Bull
$5.3M
Exit ARR · Month 36
370 retail partners SGD $1,200 ARPU ~70% gross margin ~50% EBITDA margin Y3
Monthly Revenue TrajectorySGD, all three scenarios
$0 $100K $200K $300K $400K $500K $600K $700K M0 M6 M12 M24 M36 Apr 2026 Apr 2027 Apr 2028 Apr 2029 ↳ BTP TRIGGER · 150 PARTNERS $234K $339K $444K
Conservative Base · Stated Target Bull
Annual P&L Summary — Base Case (SGD, '000s)
Line Item Year 1 Year 2 Year 3 3-Yr Cumulative
Top-Line
Retail Partners (year-end)195280320
ARPU (SGD/partner/month, year-end)$500$780$1,060
Boxes/month (year-end)5,40012,10018,800
Annual Revenue$715$1,893$3,342$5,950
Margin
Gross Margin %70%70%70%
Gross Profit$501$1,325$2,339$4,165
Operating Costs
Payroll (avg)$300$420$540$1,260
Marketing$60$140$200$400
Rent + G&A$60$80$100$240
Total OPEX$420$640$840$1,900
Bottom-Line
EBITDA$81$685$1,499$2,265
EBITDA Margin %11%36%45%
Exit ARR (Month 36)$4,070
At 70% gross margin, the business is EBITDA positive from Year 1 without requiring BTP capital to survive — BTP's SGD $700K accelerates growth, not solvency. No further capital raises required to hit Year 3 plan.
Capital → Lever Mapping

Each line of BTP capital pulls one of three levers.

Lever 1 · ARPU

From $212 to $1,060 per partner / month.

$212 $1,060 (5×)

Five compounding strategies: (1) tiered loyalty programme — volume incentives unlock co-op marketing for top partners; (2) SKU expansion into coloured/cosmetic lenses (higher ASP); (3) monthly-to-daily conversion drives box count per patient; (4) in-store optician training increases new contact lens prescriptions; (5) quarterly partner targets with performance rebates. Funded by: ~30% of BTP capital.

Lever 2 · Partners

From 102 to 320 retail partners.

102 320 (3.1×)

+2 sales hires immediately, Philippines entry in 2027, deeper Indonesia/Vietnam coverage. Funded by: sales payroll (~40% of BTP capital) + Philippines market entry costs.

Lever 3 · Margin

70% gross margin — protect and extend.

70% GM 71–72%

Strong 70% baseline is defended via regional 3PL consolidation (HCMC or Jakarta hub), container-load inbound vs. air freight, and own bonded warehouse — squeezing logistics cost further. Funded by: logistics capex (~20% of BTP capital).

BTP Capital In
SGD $200K
Single tranche, milestone-gated at 150 partners. No further capital required.
Year 3 EBITDA (Base)
SGD $1.5M
45% EBITDA margin. Profitable from Year 1 — BTP's capital accelerates growth, not survival.
Exit ARR · Month 36 (Base)
SGD $4.1M
51% of a SGD $4.1M-ARR, EBITDA-positive business — valued on BTP's own terms at IPO.
Assumptions: SGD $18 wholesale per box · 70% gross margin (stable; potential +1–2pp uplift from logistics consolidation) · Base ARPU ramp: $212 → $500 (end 2026) → $780 (end 2027) → $1,060 (end 2028), a 5× lift driven by VISTA programme, SKU expansion, and partner incentive targets · linear interpolation between milestone months · OPEX trajectory: $29K/mo today → $70K/mo by Year 3 · Conservative and Bull cases bracket ±30% of Base exit ARR · cumulative figures sum across Years 1–3. Illustrative model — final commercial terms subject to due diligence.
VIII · Investment Structure

Two tranches. Two milestones. Full alignment.

BTP's capital deploys in performance-gated tranches — no capital at risk until Pega Advance has proven the thesis. Each tranche unlocks the next growth phase.

Pre-Money Valuation
SGD $1,000,000
4× current ARR of SGD $260K — justified by 3-country network & 20-yr relationship capital
Total BTP Investment
SGD $700,000
$400K Tranche 1 + $300K Tranche 2 — deployed across two milestones
BTP Stake (post T2)
51% Majority
30% at T1 trigger + 21% at T2 trigger — board control secured at T2
Tranche 1 · First Milestone

SGD $400,000

30% stake · Implied post-money SGD $1.33M
Trigger: Pega Advance reaches 150 retail partners.

Deploys immediately upon trigger — no further due diligence gate. Capital funds +2 sales hires, VISTA programme launch, marketing push to accelerate ARPU from $212 toward $500 by year-end 2026.
Tranche 2 · Growth Milestone

SGD $300,000

21% stake · BTP reaches 51% majority
Trigger: Pega Advance reaches 250 retail partners.

Funds Philippines market entry, Indonesia & Vietnam deepening, optional ASEAN HQ rebrand, and M&A pipeline for complementary eyewear firm acquisitions in-region.
Founder Stake
Pega Advance retains 49% — preserving founder incentive and local operating knowledge through the scale-up phase.
BTP Control Rights
From Tranche 1: rights to deploy BTP staff into operations and provide strategic direction. At Tranche 2 (51%): board control, option to rebrand entity as BTP's ASEAN regional headquarters.
Pre-IPO Buyout Option
BTP retains the right to acquire Pega Advance's remaining 49% at fair market value prior to BTP going public — providing a clean path to full ownership with agreed valuation methodology.
Capital Deployment
Growth-only: ~40% sales & operations hiring · ~30% VISTA programme & marketing · ~20% logistics & partner portal · ~10% M&A reserve
IX · Partnership Lifecycle

From distributor to regional HQ to full ownership.

A clear, contractual path from first dollar to complete integration — with the divestment mechanism pre-agreed so there is no ambiguity at IPO.

Stage I
Tranche 1 · 150 Partners

BTP invests SGD $400K for 30%. VISTA programme launches. ARPU push to SGD $500 by year-end 2026.

Stage II
Tranche 2 · 250 Partners

BTP invests SGD $300K for further 21% — reaching 51% majority. Philippines entry. Optional ASEAN HQ rebrand.

Stage III
BTP IPO

BTP may acquire remaining 49% at fair market value pre-IPO. Or Pega Advance retains up to 20% stake post-listing.

Stage IV
Full Divestment

Two years post-IPO, Pega Advance may fully divest to BTP. Clean, pre-agreed exit for both sides.

Why this structure is rare. Most distribution partners hold out for a premium or resist control transfer. Pega Advance pre-commits to both — because PEGAVISION as a top-10 Asia brand is worth more than short-term dilution arbitrage. The two-tranche structure means BTP's risk is staged and Pega Advance is incentivised to hit each milestone fast.
X · The Endgame

Together, PEGAVISION becomes a top-10 brand in Asia.

BTP brings the product, the manufacturing depth, and the capital. Pega Advance brings the relationships, the in-market operating team, and the execution velocity. Neither side can reach top-10 Asia alone inside this decade. Together, the path is visible, the milestones are defined, and the exit is pre-structured.

Pega Advance's Responsibilities

Drive Southeast Asia growth — expand retail partner count, build shelf penetration, execute regional operations. Transition to BTP-only retail focus following investment.

BTP's Responsibilities

Provide growth capital, marketing support, and product supply. Integrate Pega Advance as ASEAN regional headquarters. Deploy BTP expertise into joint operations.