After graduating from Stanford University — right in the beating heart of Silicon Valley — classmates Hendrick Lee and Seamon Chan could have made careers as tech investors putting money into local companies. They decided to venture beyond the valley. Based in New York, Palm Drive Capital bets on startups from Hong Kong to Hoboken, New Jersey. Some of its investments build software for customers in overlooked markets. Lee and Chan say they've avoided the "bidding wars" for access to the hottest startups in the Bay Area.