The fund created by Axiata and government-owned fund Mavcap, has already committed a total of $3m and expects to provide follow-on funding.
Axiata Digital Innovation Fund (ADIF), an investment vehicle set up telecommunications firm Axiata and government-owned venture firm Malaysia Venture Capital Management (Mavcap) has backed six startups, Tech in Asia reported on Friday.
ADIF committed Rg 12.5m ($3m) in total, without disclosing the exact amount invested in each company. However, the fund revealed it expects to provide follow-on funding for each startup and eventually supply up to $1m for each.
The six Malaysia-based startups are virtual outsourcing tool Supahands, curated news…
