Conglomerate Sunway helped establish venture capital vehicle Orbit Malaysia, which has secured the state-owned Mavcap as anchor investor.
Malaysia-headquartered conglomerate Sunway Group is launching a $25m venture capital fund with Indonesia-based investment firm Kejora Capital, DealStreetAsia reported on Wednesday, citing an official statement.
Orbit Malaysia fund will invest in startups developing agricultural, financial, education, e-commerce and healthcare technology at series A stage. It will primarily target Malaysia and wider Southeast Asia, and plans to help portfolio companies scale on an international level.
Government-backed venture capital firm Malaysia Venture Capital Management (Mavcap) is anchor investor for the vehicle, which is set to take advantage of Sunway Group and Mavcap’s networks to source deals.
Fernando Moncada Rivera
Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.
