VentureTECH announced the launch of a private equity co-investment fund of RM75 million for growth stage technology companies with its foreign partner, Japan’s SBI Ventures Malaysia, following the landmark signing of a Joint Venture (JV) investment agreement to provide an additional source of foreign funds into Malaysia from a global private equity firm.
The fund is designed to play a strategic role in supporting local and Bumiputera companies in the high value-added and emerging industry market segments to scale up to their full potential, and help attract additional investors to support the expansion of these companies during this economic recovery period.
The strategic partnering with Japan’s SBI Ventures Malaysia, a reputable regional private equity player, is important in helping Malaysian industries build synergies and collaboration at the regional level, and in continuing to support their long-term growth as they strive to continue to scale up and compete in both the Malaysian and global markets.
The Agreement for the establishment of VentureTECH–SBI JV was signed between VentureTECH’s Managing Director, Dr Norida Abd Rahman and SBI Ventures Malaysia’s Managing Director, Mr Yoshihiro Ishiwata, witnessed by the Minister in the Prime Minister’s Department (Economy), Dato’ Sri Mustapa Mohamed, Tan Sri Datuk Dr Ir. Ahmad Tajuddin Ali, Chairman of Malaysian Industry-Government Group for High Technology (MIGHT), Minister Kaname Araki, Minister of Embassy of Japan & Deputy Chief of Mission, Prof. Datin Paduka Dr. Khatijah Yusoff, Independent Director, VentureTECH, and Datuk Dr. Mohd Yusoff Sulaiman, CEO of MIGHT.