Malaysia-based private investment firm RHL Ventures has launched an accelerator programme for local businesses while Australian social enterprise ATEC* Biodigesters (ATEC*) has raised $1.6 million in a Series B equity round.
RHL Ventures launches new accelerator programme
Malaysia-based private investment firm RHL Ventures has announced the launch of an accelerator programme to identify and scale Malaysian businesses dealing in emerging technologies.
According to RHL Ventures managing partner Rachel Lau, the new accelerator programme underlines the firm’s stronger refocusing of efforts to grow the local entrepreneurial and investment ecosystem along more sustainable lines.
“With Malaysia’s innovation landscape now being more vibrant and dynamic than ever before, we are looking forward to identify and work with the country’s best and most forward-thinking businesses – helping them to scale their innovations and grow them to become local and global champions,” she added.
Founded in 2016, RHL Ventures, a multi-family private investment firm, earlier this year announced that it would raise a RM100 million fund to support the growth of local SMEs.
Australia’s ATEC* Biodigesters secures $1.6m Series B
Australian social enterprise ATEC* Biodigesters (ATEC*) has raised $1.6 million in a Series B equity round led by ENGIE Rassembleurs d’Energies and including Fondation Ensemble, the IIX Growth Fund, and Phitrust Asia.
The company, which is the first globally to integrate PAYGO (pay-as-you-go) with biodigesters, will use the fund to expand its operations from Cambodia to Bangladesh.
ATEC’s unique household biodigester technology was founded and developed for specific application in seasonally-flooded countries such as Cambodia, Bangladesh, Myanmar, and Indonesia.
“At IIX we believe that climate resilience begins by empowering our most vulnerable communities. Having worked in partnership with ATEC* since 2016, we’re excited to see how a commitment to deep social and environmental impact in Asia can drive innovation and sustainability, while generating a financial return for impact investors,” said Robert Kraybill, IIX Chief Investment Officer and Managing Director.
According to IIX’s impact assessment, ATEC’s PAYGO model will enable 7,500 households to access clean energy, reduce exposure to indoor air pollution, free up over 3 hours per day per household—primarily for women—from basic cooking and fuel needs, and avoid 33,000 metric tons of carbon emissions per year.