MAVCAP set to hit $50m first close for Meranti Fund, Elixir-partnered Islamic Fund

MAVCAP set to hit $50m first close for Meranti Fund, Elixir-partnered Islamic Fund

Malaysia Venture Capital Management Bhd (MAVCAP) plans to announce a $50 million first close for two of its funds that will be launched this year — Asean Growth Fund (Meranti Fund) and Global Islamic Economy Fund, and the combined size of the two vehicles will be about $450 million, a top executive with the government-owned venture capital firm told this portal in an interaction.

MAVCAP, whose model involves partnering established VCs is currently on the road raising money, and is on track to hit the first close for the $200 million Asean Growth Fund, a vehicle it is jointly launching with China-based Gobi Partners, MAVCAP CEO Jamaludin Bujang told DEALSTREETASIA in an interaction.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter