US-based Kern Technology has acquired a controlling stake in Malaysia’s venture building accelerator Infinite Ventures. Following the transaction, Infinite will be re-branded as KERN Ventures which will act as an Asia-based private investment firm and accelerator.
Kern Ventures will focus on seeding high-technology startups across Asia Pacific, said a statement from Kern on Friday.
KERN Ventures will identify and nurture early stage businesses who operate in those high-technology markets that are usually less served by traditional investors.
Its main focus will be on providing consultancy, funding and strategy to startups in areas such as connected devices, commerce through IOT/wearables, mapping, augmented and virtual reality, fintech, green tech, and fashion, the statement added.
KERN Ventures’ portfolio includes JomSalmon, LocalUsher, Ittify, weSTYLEasia, and Job4Locum.
Kern added that it will continue to follow investment methodology previously implemented by Infinite Ventures. However, from 2017, they hope to expand operations to include a series of bespoke accelerator programmes aimed at different technology sectors. The first will be a 16-week programme for startups and entrepreneurs in the payments hardware space.
Other plans in the pipeline are dedicated fashion arm called FSquare, aimed at improving access to production, commercialisation, and technology to fashion designers across the region.
KERN Ventures will also be arranging regular developer-centric meetups and events across Asia.
“After two years of building Infinite Ventures, it’s a timely acquisition as it allows us to work on high tech startups in Southeast Asian. While all-purpose accelerators appear every day, Kern Ventures will strategically focus on previously underserved tech entrepreneurs and communities”, said KERN Ventures Director Sathyvelu Kunashegaran.
KERN Technologies provides innovative high-tech solutions to startups, small businesses, and enterprises alike from their regional headquarters in Kuala Lumpur.
Services include enterprise and solutions architecture, custom software development, systems integration, managed services and outsourcing, and technologies such as augmented reality, cloud computing, geospatial systems and IPTV.