Malaysia’s Axiata Digital Innovation Fund (ADIF) has raised $2.31 million (MYR10 million) in investment from state-owned investment arm Johor Corporation (JCorp).
ADIF, that aims to fund local digital firms, is a partnership between Malaysian telecom firm Axiata Group and government owned venture capital vehicle Malaysia Venture Capital Management Bhd (Mavcap). It has a target fund size of $23.14 million (MYR 100 million).
