Malaysia’s sovereign and pension funds have jointly pooled in $250 million towards a tech-focused ‘fund of funds’ to make co-investments in fledgeling local companies. The corpus will be allocated to local and international venture capital firms that have a physical presence in the country, a top executive with a government-linked agency told this portal.
“In the past, the likes of Khazanah and KWAP have been investing directly into companies but this fund of funds (FoF) is to get them to co-invest as limited partners through venture capital management companies that are registered here,” Malaysia Digital Economy Corporation (MDEC) CEO Dato’ Yasmin Mahmood told DEALSTREETASIA in an interaction. The country is targeting to assign this $250 million to VCs in calendar year 2018, she added.
