Malaysia Venture Capital Management Bhd (MAVCAP) and Shanghai-based Gobi Partners‘ $200 million Asean Growth fund, which is among the largest vehicles in this region, has secured three big names in the technology space as anchor investors — German electronics firm Bosch, US tech giant Cisco and consumer goods firm Unilever.
This vehicle, called Meranti after the tallest known tree in the tropical rain forest, will focus on late-stage funding of technology-related growth stage companies in Malaysia and Southeast Asia.
A part of this fund is also being raised via crowdfunding platform Crowdo, and is open to “accredited investors and institutional investors” according to launch details seen on the platform by DEALSTREETASIA.
The investors were invited to participate at the same pricing terms that have been offered to Limited Partners earlier. Moreover, the information also noted that the investors will automatically get access to the 20 portfolio companies that were accumulated over a period of 18 months by the VC firm. Among the names are Crowdo, Carsome and others.
MAVCAP CEO Jamaludin Bujang had told this portal in an interaction in April that the first close of around $50 million for the Meranti fund would be announced soon.
This is not the only fund that is taking the crowdfunding route in the region. Dymon Asia Ventures, the venture capital arm of Singapore-based Dymon Asia Capital has also kicked off the process to raise a part of its $50-million debut fintech-focused fund on Singapore based private investment and crowdfunding platform Fundnel, this portal had reported earlier, quoting executives aware of the development.
Dymon had hit the first close of its debut fund at $20 million after it had bagged a significant investment from Digital Ventures, a fintech-focused firm under Thailand’s Siam Commercial Bank (SCB). The final close of the fund will be announced soon.
In an earlier interaction with the portal, Crowdo co-founder and CEO Leo Shimada had said, “Integration between Venture Capital and Crowdfunding Platform (CFP) is the future, and this development is already happening today…Through the partnership most investors benefit by gaining exposure to a greater number of handpicked startups who will then be managed by a professional VC fund until exit.”