MAVCAP’s fund size hits $325.6m making it Malyasia’s largest VC firm

In a DSA file photograph, Mavcap chairman Rahim Hamid, Axiata chairman Azman Mokhtar, Mavcap CEO Jamaludin Bujang, Prime Minister Mohd Najib Abdul Razak, Axiata president and group CEO Jamaludin Ibrahim

Malaysia Venture Capital Management Bhds (MAVCAP) fund size has hit MYR1.4 billion ($325.58 million), making it the country’s largest venture capital firm, according to Science, Technology and Innovation Minister Wilfred Madius Tangau.

MAVCAP, a government-owned company, has invested in 225 technological start-up companies directly and through its 16 Outsource Partners (OSPs) since its establishment in 2001.

MAVCAP invests in four funds, the latest being the $50-million Gobi Fund III, in partnership with China-based Gobi Partners.

Last year, it launched the $30-million Axiata Digital Innovation Fund along side Axiata Bhd. This fund is managed by Intres Capital.

Another fund, managed by Silicon Valley-based Elixir Capital, is the ECM Straits Fund I which has offices in San Francisco, Kuala Lumpur and Jakarta.

MAVCAP also invests in collaboration with 500 Startups, in a fund called 500 Durians, focussed on Southeast Asia deals.

“The investment period is between five and 10 years, with the ultimate aim to enable the start-ups to be listed on Bursa Malaysia through an initial public offering (IPO), depending on the current market and economic conditions,” he was quoted in a national news agency, Bernama report.

Madius added that his ministry has invested in six electrical and electronics firms with committed investments totalling MYR50 million, noting that the government has been helping technological start-up companies since the Ninth Malaysia Plan, through the provision of funding, expertise and technology.

“The ministry’s agencies involved include Malaysia Technology Development Corporation (MTDC), Malaysian Biotechnology Corporation (Biotech Corp), SIRIM Bhd, MIMOS Bhd and Technology Park Malaysia (TPM),” he added.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.