Swiss company builder Mountain Partners is setting up a $100-million fund to invest in Southeast Asian startups. To tap the opportunities in the region, the firm is also establishing its operations hub in Malaysia.
This will see Mountain Partners helping more than 15 of its global portfolio companies expand into Malaysia, and create over 400 jobs including 50 top C-suite talent roles, a statement from Malaysia Digital Economy Corporation (MDEC) said on Thursday.
Additionally, there is also a partnership between private equity firm Leonie Hill Capital and Japan-based IP Bridge to see Malaysia as the home ground for venture building initiative targeting intellectual property-based tech startups in IoT, sensors and wearables, agri-tech and food-tech.
The partnership, through IP Bridge’s global expansion initiative, ManGO Factory, will also see the relocation of more than 10 Southeast Asian and Japanese startups to Malaysia, providing them with facilities, access and market opportunities in both countries.
“The strategic efforts placed by Mountain Partners, Leonie Hill Capital and IP Bridge will complement Malaysia’s initiatives in building a robust start-up ecosystem as Malaysia continues to provide regional and global startups the platform to scale in Southeast Asia,” said Datuk Yasmin Mahmood, CEO of MDEC.
MDEC also launched the Malaysia Digital HubTM initiative in April this year to further enrich Malaysia’s startup ecosystem. It is a place where startups and scale-ups co-exist with growth ecosystem players such as venture capitals, accelerators, anchor internet companies, talent builders and mentors.