Malaysia Venture Capital and Private Equity Association (MVCA) has become a part of a larger regional network, the ASEAN Venture Council (AVC), a move that is set to boost networking between Limited Partners, General Partners and entrepreneurs across the region.
The agreement to include MVCA into AVC was signed between MVCA Chairman Shahril Anwar Mohd Yunos and AVC representative Dr Jeffrey Chi at the ASEAN Venture Summit in Kuala Lumpur on Tuesday.
Malaysia’s participation comes at a time when regional venture investments more than doubled from $1.3 billion in 2015 to more than $3 billion in 2016.
The Council, originally initiated by the Singapore Venture Capital & Private Equity Association, now consists of four participating organisations – Singapore, Indonesia, Thailand and Malaysia.
The AVC’s mission is to allow its parent associations, who broadly promote alternative investing to leverage on the strength of one another specifically in the promotion of the venture capital industry regionally.
The AVC will continue to work with the other ASEAN countries as well as their industry players that do not yet have an industry association.
“The inclusion will open up communications with Limited Partners, General Partners and entrepreneurs across respective countries and provide an effective platform for fundraising, investment syndication and exit opportunities,” MVCA Chairman Shahril Anwar Mohd Yunos said at the time of signing.
The ASEAN Venture Council will be a special VC focused platform sponsored by venture capital and private equity associations.
It is intended to drive development of the venture capital industry in a more concerted effort across the region leveraging each other’s strengths and capabilities – particularly leveraging each other’s strengths and capabilities – particularly in the areas of events, advocacy, research, education and deal flow.