Malaysia's Petronas sets up $350m venture capital fund

Malaysia's Petronas sets up $350m venture capital fund

FILE PHOTO: A Petronas logo at their office in Kuala Lumpur, Malaysia August 15, 2017. REUTERS/Lai Seng Sin

Malaysia’s state energy firm Petronas said on Friday it had set up a $350 million venture capital arm for industrial and energy investments.

The newly launched Petronas Corporate Venture Capital will look to invest in startups in advanced materials, specialty chemicals as well as those involved in the future of energy, Petronas said in a statement.

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