ScaleUp Malaysia partners SG’s Quest Ventures to nurture local startups

Quest Ventures together with ScaleUp Malaysia partners at the ScaleUp Malaysia Cohort 2 Launch and Partnership Announcement. (From left) James Tan - Managing Partner, Quest Partners, Goh Yiping - Partner, Quest Partners, Jeffrey Seah - Partner, Quest Partners, Aaron Sarma - General Partner, ScaleUp Malaysia, Shanli Tay - Managing Partner, ScaleUp Malaysia, Dr. Sivapalan Vivekarajah - Senior Partner, ScaleUp Malaysia, Andre Sequerah - Managing Partner, ScaleUp Malaysia, Xelia Tong - Managing Partner, ScaleUp Malaysia, Renuka Sena - Senior Partner, ScaleUp Malaysia.

ScaleUp Malaysia, a country-focused accelerator, on Tuesday announced an exclusive partnership with Singapore-based venture capital firm Quest Ventures to invest and scale the regional growth of Malaysian startups.

The partnership with Quest Ventures will bring in foreign direct investment worth $1 million to develop and grow Malaysian startups, the company said in a statement. 

“To qualify for the programme, startups must be operating on business models that have the propensity to disrupt existing markets or have solutions that are able to navigate future challenges and take advantage of opportunities brought about by the current economic climate,” ScaleUp said in a statement.

Nearly 24 companies shortlisted for Cohort 2 will begin their accelerator journey in October 2020. And, nearly 12 companies from ScaleUp Malaysia Cohort 2, powered by Quest Ventures, will invest at least $60,250 each.

“Beyond the traditional investment role of VCs, we see it as our tech ecosystem duty to drive a speedier adoption of the digital economy,” Quest Ventures managing partner James Tan said, on the partnership. 

ScaleUp Malaysia launched its first cohort in December 2019 with 20 companies. About 10 startups received an investment of $48,283 each.

ScaleUp Malaysia senior partner Dr V. Sivapalan said, at the launch, “our focus is primarily on technology companies. As long as you are a technology company, technology creator, you should apply.”

 Tan said Quest Ventures would look at follow-on investments in companies in Cohort 2.

Earlier this year, Quest Ventures announced the first close of its venture capital fund named Asia Fund II after clinching support from Singapore’s Pavilion Capital a subsidiary of Singapore state investment firm Temasek Holdings Pte Ltd and QazTech Ventures. 

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.