Malaysian investment firm VentureTECH has invested 15 million ringgit ($3.5 million) in two companies, while Singapore-based hospitality firm K Hospitality Pte Ltd (K Hotel) has raised S$2 million ($1.4 million) in a seed funding round.
Malaysia’s VentureTECH invests $3.5m in two companies
Malaysia’s state-linked strategic investment company VentureTECH Sdn Bhd has invested 15 million ringgit ($3.5 million) in TXMR Sdn Bhd and ACME Chemicals (M) Sdn Bhd, according to an announcement.
TXMR is an industrial automation solutions provider, while ACME is a specialty chemical and wastewater treatment technologies company.
TXMR received 5 million ringgit, while the rest went to ACME. The investments will help create job opportunities and enable the local SMEs to adopt Industrial 4.0 practices for improved productivity and sustainability, VentureTECH said in a statement.
“The addition of TXMR and ACME to our current list of 15 investee companies will bring more dynamism and further increase the synergy among our portfolio companies, especially in our value creating efforts and initiatives,” said VentureTECH managing director Norida Abd. Rahman.
VentureTECH was established by the Malaysian government in 2009 as an impact investment company to back local companies in the high value added and high technology sectors.
VentureTECH has invested in companies in targeted bio-based, emerging and green industries, with an aggregate portfolio revenue of more than 320 million ringgit.
Singapore’s K Hospitality raises $1.4m seed round
Singapore-based hospitality firm K Hospitality Pte Ltd (K Hotel) on Thursday announced that it has raised S$2 million ($1.4 million) in a seed funding round. It did not disclose the names of participating investors.
The company said it raised a seed round in August 2019 and completed a follow-on offering in April.
K Hotel also announced the appointment of Noel Neo as its CFO and the CEO of its investment advisory affiliate, K Hotel Advisors.
Neo joins from Stewardship Asia Centre, a subsidiary of Temasek Holdings, and was previously research chief at the Asia Pacific Real Estate Association.
“Noel has been consulting with us for a year and he was tremendously helpful in securing our seed financing of S$2m. This has enabled us to weather the COVID storm better than many of our peers and be in a position to emerge stronger from the crisis,” said K Hotel chief executive Ken Cai.
The hospitality firm is now in talks to raise Series A financing.