The cat is finally out of the bag now.
Tuas Capital Partners will be running a new fund with The Hive US and Sunway for The Hive Southeast Asia.
Primarily invest in Pre-seed and Seed stage startup who domicile and operates in Malaysia. Startups that can bring in tangible benefits to the Malaysia economy will be our prime mandate.
I am really thankful to be able to partake the launch of Penjana Kapital's Eight to Acceler8 event or the letter of award ceremony to the recipients officiate by The Malaysia Finance Minister - Tengku Datuk Seri Zafrul Abdul Aziz.
Today I witnessed 8 venture capital fund managers receive their letters of award to invest up to RM1.57 billion, together with a Government matching fund, through the Dana Penjana Nasional (DPN) Programme. DPN is an initiative under the National Economic Recovery Plan (PENJANA) to provide funding support to start-ups in Malaysia. ⠀⠀⠀⠀
Dana Penjana Nasional was launched in June 2020 to support the growth of our start-up industry especially in sectors with high multiplier effects such as agritech, fintech, edutech, mobility and AI.
Alhamdulillah, the investment sum by these international VC funds including from the US, South Korea, China, Indonesia and Singapore under this programme has exceeded the initial target of RM1.2 billion with a potential committed additional investment of RM370 million. This shows confidence in the potential of Malaysia’s economy and its start-up space for medium & long term growth.
I wish the best of luck to those involved in the programme, and to Penjana Kapital in its efforts to grow this promising industry.
It was a total eye-opener for me (my first time attending a large scale government official event). A lot of amazing individuals like the CEO of Mdec (Surina Shukri), the whole Penjana Kapital committee and of course all the partners from the funds that are being awarded.
With this programme, there will be a total of RM1.57Billion to be injected into primarily Malaysia startup ecosystem for all stages - Seed, Series A/B, Growth and Venture Debt.
Me and my firm are all really excited about the coming opportunities, to work with some amazing startup entrepreneurs and the rest of the ecosystem players in town.
We are already in talks of potential partnerships with some huge corporates, conglomerates and universities. There are a tons of exciting packages and opportunities lying ahead.
Covid-19 hits 2020 really hard but 2021 is where we stand back up and come back even stronger!
Watch this space!
For any interested entrepreneurs or founders in exploring more, can always email me @ firstname.lastname@example.org