Malaysia-headquartered conglomerate Sunway Group is launching a $25m venture capital fund with Indonesia-based investment firm Kejora Capital, DealStreetAsia reported on Wednesday, citing an official statement.
Orbit Malaysia fund will invest in startups developing agricultural, financial, education, e-commerce and healthcare technology at series A stage. It will primarily target Malaysia and wider Southeast Asia, and plans to help portfolio companies scale on an international level.
Government-backed venture capital firm Malaysia Venture Capital Management (Mavcap) is anchor investor for the vehicle, which is set to take advantage of Sunway Group and Mavcap’s networks to source deals.
