MVCA Awards show Malaysia success
The Malaysian Venture Capital and Private Equity Association (MVCA) Annual Dinner & Awards, supported this year by AVCJ, showcased the best achievements of private equity and venture capital in backing innovative companies throughout Malaysia.
Malaysia’s Minister of Science, Technology and Innovation, YB Datuk Seri Dr. Maximus Johnity Ongkili, gave the keynote address to open the dinner, with David Fong, MVCA Chairman and CEO of iSpring Venture Management, leading the event for the private equity and VC attendees.
“VCs provide the vital risk capital to young companies,” Fong remarked, paying tribute to “the innovative Malaysian companies” recognized in the Awards. “By recognizing their achievements, we are also recognizing the VC firms that have invested in them.”
A selection of 20 companies, with business focuses from hospitality to biotech and logistics to waste management, were recognized. The investors who supported the winning venture-backed companies were Malaysia Venture Capital Management (MAVCAP), CIMB Private Equity and Venture Capital, Malaysian Technology Development Corp., and Kumpulan Modal Perdana.
And as for the private equity and VC players in attendance, Recognition Awards were given to PricewaterhouseCoopers as a private organization that continually supports and contributes to the development of the industry in Malaysia; to CIMB Standard Strategic Asset Advisors for their $262 million Islamic Infrastructure Fund; and several government-linked bodies for their contributions. Together, government and related institutions provided 53% of Malaysia’s committed private equity funds in 2009.
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