MAVCAP forms alliance with regional partners

MAVCAP CEO Jamaludin Bujang told the Business Times that the collaboration will see the government-owned investor contributing half of a $50 million deal size, with the rest to be topped up by its VC partners. Together they will make between 60 and 80 investments in regional companies in 2013.

"Each fund has to bring in the technology and set up an office here so as to benefit Malaysia. We expect a 25% rate of return," Bujang said. "The magic with this kind of partnership is that when we come up with US$25 million, another US$25 million appears."

MAVCAP, which was formed in 2001, is controlled by the Ministry of Finance. It is the largest state-owned VC firm, with more than MYR1 billion ($323 million) of assets under management. Almost all of its transactions over the past decade have involved domestic companies in the information technology sector.

Bujang was named CEO in November of last year, having been the director of investments at Malaysian Technology Development Corporation, and previously the head of investment banking research at CIMB.

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• Topics
• Southeast Asia
• Investments
• Early-stage
• Venture
• Malaysia
• South Korea
• China