KUALA LUMPUR: Malaysia’s startups stand a higher chance of go-to-market success in the Indonesian US$1 trillion (RM4.16 trillion) economy following the agreement signed between Penjana Kapital Sdn Bhd and AC Ventures, a leading Indonesian venture capital (VC) investment firm.
“We are pleased with AC Ventures’ decision to partner with Penjana Kapital and invest in the Malaysian startup space.
“These funds are crucial to spur our startup ecosystem by encouraging innovation and equipping Malaysian innovators with the necessary resources to scale and succeed, particularly in Indonesia, the largest consumer market in South-East Asia,” Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz said in a statement yesterday.
Penjana Kapital was incorporated in 2020 as part of the Malaysian government’s initiative to catalyse the development of innovative startup companies while AC Ventures is a VC investment firm focusing on South-East Asia.
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