SGV to expand to Southeast Asia, including Malaysia
12 Feb 2020
Skymind Global Ventures (SGV), which just recently opened its London office in January, is planning to expand to Southeast Asia, including Malaysia and Indonesia, as part of its global expansion plans to focus on training and investment in new Artificial Intelligence (AI) technologies.
In a statement today, it said the firm has also launched a US$800 million fund to back promising new AI companies and academic research across the UK and globally.
“The use of AI and industry acceptance has been growing steadily internationally, particularly in Southeast Asia. The region has been identified as one of the target markets for the investment fund, with a significant portion of the US$800 million to be made available to growing the region’s ecosystem.
“The firm plans to train up to 200 AI professionals for its operations in London and Europe and eventually expand the programme into Southeast Asia,” it said.
Founder and chief executive officer Shawn Tan said Malaysia has a lot of untapped potential to build AI talent and the ecosystem in terms of partnerships and implementing solutions.
“SGV sees strong potential in Malaysia and the Southeast Asian region to build a thriving AI ecosystem. From talent to incubating innovative start-ups, this region just requires the tools and expertise to become a global AI hub.
“SGV will use its London base to back research and development and generate business opportunities across Europe and Asia — one of the world’s biggest and most lucrative markets,” he said.