VentureTECH eyes RM100 mln investment under JV company with SBI
17 Sep 2020
VentureTECH is targeting at least RM100 million of investments under the establishment of a joint-venture investment company via a partnership with SBI Ventures Malaysia Sdn Bhd, a subsidiary of Japan-based SBI Holdings Inc. Japan.
In a statement today, VentureTECH said the company is geared towards realising its regional investment strategy, further intensifying the company’s developmental role in supporting the growth of local industry particularly Bumiputera businesses in high value-added and tech-driven industries at the regional level.
“This timely move is aligned with both VentureTECH’s mandate as well as the government aspiration outlined in the recently announced Bumiputera Prosperity Council to drive and accelerate efforts to empower the Bumiputeras’ economy and socio-economic development by creating synergies with its regional peers, while addressing some of the challenges of these local companies to scale on a regional level.
“The targeted investment by this joint investment vehicle includes Malaysian and ASEAN-based companies operating in the Biotechnology, Green Technology, Financial Technology and Emerging Technology in the areas of Artificial Intelligence (AI), Robotics & Automation and the Internet of Things (IoT),” it said.
Its managing director Dr Norida Abd Rahman said the company is always aiming to provide the window for new opportunities to its investee companies through value creation initiatives and regional collaboration, especially within the ASEAN market.
“Backed by our track record, we always take a single-minded approach to help build our local companies particularly Bumiputera that promise to not just provide financial returns but importantly contribute in the short term to the creation of employment opportunities in high-skilled jobs and generate socio-economic impacts to the country in the medium to long term.
“Our investees should be excited about growing their businesses beyond Malaysia. In this chapter, we are providing them the platform and tools to measure themselves against their regional peers and satisfy their ‘hunger’ to scale,” she said.