A new VC fund for early-stage Southeast Asian startups called Ficus SEA Fund has just been launched. The Southeast Asian tech startup ecosystem holds over 35 startup unicorns and is the eye of many venture capital firms. The future for VC investment looks very promising in Southeast Asia as incomes in the region continue to rise.
South Korean VC firms are also expanding their investment into Southeast Asia. KB Investment has the Hibiscus Fund ($50 million) in partnership with RHL Ventures in Malaysia and the Centauri Fund ($35 million) in partnership with MDI Ventures for fintech eCommerce startups in Southeast Asia. LB Investment participated in a funding round in an Indonesian online grocery platform called HappyFresh. Korea Investment Partners created a venture fund with Golden Equator Ventures in Singapore. Furthermore, Intervest is currently managing a $100 million venture fund in Southeast Asia with Indonesia’s Kejora Ventures.
“In line with our mandate to spearhead the development of the nation’s venture capital (VC) sector, this new VC fund will further strengthen Malaysia’s position in the regional funding ecosystem. Beyond increasing availability of funding to enable local and Southeast Asian startups to scale up their business, this also provides the opportunity for startups to leverage our broad global network together with Ficus Capital, as we strive to cultivate regional and global champions,” said the CEO of MAVCAP, Shahril Anas.
“Malaysia and Southeast Asia are favorable places for deal-hunting; the availability of tech talent, cost advantages relative to other locations, a sizable domestic market, and homegrown expertise in the area of Islamic finance. We welcome MAVCAP’s efforts to orchestrate the digital transformation of the economy and growing the tech ecosystem. Startups are crucial to Malaysia and Southeast Asia. They lead to scale-ups and these will create economic opportunities for the countries in the region,” said the CEO of Ficus Capital, Asyrul Ramali.
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