Mavcap invests in Vynn Capital’s SEA focused mobility and supply chain fund
By Digital News Asia January 23, 2024
- Reflects continuous commitment to back local funds, nurture pioneering startups
- Sime Darby, AEI Capital earlier investors, enabling industry to invest into tech companies
Malaysia Venture Capital Management Bhd (MAVCAP), Malaysia's largest venture capital firm, announced that it is investing as a limited partner (LP) in Vynn Capital's latest Mobility and Supply Chain Fund. The amount was not disclosed. Mavcap said the collaboration underscores its dedication to advancing technological frontiers in Malaysia and Southeast Asia (SEA).
Mavcap becomes the third LP to announce an investment into Vynn Capital's Mobility and Supply Chain Fund, after Sime Darby Bhd and AEI Capital announced their participation as LP's in July 2023.
Mavcap's decision to participate as an investor in Vynn Capital's Mobility and Supply Chain Fund reflects its continuous commitment to back local fund managers to nurture pioneering startups in propelling technological advancements in Malaysia and across the region. The Mobility and Supply Chain Fund is one of the few industry focused funds in the region with a targeted fund size of US$30 million (RM141.8 million). It aims to revolutionize SEA's technology landscape by fostering innovation in mobility and supply chain solutions.
Vynn Capital, a Malaysian-homegrown venture capital firm, created this innovative fund to address the emerging challenges and opportunities in the region's mobility and supply chain sectors. The fund will invest in SEA focused early-stage startups that are raising Seed to Series A rounds.
“Mavcap is thrilled to join forces with Vynn Capital in supporting the Mobility and Supply Chain Fund. This collaboration aligns with our mission to catalyze innovation and growth in Malaysia and across Southeast Asia,” said Shahril Anas (pic), CEO of Mavcap.
With experienced partners backing the fund, startups will be able to gain access to essential resources and expertise to drive groundbreaking solutions for the future of vehicle and transport infrastructure. The Mobility and Supply Chain Fund will also seek to address the current challenges of creating a more sustainable and greener environment by applying technological solutions. This would make Malaysia, a frontrunner in creating an ecosystem that encourages further innovation in the mobility industry. This also aims to foster increased regional collaboration by investing in companies that are strategically targeting the broader SEA market.
Ali Redhauddin Tuanku Muhriz, Partner at Vynn Capital said, "We are honoured to have Mavcap as an investor with us again. As one of the most experienced venture backers in the region, Mavcap will continue to provide us access to institutional networks, allowing us to provide better support to our portfolio companies. This is especially important in the world of constantly changing market dynamics.”
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