Twin Towers Ventures and Gobi Partners sign MoU to catalyse sustainable innovation in AsiaPac

By September 19, 2023

Collaborative effort with cross-sharing of deal flow & potential co-investments
Petronas Ventures has nvested in Alibaba Entrepreneurs Fund Greater Bay Area

(L 2 R): Head of Petronas Ventures, Arni Laily Anwarrudin; Petronas SVP of Corporate Strategy, Mazuin Ismail; Petronas SVP of Project Delivery and Technology, Bacho Pilong; TTV Managing Partner, Fariz Ali; Gobi Co-founder and Chairperson, Thomas Tsao; and Gobi Partner and ESG Chairperson, Soo Wei Shaw during the MoU signing in Singapore on 18 Sept.

Twin Towers Ventures (TTV) the investment arm of PETRONAS Ventures, and Asia-focused venture capital firm, Gobi Partners, headquartered in Hong Kong and Malaysia, have entered into a MoU for the collaboration of resources, proficiency and networks to invest in the ecosystem of sustainable innovation within Southeast Asia (SEA) and the Greater Bay Area (GBA) in China.

The collaborative effort between TTV and Gobi includes cross-sharing of deal flow and potential co-investments into promising opportunities in the region, leveraging Gobi’s stable of portfolio companies, exchange of insights and sustainable innovation best practices, as well as exploring potential co-development and / or commercialisation of Petronas’ in-house innovations.

Co-founder and Chairperson, Thomas G. Tsao said, “This MoU marks not only a new beginning but also a new urgency for our organisations. The forthcoming wave of environmentally conscious innovation needs to be transformational on a large scale that benefits all before time runs out.”

TTV Managing Partner, Fariz Ali said: “The intricate challenges of energy transition demand innovative collaborations and concerted efforts from all stakeholders. TTV is delighted to have forged this partnership to open new avenues and advance our efforts to address this challenge and spur the tech ecosystem in the Asia Pacific (APAC) and GBA regions. This collaboration leverages our collective expertise and experience to capitalise on the opportunities in the innovation and technology potential of this region.”

The concept of connecting SEA with the GBA, finds its roots in the longstanding synergy between the parties. Prior to this agreement, Petronas Ventures had already invested in the Alibaba Entrepreneurs Fund Greater Bay Area (AEF GBA Fund), underscoring the pre-existing alignment in vision between the two companies.