Malaysia-Based Shariah-Compliant Venture Capital Fund Launched; Ficus SEA Fund

Malaysian government-backed Malaysia Venture Capital Management (MAVCAP) and Ficus Capital, announced on the 22nd of November 2021 the launch of the Ficus SEA Fund. This MYR 60 million (USD 14.33 million) fund is a Malaysia-based Shariah-compliant venture capital fund with an emphasis on investment in the Association of Southeast Asian Nations (ASEAN) region.

Why it Matters?

The fund is to invest in early-stage tech start-ups with favourable growth potential and support start-ups and entrepreneurs in Malaysia and Southeast Asia.

Details

MAVCAP has committed MYR 25 million (USD 5.97 million) to the MYR 60 million (USD 14.33 million) fund, with the balance to be gotten from other principal investors. The fund’s...