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buy apple developer account :Boost for Malaysian startups with new fund

admin2020-12-15127

PETALING JAYA: Penjana Kapital Sdn Bhd will be the boost for Malaysian start-ups in the time of the new normal, said Finance Minister Datuk Seri Zafrul Tengku Abdul Aziz. "It was introduced as part of the Government’s economic stimulus package to weather the impact of the COVID-19 pandemic," he said in his speech at the Penjana Kapital Letter of Award Handover Ceremony. Penjana Kapital yesterday saw its first key milestone in connecting Malaysian start-ups with international Venture Capitals. Zafrul said it would facilitate a growth path and a vibrant ecosystem for these high-potential firms to thrive. Penjana Kapital had announced that it attracted eight venture capital fund managers from the US, South Korea, China, Indonesia and Singapore to invest in Malaysian start-ups as part of the RM1.2bil Dana Penjana Nasional programme. Dana Penjana Nasional is a matching fund-of-funds programme, which is part of the ShortTerm Economic Recovery Plan (PENJANA) that was launched by the government earlier in June 2020. The government will match up to RM600mil, on a 1 to 1 basis, for funds raised by the VC fund managers from foreign and private local investors, with a target allocation of RM1.2bil. The government said the selected VC fund managers have indicated additional investments, to achieve a maximum fund size of RM1.57bil, or RM370mil above the original allocation of RM1.2bil.
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