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Malaysia Debt Ventures, KLDX team up to improve fundraising for tech companies

12 Sep 2022 | Bernama

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KUALA LUMPUR (Sept 12): Malaysia Debt Ventures Bhd (MDV) and KLDX has partnered to improve access to fundraising and investments for technology companies.

KLDX is an Initial Exchange Offering (IEO) platform registered with the Securities Commission Malaysia (SC) that allows start-ups, growth stage companies, projects, private equity firms and venture capitalists to raise funding of up to RM100 million via the platform in a cost-effective manner.

MDV chairman Khairul Azwan Harun said the partnership, through a memorandum of understanding with KLDX, will be among many initiatives that the company has planned to strengthen technology companies and the start-up funding ecosystem via alternative financing instruments.

“Most start-up companies still lack exposure to new methods of raising funds such as crowdfunding, peer-to-peer financing, and the latest IEO which the SC supervises.

“Most of them also still depend on loans from financial institutions or government grants to boost their business potential to a higher level,” he said during the KL Venture Finance Forum 2022 and MDV’s 20th-anniversary celebration here on Monday (Sept 12).

Khairul also highlighted the importance for listed corporates and big conglomerates in Malaysia to play a more active role in developing the startup funding ecosystem by investing in funds that are meant to assist local start-ups.

“There is a slowdown of investments in Malaysia by investors from Europe and the United States, due to the prolonged Ukraine-Russia conflict. In this regard, MDV is more than happy to offer our expertise in managing funds for start-ups.

“We more than welcome potential partnerships with market players to ensure a holistic growth of our high potential start-ups,” he said.

Khairul also noted that through sheer commitment to helping bridge the financing gap within the entrepreneurial ecosystem, MDV was able to play a pivotal role in the development of Malaysia’s ICT, biotechnology, green technology and other high-growth and value-added emerging technology sectors.

“This can be seen through our achievements to date in financing close to 1,000 technology projects with disbursements amounting to RM13.07 billion in various technology areas,” he added.

MDV was established in 2002 to provide flexible and innovative financing to develop high-impact and technology-driven sectors of the economy that were identified and prioritised by the Malaysian government as future engines of growth.

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