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The Malaysian conglomerate Sunway Berhad has created a new venture capital fund, Sun SEA Capital LP, in partnership with Singapore-based investment firm KK Fund.
The fund is expected to raise $ 50 million and target start-ups in Southeast Asia and Hong Kong in the following areas: online / offline convergence, enterprise solutions, logistics, digital media and entertainment , financial technology and digital health.
It will be an investment in start – ups that increase their A – series by $ 1 million.
Currently, Sunway has invested $ 5 million in the fund, which will also be managed by Koichi Saito and Kuan Hsu, two experienced co-founders of KK Fund, formerly IMJ Investment (now Spiral). Ventures) and GREE Ventures respectively.
Since its inception in 2015, KK Fund has invested in 20 deals, from the Malaysian Kaodim Home Care Market to the Venteny-based microcredit facility in the Philippines. 659002] Sunway, established in 1974, operates in 50 locations around the world and manages 12 divisions: Real Estate, Construction, Retail, Hospitality, Leisure, Health, Education, Trade, Trade and Manufacturing, Building Materials, Quarries and Real. Estate Investment Trust. according to the company.
Sunway is no stranger to technology, despite its traditional origin. Two years ago, she launched Sunway Ventures, its venture capital arm focused on start-up financing, and a year ago she also launched Sunway Innovation Lab, an incubator and accelerator.
Startups will also take advantage of Sunway Sun Capital Sea offers a "plug-and-play" option for their future holding companies, allowing them to "hook up" on the ecosystem that Sunway has already established and " play "to outperform competitors.
Sunway Ventures also invested in PopBox, an Indonesian-based locker services provider, which then signed a joint venture with Sunway to help Malaysian consumers with their online parcel deliveries. "We hope Sun SEA Capital will attract great talent from the region to pursue sustainable growth with us," said Dato Chew Chee Kim. "
million. Chew adds that Saito and Kuan's expertise will help the group "expand its presence in the region, particularly in Japan and Taiwan.
Saito said, "We were pleasantly surprised by the Sunway company. Culture. From senior management to work teams, Sunway's willingness to embrace digitization is evident. They have a very open minded state and have already worked and invested in startups. "
Publisher: Ben Jiang
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