Digital News Asia
Growth stage accelerator, ScaleUp Malaysia has announced the selection of the Top 20 Companies for its Cohort 3, launched in August 2021. The team evaluated over 200 applications not just from Malaysia but from as far as the United States and Egypt while startups from Indonesia, Singapore and Japan also applied.
For Singapore-based regional firm Quest Ventures – which counts two sovereign wealth funds as investors, this will be the second year of its partnership with ScaleUp Malaysia. It has already invested in 10 Malaysia companies and will further invest in Cohort 3, demonstrating its commitment and belief in the Malaysian market. Quest Ventures has selected 15 Companies to be a part of their track.
Jeffrey Seah, Partner of Quest Ventures said that “Malaysian founders are plucky, and have never been short of financial investment options. Their perennial challenge remains to find financial investors with established go-to-market networks outside of Malaysia. Those business introductions will provide product validation and pricing models that will unlock the potential of the Scaleup companies, and guide the companies in the following stages of venture funding. Our experience with Malaysian founders and companies has been rewarding – they have unappreciated potential that can be unleashed to the Southeast Asia region with the right support.”
The companies selected for the Quest Ventures track are: Jazro Tech, MADCash, Traitily, GuruInovatif, SpareXHub, Nanka, Vireserve, Open Academy, Hav., PantangPlus, J8 Autism, Graze Market, WeGo, Wa Sushi and Biztech.Asia.