ScaleUp Malaysia today launched Cohort 3 of their programme targeting high growth scaleups. In launching Cohort 3 ScaleUp Malaysia announced that they have entered into partnerships with two venture capital firms, Singapore-based Quest Ventures and US based Indelible Ventures to be part of their effort to further scale chosen scaleups at the launch today. Collectively these firms bring access to partners, investors and other networks in Southeast Asia and the United States of America, accelerating targeted growth in new times.
Quest Ventures, a regional venture capital firm based out of Singapore enters its second year of partnership with ScaleUp Malaysia having successfully worked hands-on with 20 scaleups and co-investing into 10 in the Cohort 2 programme. Indelible Ventures, a US based fund with a mandate to invest in Malaysian startups, targets tech-enabled scaleups with B2B products that have the potential to scale at an international level, making it a strategic partner moving forward.
In Cohort 3, Quest Ventures will look to co-invest in up to 7 companies whereas Indelible Ventures seeks to co-invest in up to 5 companies in this cohort. The investment partnerships will bring in a total investment of approximately US$ 1 million (RM4.23 million) to develop and grow Malaysian scaleups, targeting 20 companies to be shortlisted for the Cohort 3 applications.
Jeffrey Seah, Partner of Quest Ventures said, “Our experience in working with the ScaleUp Malaysia team in their second cohort served to affirm our belief in the potential of Malaysian founders. In Cohort 3 we aim to go further by helping founders expand their mindsets and refine their approaches in scaling their businesses, and in exposing them to our networks in the region and around the world.”