Thursday 28 Mar 2024
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This article first appeared in The Edge Financial Daily on May 4, 2018

KUALA LUMPUR: The Securities Commission Malaysia (SC) is calling on venture capital (VC) management companies to apply for the RM1 billion fund committed by major institutional investors, as announced in Budget 2018.

The committed amount will be invested in early- to late-stage private companies, with strong preference towards selected sectors including government-promoted sectors such as information and communications technology and biotechnology.

In a statement yesterday, the SC said the Venture Capital Fund Co-ordination Committee, comprising senior representatives from major institutional investors and chaired by the SC, has been established to coordinate the assessment and selection process of potential submissions by VC management companies.

“To be eligible for consideration, applicants, both local and foreign, must be registered with the SC and demonstrate, among other criteria, experience and expertise in managing VC investments.

“Information on the criteria and submission process is outlined in the request for proposal available for download from the SC’s website. Submissions must be made to the SC no later than 5pm on June 1,” it added.

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