1337 Ventures to Launch US$287,000 Fund for Malaysian Startups

The fund is open to early-stage startups across any industry

Teckwai Saw

24 Jan, 2022

1337 Ventures to Launch US$287,000 Fund for Malaysian Startups | BEAMSTART News

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1337 Ventures has launched a new US$287,000 (RM1.2 million) 1337 Accelerator Fund I.

The Fund's Aim and Vision

The fund is co-funded by seasoned angel investor, Asgari Stephens and former JobStreet COO, Suresh Thiru with the focus to invest in seed-stage startups across various industries, ranging from fintech to healthtech.

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1337 Ventures will act as the general partner of the fund and will be responsible particularly in screening the startups and managing the portfolio.

Throughout 2022, the Malaysia-based VC plans to secure and sign eight potential deals with a maximum funding of US$35,800 (RM150,000) for each deal.

Moreover, if necessary, 1337 Ventures will also assist the startups in raising additional capital for their seed round.

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Fills the Early-Stage Gap

It is well known that most investors have a preference to invest in later-stage startups to minimise risks such as lack of traction and market validation.

This is where 1337 Ventures fills the seed capital gap.

For startups to have a higher chance of success in getting funded at a later-stage, a consistent flow of early-stage investments is needed.

During 2021, 1337 Ventures has invested more than US$310,000 (RM1.3 million) in early-stage startups.

For the year 2022, the VC plans to follow through with the early-stage investment strategy while also doubling down on teams participating in the Alpha Startups program.

“We are witnessing a rise of Malaysian startups trying to solve various problems - from making our daily lives easier to solving bigger challenges. With this fund, I am looking forward to supporting businesses that will benefit our society and perhaps, go global,” former COO of JobStreet.com, Suresh Thiru said.

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