On 5 December 2016, Cradle Fund Sdn Bhd (Cradle) made a great leap in expanding their number of co-investment partners from 26 to 32. 

The signing and exchange of MOUs between Cradle Fund Sdn Bhd and their six new co-investment partners - RHL Ventures, TinkBig Venture, BizAngel Network, EIX Group, Segnel Ventures and PlaTCom Ventures took place at The Co., Bangsar. With these six new partners, Cradle is looking to drive more private investments to support local technology startups.

The six equity co-investment partners will each take part to fund Malaysian-based Technology startups in a one-to-one equity co-investment exercise with Cradle, investing up to RM 14.5 million.

Cradle’s existing co-investment partners include Fatfish Ventures Sdn Bhd, OSK Ventures International Bhd, CoENT Ventures Partners Ltd, Crystal Horse Investment Pte Ltd, Captii Ventures Pte Ltd, Kathrein Ventures Sdn Bhd, KK Fund. The government run organisation also signed a grant co-investment partnership with a Singapore-based seed fund provider, Golden Gate Ventures (GGV) back in June 2014

The diverse experience of the new partners on-board will serve as an opportunity and advantage to the Malaysian technology startups as they prepare to compete at a global level.

“Besides continuing Cradle’s focus on offering conditional grants to Malaysian startups, the company has taken an initiative in doing co-investment to help grow early stage businesses,” Group Chief Executive Officer of Cradle, Nazrin Hassan quoted during his speech at The Co.

Since the introduction of the co-investment initiative back in 2014, four companies – BeMalas, MauKerja, Sync Media and SupplyCart – have benefited in getting funded with a total investment amount of RM6.075 Million.

“In 2017, we will be announcing our own direct equity investment. We will have the option to invest directly should any opportunities arise,” Nazrin Hassan also mentioned.

Nazrin is hopeful and mentioned that Malaysian technology startups have what it takes to succeed. Together with Cradle’s effort, the startup industry in Malaysia will definitely make a mark in the South East Asia region.