Malaysia's Mavcap and China's Gobi to assist ICT start-ups

Good opportunity: Tsao (left) and Jamaludin at the interview. Jamaludin says companies must have scalable products and economical business plans to be eligible for the fund.

KUALA LUMPUR: Malaysia Venture Capital Management Bhd (Mavcap) has tied up with China-based Gobi Partners in a US$50mil (RM212mil) deal to launch a new fund to assist start-up companies in South-East Asia and China.

As Malaysia’s largest venture capital (VC) company, Mavcap makes direct investments with a fund size ranging from RM1mil to RM20mil and participates actively in the management and operations of start-ups.