Players laud RM1bil allocation for tech startups

Grove: This can help put Malaysia on the map as a centre of tech especially in Asean. —Bloomberg

PETALING JAYA: The RM1bil allocation for startups under Budget 2018 will be provided by large government linked investment funds such as the Employees Provident Fund and the Retirement Fund Inc to venture capitalists on a matching basis.

Sources familiar with the plans explained that registered venture capital firms would have to match their own funds with how much they wish to tap from the RM1bil fund.