MALAYSIAN Venture Capital Management Bhd (Mavcap), the forerunner in assisting small players in the IT field, has increased the ceiling for funding available under its Seed Ventures Fund from RM500,000 to RM2mil per start-up, its senior vice-president (direct ventures) Bernard Yaw said.
Mavcap had also expanded the scope of the fund from its previous “financing up to beta stage” to encompass “up to commercialisation” of the products, Yaw told StarBiz after the signing ceremony between Mavcap and PC Sentry Sdn Bhd for the formation of Inix Sdn Bhd in Kuala Lumpur yesterday.
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