KUALA LUMPUR: Malaysia Venture Capital Management Bhd's (MAVCAP) fund size of RM1.4bil makes it the country's largest venture capital firm, said Science, Technology and Innovation Minister Datuk Wilfred Madius Tangau.
He said on Wednesday that MAVCAP, a government-owned company, has invested in 225 technological start-up companies directly and through its 16 Outsource Partners (OSPs).
"In addition, Kumpulan Modal Perdana Sdn Bhd (KMP) holds an average 20 per cent equity stake in technological start-up companies.
"The investment period is between five and 10 years, with the ultimate aim to enable the start-ups to be listed on Bursa Malaysia through an initial public offering (IPO), depending on the current market and economic conditions," he said.
Madius, replying to a question from Datuk Noraini Ahmad (Parit Sulong-BN) in the Dewan Rakyat, said his ministry has invested in six electrical and electronics firms with committed investments totalling RM50 million.
"The government has been helping technological start-up companies since the Ninth Malaysia Plan, through the provision of funding, expertise and technology.
"The ministry's agencies involved include Malaysia Technology Development Corporation (MTDC), Malaysian Biotechnology Corporation (Biotech Corp), SIRIM Bhd, MIMOS Bhd and Technology Park Malaysia (TPM)," he added. - Bernama
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
