KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has set up a US$350mil (RM1.46bil) venture capital fund with a mandate to make direct investments in technology startups around the world.
In a press release issued yesterday, the national oil company said the US$350mil fund for investment has been allocated for Petronas corporate venture capital (CVC) to target direct investments in technology startups in Industrial Revolution 4.0, advance materials and specialty chemicals, future of energy as well as access into new markets.
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