PETALING JAYA: The Hive will be partnering with regional private investment and venture capital firm, Tuas Capital Partners, to launch The Hive Southeast Asia, based and operated out of Malaysia, that will participate in the Penjana Nasional Fund’s (PNF) matching programme.
The Hive said it was named as one of the international groups that will be participating in the PNF programme, which will match, on a one-to-one basis, institutional private capital investments with selected venture capitals and early-stage tech fund managers for various stages of the startup funding life cycle.
“The Hive South-East Asia will be domiciled in Malaysia and invest in the co-creation space dedicated to provide startup launchpads and utilising The Hive’s tried and tested venture studio model.
“It will benefit from The Hive’s expertise and deep ecosystem relationships in the Silicon Valley, ” said The Hive, a venture fund and co-creation studio, in a statement.
The Hive South-East Asia will create a conduit for innovation and greater value generation between the US and Malaysia.
The Hive’s presence and sister groups in Brazil and India will drive global collaboration with Malaysia in digital growth.
The Hive managing director TM Ravi said The Hive’s proven co-creation and venture studio model using data and artificial intelligence-driven innovations will not only enable economies to become more resilient during the Covid-19 crisis, but to also recover rapidly and grow sustainably.
“We are excited to work with a strong local partner like Tuas Capital Partners, as we share the same ethos and investment beliefs, ” he said. — Bernama
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