IN PARTNERSHIP: (l-r) Cradle Fund Sdn Bhd chairman Datuk Sallehuddin Othman, Nazrin, Malaysian Investment Development Authority (MIDA) deputy CEO I Datuk Azman Mahmud, Norraesah, and MyEG representative Datuk P.S. Jaya at a memorandum of understanding signing ceremony between Cradle Fund and MyEG to launch Cradle Seed Ventures Fund 1.
LOCAL technopreneurs are looking forward to the recently announced RM60mil venture capital fund known as Cradle Seed Ventures Fund 1 (CF1), which represents a public-private sector partnership between Cradle Fund Sdn Bhd (Cradle), a non-profit agency under the Ministry of Finance, and MSC status e-government services provider, MyEG Services Bhd (MyEG).
“It is very helpful that we have this kind of funding in Malaysia,” said Joel Liew Fui Kang, chief technology officer at Feradigm Sdn Bhd, the company behind Ucounting (www.ucounting.com), an online business management and accounting system. “A lot of people have ideas, but they don’t have capital.”
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