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The Malaysia Digital Economy Corporation (MDEC) has announced two pivotal Memorandums of Understanding (MoUs) with Singapore’s Ascent and Indonesia’s Central Capital Ventura (CCV), securing up to USD45 million (RM200 million) in capital investment.
These strategic partnerships aim to accelerate the growth of Malaysia’s digital economy by supporting local startups and enhancing Malaysia’s presence as a leading digital hub within ASEAN.
Cross-border investments for digital future
The signing ceremony, attended by MDEC’s CEO alongside leadership from Ascent and CCV, highlights the significance of international collaboration in advancing Malaysia’s digital economy.
Ascent and CCV’s combined funding will serve as a foundation for MDEC’s mission to foster innovation and support the KL20 initiative, enhancing the Southeast Asian startup ecosystem through capital and expertise.
With this partnership, Ascent will focus on early-stage investments in Malaysian startups across essential sectors, including fintech, embedded finance, healthcare, sustainable agriculture, and next-generation technologies such as Artificial Intelligence (AI) and robotics.
This capital injection is set to boost financial inclusion and drive digital transformation, empowering promising startups to expand regionally and scale up their operations.
MDEC expanding regional access and support
Alongside Ascent’s commitment, Central Capital Ventura (CCV), the venture arm of Indonesia’s largest private bank, Bank Central Asia (BCA), will provide Malaysian startups with access to its extensive regional ecosystem.
CCV’s partnership aligns with MDEC’s focus on high-growth sectors, including AI, cybersecurity, blockchain, and digital finance.
This expanded access will enable Malaysian startups to collaborate across Southeast Asia, further accelerating MDEC’s vision of a robust and interconnected digital economy.
Through these MoUs, MDEC underscores its dedication to fostering local talent, promoting digital inclusion, and strengthening Malaysia’s competitive position in technology.
By enabling Malaysian companies to benefit from cross-border resources and expertise, MDEC aims to drive innovation and create a dynamic digital-first economy.
The partnerships with Ascent and CCV bring Malaysia’s startups closer to international markets, mentorship opportunities, and potential for further investments.
MDEC, Ascent, and CCV will work closely to ensure the successful rollout of these initiatives, maximising their impact on Malaysia’s digital transformation.
With increased access to international markets and capital, Malaysian startups are well-positioned to thrive. As MDEC continues its efforts, these partnerships mark a key milestone in transforming Malaysia into a forward-thinking digital powerhouse.
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