Malaysia’s Prime Minister Anwar Ibrahim during his walkabout at the MCY Summit
Malaysia’s Cradle Fund has announced a strategic collaboration with state-owned impact investor VentureTECH to foster structured discussions between fund providers across government and private sectors.
This partnership is a key initiative under the Ministry of Science, Technology and Innovation’s (MOSTI) Fund Funnel program, which is designed to address the lack of continuous financial coverage from early-stage to later-stage funders.
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As highlighted in the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030, this gap has been recognized as a significant barrier to growth.
Under Intervention 2 of SUPER, there is a pressing need to remodel the investment attraction framework to enhance its efficiency and attract higher-quality investments. The collaboration between Cradle and VentureTECH addresses this by establishing a more coherent and integrated funding pathway for startups, ensuring a smoother transition from early to later-stage investments.
Minister of MOSTI YB Tuan Chang Lih Kang commented: “The Fund Funnel partnership is a strategic move to streamline the funding process within our startup ecosystem, supporting the aspirations under the KL20 Action Plan. By fostering closer and stronger collaboration between early and later-stage fund providers, we facilitate a smoother funding journey for our startups.”
“Aligned with the Ekonomi MADANI framework, this initiative is crucial in ensuring that our innovative startups receive the support they need to scale and succeed, ultimately driving Malaysia’s growth as a global innovation hub,” he added.
Norman Matthieu Vanhaecke, Group CEO of Cradle, stated: “By combining Cradle’s expertise in early-stage funding with VentureTECH’s focus on technology-driven investments, we are creating a more cohesive and comprehensive support system for startups. This collaboration will enable us to better identify and nurture high-potential startups, ensuring they have the resources and guidance needed to achieve long-term success.”
Ahmad Redzuan Sidek, CEO of VentureTECH, said: “The partnership not only aligns with our mission to empower technology-driven companies but also enhances the overall investment landscape. Our focus is to ensure these companies can access the right funding at the right time, ultimately driving high-potential startups towards sustainable growth and equipping them with the necessary resources to thrive in a competitive global market.”
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The collaboration between Cradle and VentureTECH was formally signed with the exchange of the partnership documents at the Malaysia Commercialisation Year (MCY) Summit 2024 recently. Deputy Minister of Science, Technology and Innovation, YB Dato’ Haji Mohammad Yusof Bin Apdal, attended.
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