MTDC to Co-Invest up to 30% in P2P and ECF Campaigns with pitchIN and MicroLEAPby Fintech News Malaysia May 12, 2020
Malaysian Technology Development Corporation (MTDC) today signed two MOUs with pitchIN and MicroLEAP respectively to collaborate and cooperate in the areas of peer-to-peer (P2P) financing and equity crowdfunding (ECF).
The collaboration enables MTDC to participate in equity crowdfunding investment and P2P financing up to 30% in eligible prospective companies per campaign. In a statement, they said this partnership is to create synergy between private funded companies and funds provided by the government.
The idea behind this partnership is to collaborate with private funding companies so that synergies can be created between the funds provided by the government and the sophisticated investors that invest in this platform.
In their respective agreements, MTDC will co-invest up to RM900,00 or 30% with investors in pitchIN’s crowdfunding platform and up to RM 500,000 or a maximum of 30% of notes issued by MicroLEAP’s P2P financing platform.
MTDC has allocated a co-investments of RM 10 Million for the ECF platform, meanwhile, for the P2P financing platform they’ve allocated a RM 2 million co-investment fund.