Malaysia Debt Ventures Plunges into IEO Market with Investment in KLDXby Fintech News Malaysia September 27, 2023 1 comment
Malaysia Debt Ventures (MDV) and Kapital DX (KLDX) has signed an investment agreement for an undisclosed amount as part of the latter’s fundraising efforts.
MDV is a subsidiary of the Minister of Finance and an agency under the purview of the Ministry of Science, Technology and Innovation (MOSTI).
The investment signifies MDV’s landmark venture into the Initial Exchange Offering (IEO) market and a pivotal step in MDV’s ongoing efforts to elevate Malaysia’s digital economy, particularly the fintech financing ecosystem.
MDV and KLDX intend to engage in several areas of collaboration with KLDX. This includes undertaking fundraising for projects identified by MDV that require substantial funding that can be syndicated on the KLDX platform and joint investments in projects originated on the KLDX platform that meet MDV’s financing criteria.
Both entities will also look into developing innovative products for fundraising on the KLDX platform and the provision of services relating to fundraising activities on the KLDX Platform such as due diligence and monitoring.
Additionally, in order to continue growing its venture debt financing portfolio, MDV is planning to raise funds on the KLDX platform by establishing the first venture debt fund to be listed on an IEO platform.
Selvarany Rasiah, Founder & CEO of KLDX said,
“We are excited to work together with MDV and see it as a significant move towards making funding and investment opportunities more accessible in the tech and sustainability sectors.
We believe that this partnership will not only provide funding opportunities but also enable transformative growth in Malaysia’s tech and sustainability sectors in keeping with Malaysia’s digital economy as well as transition to low carbon economy.”
Nizam Mohamed Nadzri, CEO of MDV said,
“This collaboration is a significant stride towards fostering a robust digital economy in Malaysia. It allows the company to explore new horizons in fundraising, providing MDV with expanded opportunities to grow our portfolio and continue our support for technology companies, particularly green economy companies, SMEs and startups, in a sustainable manner.
I am confident that this synergy between MDV and KLDX will drive innovation, foster economic growth, and further solidify our commitment to nurturing the technology sector in Malaysia.”