PUTRAJAYA: Swiss-based Mountain Partners, a company builder, will set up its Southeast Asia operations hub in Malaysia, a move that is expected to accelerate the growth of start-ups not just in the country but also the region.
The move will see Mountain Partners facilitate more than 15 of its global portfolio companies’ expansion into Malaysia by establishing their presence here, creating more than 400 jobs, including more than 50 top C-Suite talent roles.
Mountain Partners will also set up a US$100 million (RM422.2 million) fund to invest in Malaysia and Southeast Asia tech start-ups.
In addition, the partnership between private equity firm Leonie Hill Capital and Japan-based IP Bridge will see Malaysia as the home ground for their venture building that will invest and nurture Malaysia and Southeast Asia Innovative Intellectual Property (IP)-based tech start-ups, particularly in the Internet of Things (IoT), sensor and wearable technology, agri-tech and food-tech.
Prime Minister Datuk Seri Najib Razak witnessed the announcement of these investments and ecosystem partnerships today.
The partnership, through IP Bridge's global expansion initiative, ManGO Factory, will also relocate more than 10 Southeast Asian and Japanese start-ups to Malaysia, providing them with facilities, access and market opportunities in both Malaysia and Japan.
Leonie Hill Capital will provide expertise in commercialisation while IP Bridge will provide expertise on IP strategy and advice.
The strategic efforts placed by Mountain Partners, Leonie Hill Capital and IP Bridge will complement Malaysia's initiatives in building a robust start-up ecosystem as Malaysia continues to provide regional and global start-ups the platform to scale in Southeast Asia.
After chairing the 29th Malaysia Implementation Council Meeting, Najib described the Malaysian tech start-up scene as “growing and vibrant”.
“There are several made-in Malaysia regional champions that we see today, such as iFlix, a three-year-old startup that has rolled out services to 30 countries and five million customers, while having access to data analytics, artificial intelligence and machine learning.
“Presently, iFlix has a turnover of US$130 million (RM548.9 million) and raised US$179 million (RM755.9 million) in the latest round of funding. We need to see more rapid growing start-ups in Malaysia like iFlix.
“iFlix is proof that Malaysia has the right ecosystem for global tech start-ups to set up and grow in the country. We are at the heart of Asean and have a strong infrastructure that is conducive to the growth of start-ups," he said.