KUALA LUMPUR: Axiata Group Bhd and Malaysia Venture Capital Management Bhd today signed an agreement for a RM100 million venture capital fund.
The largest digital corporate venture capital fund in Malaysia - the Axiata Digital Innovation Fund - will spur the growth of the digital ecosystem.
The signing ceremony was witnessed by Prime Minister Datuk Seri Najib Razak.
Axiata will commit RM50 million to ADIF while MAVCAP will commit RM20 million for the first phase.
The remainder will be raised from other principal investors.
The fund will assist Bumiputeras in the digital services space with innovative products and market fit.