MDEC unveils US$45M investment initiative with Ascent, CCV to strengthen Malaysian startups

State-run Malaysia Digital Economy Corporation (MDEC) has signed Memorandums of Understanding (MoUs) with Singapore’s Ascent and Indonesia’s Central Capital Ventura (CCV).

These strategic partnerships will strengthen Malaysia’s digital economy, bringing in capital investment of up to US$45 million (RM200 million) to fuel innovation and accelerate the growth of local startups.

Also Read: MDEC CEO: Under Malaysia Digital, digital businesses will have more flexibility in fiscal, non-fiscal incentives

This combined funding will foster the growth of Malaysian startups, particularly in alignment with Malaysia’s KL20 initiatives.

Ascent will invest in early-stage Malaysian startups across critical sectors, including fintech, embedded finance, healthcare, sustainable agriculture, SME enablers, and next-generation technologies like Artificial Intelligence (AI) and robotics. This capital injection is expected to enhance financial inclusion, promote digital transformation, and enable promising startups to scale regionally.

Simultaneously, CCV, the venture arm of Indonesia’s largest private bank, Bank Central Asia (BCA), offers Malaysian startups access to its Southeast Asia regional ecosystem network. This investment aligns with MDEC’s mission to accelerate AI, cybersecurity, blockchain, and digital finance growth, providing vital support for Malaysian startups in these high-growth sectors.

These strategic MoUs will drive cross-border innovation, allowing Malaysian companies to leverage resources and expertise from Ascent and CCV to expand operations and compete globally. The partnerships will also foster local innovation and talent development and contribute significantly to Malaysia’s transformation into a dynamic, digital-first nation.

Also Read: TikTok exec Anuar Fariz Fadzil joins MDEC as CEO to drive Malaysia’s digital agenda

Through these collaborations, Malaysian startups will gain access to international markets, mentorship from industry experts, and potential follow-on investments. MDEC will work closely with Ascent and CCV to ensure the successful execution of these initiatives and maximise their long-term impact on Malaysia’s digital economy.

The post MDEC unveils US$45M investment initiative with Ascent, CCV to strengthen Malaysian startups appeared first on e27.