Vickers Venture Partners sets up base in Kuala Lumpur
By Digital News Asia February 28, 2018
- Ideal as it is the region’s antenna and a key destination in the 'One Belt One Road’ initiative
- Initiatives of the Malaysian Government, led by the MDEC, one of the key attractions
VICKERS Venture Partners, Southeast Asia’s largest VC, on Feb 27 announced the opening of its Malaysian headquarters.
Vickers Venture Partner Advisors, based in Kuala Lumpur, will be the newest outpost of the Vickers Global Network and will focus on realising Malaysia’s large innovative and disruptive potential.
Vickers Venture Partners chairman and co-founder Dr Finian Tan, said “Southeast Asia is one of the key pillars to our investment strategy. We view the initiatives of the Malaysian Government, led by the Malaysia Digital Economy Corporation (MDEC), as one of the key attractions of Malaysia.
“Malaysia also represents an ideal location for Vickers as it is the region’s antenna and is a key destination in the 'One Belt One Road’ regional economic development initiative.”
Vickers Venture Partners recently raised Southeast Asia’s largest non-government linked VC fund – a US$230 million (RM898.57 million) fund (fund V).
Vickers Venture Partners’ fund IV is the world’s best performing fund as per Preqin data.
Tan is best known as being the first investor in Baidu, investing US$6 million (RM23.44 million) when the startup was valued at US$20 million (RM78.14 million).
His other recent big investment is in San Diego based biotech startup Samumed, where he and his co-investors own approximately 11% of the company which is now valued at over US$12 billion (RM46.88 billion).
MDEC chief executive officer Yasmin Mahmood welcomed the move into Malaysia by Vickers Venture Partners: “In these days of increasing digital transformation and rapid disruption, it is becoming more important than ever to secure and attract more venture capital investment in our ecosystem to encourage entrepreneurship and help to rapidly grow exciting startups into wider markets.
“The opening of Vickers Venture Partners’ Malaysia headquarters is another testament to the strength of Malaysia’s digital economy strategies to foster greater growth and innovation. It also shows their level of confidence in our ecosystem,” said Yasmin, adding that this latest news also bodes well for Malaysia’s digital hubs strategy and the Malaysia Tech Entrepreneur Programme; both of which are focused on speeding up startups and scale-ups, connecting businesses to encourage knowledge-sharing and further catalyse the digital economy.
Vickers Venture Partners – launched in 2005 by Tan (chairman) and four partners – Khalil Binebine, Jeffrey Chi, Damian Tan and Linda Li – is a multi-nationality venture capital fund with a proven track record in Southeast Asia and beyond.
The firm has offices in Shanghai, Hong Kong, Singapore, New York and San Diego. At present, its portfolio companies cover life sciences, technology, media, telecommunications as well as consumer and financial services.
How startups can benefit from VCs
Garage Ventures VC shares Silicon Valley lessons in innovation
Indonesian startup investment hits US$3bil in 2017: Google – AT Kearney