Cradle Seed Ventures picks Mavcap executive, Dzuleira Abu Bakar as its new CEO, replacing Aziz Hussein.
KL-based on-demand services startup ServisHero has raised US$2.7 million in a pre-Series A round led by Singapore-headquartered Golden Gate Ventures, with participation from Cradle Seed Ventures.
Cradle Seed Ventures has announced its investment in Malaysian startup Involve Asia, in a co-investment deal with 500 Startups.
For those wondering why e-government services provider MyEG Services Bhd is not involved in the Cradle Seed Ventures Fund, it’s because its cofounder Wong Thean Soon (aka TS Wong) has a new game plan for investing in startups: He wants MyEG to have more control.
Some may see the recent launch of Cradle Seed Ventures Pte Ltd as an initiative to encourage public-private partnership on the domestic startup funding front, but the move has a much bigger agenda: To prevent, or at least to minimise, the number of good deals flowing out of Malaysia.
After many months of planning, discussions and getting feedback from various stakeholders, the much-awaited Cradle Seed Ventures Pte Ltd has finally launched, with RM40mil in its coffers and 30 to 40 startups in its sights.