Chinese venture capital firm Gobi Partners, Malaysia Venture Capital Management Bhd and real estate to education company Sunway Group have partnered to form a new fund targeting early-stage startups.
With a total investment of $10 million, the new macro fund, dubbed Malaysia SuperSeed Fund II, will target early-stage startups in Malaysia.
Malaysia SuperSeed Fund II expects to make 25 to 30 investments in seed to pre-Series A startups with an average ticket size of around $250,000.
The new macro fund is seeking to back sectors including artificial intelligence, big data, cloud services, e-commerce, financial technology, internet of things, marketplaces, the circular economy and TaqwaTech.