Vynn Capital, a Malaysia-based venture capital firm specializing in early-stage investments, has on Wednesday announced the participation of Malaysian conglomerate Sime Darby Berhad and Hong Kong-based investment firm AEI Capital as limited partners in its second Venture Capital (VC) fund.
Vynn Capital said in a statement that this strategic collaboration aims to accelerate innovation and drive transformation in the rapidly evolving sectors of mobility and supply chain.
The fund, which is targeted to close at $30 million, has also received investment commitment from Wide Technologies from Indonesia and other limited partners from Malaysia and Singapore.
The new fund aims to support startups developing innovative solutions in areas such as smart mobility, transportation, logistics, and supply chain optimization.
By combining the financial resources and industry knowledge of Sime Darby and AEI Capital with Vynn’s venture capital expertise, the partnership is poised to provide startups with the necessary resources, mentorship, and access to networks to thrive in the evolving landscape of mobility and supply chain.
The collaboration between Sime Darby, AEI Capital, and Vynn Capital signifies a shared commitment to supporting entrepreneurship and driving technological advancements in the mobility and supply chain sectors.
By leveraging their collective resources and expertise, the partners aim to play a pivotal role in shaping the future of these industries and contributing to economic growth in ASEAN.
“We are thrilled to welcome Sime Darby and AEI Capital as limited partners in our mobility and supply chain-focused venture capital fund,” said Victor Chua, Founding and Managing Partner at Vynn Capital.
“Their extensive experience and industry knowledge in the targeted sectors will significantly enhance our ability to identify and support startups with groundbreaking solutions,
“Together, we aim to drive innovation, accelerate digital transformation, and shape the future of these key sectors in Southeast Asia,” he added.
With its latest fund, Vynn Capital aims to further strengthen its presence in the regional startup ecosystem by providing crucial financial support and industry expertise to startups focusing on mobility and supply solutions.
The firm has identified and nurtured high-potential startups in Southeast Asia and partnerships with North Asian companies expanding into the region, with investments in companies like Carsome and Dropee, that have expanded into key markets across ASEAN.
“This investment in Vynn Capital is in line with our mobility strategy that aims to futureproof our traditional core businesses against disruptive trends,
“We are proud to be supporting the development of the Malaysian venture capital ecosystem, and we look forward to further collaborations with Vynn Capital’s portfolio of companies,” said Dato’ Jeffri Salim Davidson, Sime Darby Berhad’s Group Chief Executive Officer.
According to the statement, Sime Darby which is a trading multinational in Asia Pacific, is expected to bring extensive experience and a diverse range of capabilities to this partnership.
With deep knowledge and involvement in the automotive and industrial sectors, Sime Darby has established itself as a partner of choice for many of the world’s brands such as BMW and Caterpillar.
Sime Darby’s investment in Vynn Capital’s new fund demonstrates its commitment to driving innovation and supporting transformative solutions in new areas of mobility from electric vehicles (EVs) and batteries to alternative ownership models such as ride hailing and carsharing.
AEI Capital, a firm known for its strategic investments in mid-market technology-driven businesses across Asia, is also excited to collaborate with Vynn Capital in this venture via its fund-of-funds investment arm.
With its expertise in identifying disruptive businesses and its strong network of industry connections, AEI Capital is well-positioned to contribute to the growth and development of innovative solutions in the mobility and supply chain sectors.
Its investment in Vynn Capital’s new venture capital fund exemplifies its dedication to supporting entrepreneurs and driving technological advancements in Southeast Asia.
John Tan, the Chairman and Chief Executive Officer of AEI Capital Group, also expressed the firm’s sincere wish for strong strategic synergy with Vynn Capital in identifying and seizing strategic high growth investment opportunities in Southeast Asia.
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