Malaysia Venture Capital Management Berhad (MAVCAP), has appointed veteran business leader Ter Leong Yap as its new Chairman, effective Dec 15, 2023.
MAVCAP said in a statement on Tuesday that Ter joins its family with a wealth of experience through his current roles as the Founder and Executive Chairman, Sunsuria Group; Honorary Advisor of the National Chamber of Commerce and Industry of Malaysia (NCCIM), Life Honorary President of The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM); Life Honorary President of the Chinese Chamber of Commerce and Industry of Kuala Lumpur & Selangor (KLSCCCI).
It said his influence extends beyond borders, having served on various Chambers of Commerce internationally.
“The Board and the MAVCAP team are pleased to welcome Ter to the Board, bringing with him extensive entrepreneurship experience and his stewardship of various companies and institutions,
“We look forward to his leadership as we execute our strategic plan to deliver our mandate with the development of local venture capital talent, establishment of local venture capital companies and attracting foreign venture capitals and funding into Malaysia,” said Shahril Anas Hasan Aziz, Chief Executive Officer, MAVCAP.
According to the statement, Ter has had a distinguished career, showcasing his expertise in entrepreneurship and board-level leadership experience.
His achievements have been marked by the success of multiple award-winning publicly-listed entities across various sectors including property development, healthcare, education, construction, landscaping and nursery services, food and beverage, retail, trading, and other complementary businesses.
Ter’s entrepreneurial acumen has also been recognized by prestigious accolades, including the Property Guru Asia Property Awards Australia 2023, multiple Star Property Awards in 2023, The Edge Billion Ringgit Club Corporate Awards 2017 for Highest Returns to Shareholders Over Three Years, The Edge Malaysia Outstanding Property Entrepreneurs Award in 2017, the Sin Chew Business Excellence Award – Business Excellence Person of the Year in 2014, and being listed as one of the 15 Malaysian companies in the Forbes Asia’s Best Under A Billion (USD) 2020.
As MAVCAP embarks on this exciting chapter under Ter’s leadership, the statement noted the venture capital landscape in Malaysia is poised for innovation, growth, and international prominence.
MAVCAP is Malaysia’s largest venture capital company investing the technology industry.
Established in 2001, MAVCAP has a portfolio value of almost MYR 1 billion ($210,000) in the funds that the firm and its private sector partners manage.
As a government-backed venture capital under the purview of the Ministry of Finance and Ministry of Science, Technology and Innovation, MAVCAP has been championing the government’s mandate by developing local venture capital talent, creating local venture capital companies and attracting foreign venture capitals and funding into Malaysia.
MAVCAP invests in Vynn Capital’s Mobility and Supply Chain Fund