MDV to offer RM450 mil financing to tech firms this year
KUALA LUMPUR: Malaysia Debt Ventures Bhd (MDV) will offer more than RM450 mil in new financing to meet technology companies’ and project financing needs in 2020.
CEO Nizam Mohamed Nadzri said the company has refined its business focus to be more in line with the current emphasis on sustainable development and technological empowerment as a means to achieve continued economic stability and overall prosperity for the people.
“In keeping with MDV’s mandate, we will continue supporting the nation’s technology agenda in 2020 through portfolio rebuilding initiatives by committing our efforts and resources to developing the company’s newly-identified key priority areas within the technology sector, namely digitalisation and information and communications technology (ICT), green technology, connectivity and startups,” he said in a statement today.
To date, MDV has financed 897 technology projects with more than RM11.9 bil in financing disbursements.
With regard to startups, MDV offers a number of programmes to fit their unique requirements, including venture financing, the Shariah-compliant equivalent of the venture debt models currently used by more developed markets, for high-growth venture capital-backed technology startups in Malaysia.
MDV is also the only dedicated energy performance contracting financier in the country.
“This year will also see the efforts by the government to boost the growth of start-ups and technology-based companies via collaborations and partnerships between MDV, Cradle Fund and Malaysia Venture Capital Management Bhd.
“This is beginning to materialise as all three agencies are working to define the scope and areas of collaborations that can yield optimal outcome to the targeted group by enabling a funding platform offering grants, equity and debts, for the continued development of the Malaysian technology sector as a whole,” Nizam added. – Feb 26, 2020,