Malaysia Debt Ventures-Kapital DX ink MOU to boost tech sector fundraising
KUALA LUMPUR (Sept 26): Malaysia Debt Ventures Bhd (MDV) inked an investment agreement with Kapital DX Sdn Bhd (KLDX) on Tuesday for an undisclosed amount, as part of KLDX’s fundraising efforts.
The investment signifies MDV’s landmark venture into the initial exchange offering (IEO) market and is consistent with the company’s mandate to support the technology sector through innovative financing options.
The investment is part of a collaboration to also diversify MDV’s funding avenues and broaden its digital presence through participation in alternative financing platforms.
“The signing of the agreement with KLDX marks a pivotal step in MDV’s ongoing efforts to champion innovation and elevate Malaysia’s digital economy, particularly the fintech ecosystem.
“MDV also intends to leverage the platform to finance tech projects related to the National Energy Transition Roadmap (NETR), especially in the area of renewable energy and energy efficiency,” chairman Wong Chen said in a statement.
The platform will also facilitate venture capital and venture debt fundraising to support the growth and development of tech start-ups in Malaysia and the region, crucial to the nation’s vision to become a global tech innovation hub and to strengthen its position on the digital frontier.
As the first IEO platform to be launched in Malaysia, KLDX has introduced a new approach to asset ownership via digital tokens.
The platform aims to provide investors seeking diversified, high-growth investments with better access to the private market assets that are otherwise limited to institutional or high-net-worth investors.
The platform also assists companies to realise their growth potential through a secure and efficient fundraising source that empowers issuers to raise up to RM100.0 million annually — a substantially larger issuance size compared to equity crowdfunding and peer-to-peer avenues.
KLDX founder and chief executive officer Selvarany Rasiah said the partnership will provide funding opportunities and also enable transformative growth in Malaysia’s tech and sustainability sectors, in keeping with the country’s digital economy, as well as its transition to a low carbon economy. – THE EDGE MALAYSIA