Paco Sandejas
Oct 11, 2005
This is from Asia Private Equity Newsletter of Jerry Burrel Oct 12, 2005
- more details to come out in http://www.privateequityweek.com/pew/topnews.html
Malaysia's Minister of Science, Technology and Innovation, Datuk Seri Dr. Jamaluddin Jarjis, announced that a $240 million venture capital fund will be managed by the Small and Medium Enterprises (SME) Bank to produce more new entrepreneurs in information and communications technology (ICT) and biotechnology. He said the establishment of the fund was to provide capital to SMEs in the country, apart from providing advisory services to would-be entrepreneurs.
Paco's side note: we have advocated the government setting aside some money for PE in the past, see other article by Sandejas, Barsatan, Robles on this. In it we suggest a $20M fund, that will co-invest with deals (majority) led by private sector managers with majority LPs or investors coming from private sector as well. This is a small sum compared to what our neighbor in Malaysia is doing. However the effects can hopefully be pronounced.
