AC Ventures (ACV) and Indies Capital Partners signed a Memorandum of Understanding with Penjana Kapital Sdn Bhd (Penjana Kapital), which is part of the Malaysian government’s initiatives to develop startups to make cross-border investments and technology transfers.
The signing of this collaboration was witnessed directly by Malaysian Prime Minister Anwar Ibrahim, Malaysian Minister of International Trade Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Indonesian PUPR Minister Basuki Hadimuljono, and Indonesian Foreign Minister Retno Marsudi.
The memorandum sets out the framework for Penjana Kapital, Indies Capital Partners and AC Ventures to explore co-investment opportunities in Malaysian-Indonesian startups through existing and soon-to-launch investment vehicles.
“Through this cross-border collaboration and investment, our company has the opportunity to enter new markets, access new sources of capital and expertise, and encourage innovation and growth in both markets.”
This collaboration is committed to facilitating cross-border investment and technology transfer in strategic sectors such as data centers, education, hospitality, and mobility and waste management involving Indonesian and Malaysian startups.
In addition, this partnership will also assist Penjana Capital in finding new investment opportunities and impact from new sectors in the rapidly growing Indonesian economy.
Furthermore, Indies Capital Partners and AC Ventures, with the assistance of Penjana Kapital, will help Indonesian and Malaysian companies pursue scalable business opportunities, exchange critical knowledge, and share technology for industrial development and trading networks. Both countries are committed to promoting sustainable economic development and driving green growth.
“Penjana Kapital, Indies Capital Partners and AC Ventures are major players in the investment landscape in Indonesia and Malaysia. Working together can also strengthen economic relations between Indonesia and Malaysia and promote a more interconnected and prosperous ASEAN region. The key to realising this potential is fostering a spirit of cooperation and prioritising the interests of the two nations,”
