Kuala Lumpur, Malaysia – The Malaysia Digital Economy Corporation (MDEC) has announced two Memorandums of Understanding (MoUs) with Singapore’s Ascent and Indonesia’s Central Capital Ventura (CCV), marking a significant milestone in its efforts to strengthen Malaysia’s digital economy.
These strategic partnerships bring in capital investment up to US$45m (RM200m) to fuel innovation, accelerate the growth of local startups, and reinforce Malaysia’s role as a premier digital hub within the ASEAN region.
Ascent has pledged to invest in early-stage Malaysian startups across pivotal sectors, including fintech, embedded finance, healthcare, sustainable agriculture, SME support, and next-generation technologies like Artificial Intelligence (AI) and robotics.
This funding aims to boost financial inclusion, foster digital transformation, and empower high-potential startups to expand regionally. Through this initiative, Malaysia is well-positioned to emerge as a leader in innovation within these fields.
Meanwhile, Central Capital Ventura (CCV), the venture arm of Indonesia’s largest private bank, Bank Central Asia (BCA), is extending its regional ecosystem network to Malaysian startups, enabling collaboration across Southeast Asia.
This strategic investment aligns with MDEC’s mission to accelerate growth in AI, cybersecurity, blockchain, and digital finance, providing essential support to Malaysian startups in these rapidly evolving sectors.
“Attracting global investments like these reinforces MDEC’s commitment to nurturing talent, driving digital inclusion, and strengthening Malaysia’s role as a regional leader in technological advancements. The strategic MoUs will enhance cross-border innovation, allowing Malaysian companies to leverage the resources and expertise provided by Ascent and CCV to expand their operations and compete globally. These partnerships will drive local innovation, foster talent development, and contribute significantly to Malaysia’s transformation into a dynamic digital-first nation,” MDEC said in a press statement.
They added, “These collaborations will offer Malaysian startups access to international markets, mentorship from industry experts, and potential follow-on investments. MDEC will work closely with Ascent and CCV to ensure the successful execution of these initiatives and to maximise their long-term impact on Malaysia’s digital economy.”
