MTDC Signs Agreement With Real Tech On Funding Deep Tech Companies In ASEAN
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Business Today – 19 May, 2021
Malaysian Technology Development Corporation (MTDC) and Real Tech Holdings Co. Ltd. (Real Tech Holdings) have signed an agreement to formalise MTDC’s participation in the Real Tech Fund Investment Partnership Global 1 (‘the Fund”).
The Virtual Signing ceremony held by both organizations were signed in the presence of Dato’ Norhalim Yunus, Chief Executive Officer of MTDC and Dr Yukihiro Maru, Chairman of Real Tech Holdings. Witnessses for the signing was Tan Sri Abd Rahman Mamat, Chairman of MTDC and Mr Daiki Kumamoto, Growth Manager of Real Tech Holdings.
The Fund is a venture capital fund established mainly for investments in ASEAN region unlisted companies with advanced deep-tech technologies. It aims to provide support to the investee companies in various aspects especially for expansion into the Japanese market.
Dato’ Norhalim Yunus, MTDC Chief Executive Officer said that MTDC’s participation in the Fund will provide an opportunity for MTDC to jointly invest with Japanese corporations and industrial groups in potential technology-based companies. It is also an opportunity for MTDC to recommend potential companies in MTDC’s ecosystem to the Fund. It is expected to create better access for the selected Malaysian companies with regards to overseas ventures and partnerships, particularly into Japanese market”.
Dr. Yukihiro Maru, Chairman Real Tech Holdings Co. Ltd. Said, “It is our great honor to achieve this partnership with MTDC for accelerating the deep tech ecosystem of Malaysia together since our first contact through Leave a Nest back in 2016. Together, we would like to combine each other’s knowledge and experience to solve deep issues”.
MTDC’s participation in the Fund would indirectly attract the Japanese corporations’ interest in Malaysian tech-based SMEs for collaboration in the form of investment and technology transfer.
There are 10 Japanese large corporations participating in the Fund with total fund size of approximately US$31 million and MTDC is the only non-Japanese participant.
Real Tech Holdings is a joint venture between euglena Co. Ltd, a University of Tokyo spin off company, listed on Tokyo Stock Exchange,and Leave a Nest Co., Ltd, founded in Japan in 2002, is one of the nation’s academic knowledge platforms that supports education, research and entrepreneurship. Leave a Nest has subsidiaries in Singapore, Malaysia (since 2013), the Philippines, the UK and the US.
Real Tech Holdings has established the Fund in 2020 and has started investment towards the Malaysia deep-tech ecosystem. Through euglena’s experience and Leave a Nest’s knowledge-based platform, they have already engaged with more than 800 startups within the ASEAN reagion and will continue to grow its activities.