KUALA LUMPUR: Cradle Fund Sdn Bhd’s (Cradle) subsidiary Cradle Seed Ventures Pte Ltd (CSV) aims to raise its Cradle Seed Ventures Fund 1 (CSVF-1) fund size to RM100 million through contributions from private sector investors within the next 12 months.

CSV, an early stage financier and influencer of the Malaysian technology start-up ecosystem, currently has an initial fund of RM40 million injected by the Ministry of Finance through Cradle.

CSV Chief Executive Officer Aziz Hussein said the CSVF-1 targets to invest between RM1 million and RM3 million into promising and scalable Malaysian technology start-ups at three stages — Pre-Series A, Series A and Series B.

He said Pre-Series A companies are at between the pre-commercialisation and commercialisation stages; Series A companies are at the commercialisation stage with clear market identification for early growth; and Series B companies have invested for growth and expansion based on the requirements and/or opportunities.

Aziz said 70% of the CSVF-1 will be invested in local companies with the remaining 30% open to overseas start-ups.

“We are already looking at 30-40 start-ups and hope to have at least two investment deals by the end of this year,” he told reporter afters CSV’s official launch here on Thursday.

He said the company anticipates to invest in six to eight companies over the next two years.

“We are aware of the need to value-add and will assist target companies to grow besides monitoring and tracking the development of our future investee companies,” he said.- Bernama