Cradle Fund Partners KLDX To Introduce Alternative Fundraising Platform For Startups
KUALA LUMPUR, Nov 22 (Bernama) -- Cradle Fund Sdn Bhd, the focal agency for Malaysia’s startup ecosystem, has partnered with digital securities exchange platform Kapital DX Sdn Bhd (KLDX) to provide Malaysian startups with an alternative avenue for fundraising.
In a statement today, the Ministry of Science, Technology and Innovation (MOSTI) said the partnership offers startups greater flexibility in choosing funding options that align with their unique needs, enabling companies that may not traditionally attract local venture capital (VC) funding to raise capital through the KLDX platform.
It said this strategic alliance is a key initiative under MOSTI’s Fund Funnel Programme, designed to address one of the critical challenges identified in the Malaysian startup ecosystem, a lack of continuous financial coverage from early-stage to later-stage funders.
“This gap has been recognised as a significant barrier to growth, as highlighted in the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030.
MOSTI Technology Development deputy secretary-general Datuk Mohd Nor Azman Hassan said that providing alternative funding options will enable startups to scale and pave the way for Malaysia to be one of the top 20 startup ecosystems globally by 2030.
Cradle Fund group chief executive officer Norman Matthieu Vanhaecke said the collaboration with KLDX represents the fund’s commitment to nurturing and growing the Malaysian startup ecosystem.
“We are thrilled to offer this to our alumni and startups across Malaysia as a strong alternative to traditional VC funding,” he said.
MOSTI added that the KLDX platform will be accessible through the MYStartup Single Window platform, providing seamless access to funding solutions for Malaysian startups.
For more information on Malaysia’s startup ecosystem, visit www.mystartup.gov.my and join us in driving the innovation forward.
-- BERNAMA