April 30, 1999
| | |
| ||
| April 30, 1999 | atimes.com | |
| ||
| Southeast Asia U.S. firm, Malaysia to launch techno-venture capital fund KUALA LUMPUR - Tier 4 Partners LLC, a U.S. venture capital firm, is at an advanced stage of negotiations with Khazanah Nasional Bhd to start a U.S.-Malaysia venture capital fund of RM190 million ($50 million). Khazanah Nasional is an investment arm of the Malaysian government. According to the proposal initiated by Tier 4, Malaysian investors are expected to put in RM95 million and U.S. investors, made up mainly of large insurance companies, will take up the other RM95 million, MSC Times.com reported. MSC Times.com said Tier 4 Partners has also received approval to set up office in Kuala Lumpur. It said the fund focuses on suitable U.S. information technology and multimedia companies with the potential to list on Nasdaq and which are also interested in shifting some operations to the Multimedia Super Corridor (MSC) or establishing business linkages with MSC companies. Tier 4 Partners can help eligible Malaysian technopreneurs enter the market either by introducing potential companies to investors or assisting in marketing to the huge U.S. market, it added. Tier 4 Partners president and CEO David A. Shaw, managing director John Muczko and fund advisor Charles R. Cole are in Malaysia to provide consultations to MSC Venture Corporation. This includes training analysts and investment managers in making venture capital investments, said MSC Times.com. Muczko sees plenty of room for entrepreneurs in the MSC, given its focus on developing start-ups and companies with high growth potential. Based on his few short days of observation of Malaysian entrepreneurs, he said they have great vision, want to learn, are smart and grasp concepts quickly but lack experience. Cole believes that the MSC is ''the right thing at the right time'' and with the facilities and services available, it will be a good place to incubate and help fledgling businesses spring to life. But the snag is that the MSC has not been promoted enough in the U.S., he said. MSC Times.com also quoted Cole as saying that the bad press given to Malaysia by the Western media was ignored by most in the U.S. and that they look at the business opportunities instead. (Asia Pulse/Bernama) | |||||||||
 |
|
Front | China | Southeast Asia | Japan | Koreas | India/Pakistan | Central Asia/Russia | Oceania Business Briefs | Global Economy | Asian Crisis | Media/IT | Editorials | Letters | Search/Archive |
back to the top ©1999 Asia Times Online Co., Ltd. |
