AC Ventures (ACV) and Indies Capital Partners announced the signing of a memorandum of understanding with Penjana Kapital Sdn Bhd, which is part of the Malaysian government’s initiative to develop startups, for cross-border investment and technology transfer.
The signing of the cooperation was witnessed directly by Malaysian Prime Minister Anwar Ibrahim, Malaysian Minister of International Trade Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Indonesian PUPR Minister Basuki Hadimuljono, and Indonesian Foreign Minister Retno Marsudi.
The memorandum sets out the framework for Penjana Kapital, Indies Capital Partners and AC Ventures to explore co-investment opportunities in Malaysian-Indonesian startups through existing and soon-to-launch investment vehicles.
“Through this cross-border cooperation and investment, our company has the opportunity to enter new markets, access new sources of capital and expertise, and encourage innovation and growth in both markets,” said ACV Founding Partner Pandu Sjahrir in a statement in Jakarta, Monday.
The collaboration is also committed to facilitating cross-border investment and technology transfer in strategic sectors such as data centres, education, hospitality, mobility, as well as waste management involving Indonesian and Malaysian startups.
In addition, the partnership will also assist Penjana Kapital in finding new investment opportunities and impact from new sectors in the fast-growing Indonesian economy.
Furthermore, Indies Capital Partners and AC Ventures, with the assistance of Penjana Kapital, will help Indonesian and Malaysian companies pursue scalable business opportunities, exchange critical knowledge, and share technology for industrial development and trading networks.
Both countries have shown great commitment to promoting sustainable economic development and driving green growth
“Penjana Kapital, Indies Capital Partners, and AC Ventures are major players in the investment landscape in Indonesia and Malaysia. By working together, we can also strengthen economic ties between Indonesia and Malaysia, and promote a more interconnected and prosperous ASEAN region. The key to realising this potential is by cultivating a spirit of cooperation and prioritising the interests of the two nations,” said Pandu who also serves as Managing Partner at Indies.