Starts with US$3.5mil, allocates US$10mil for 2015, expects 20-30 partners then Targeting 70% of its investments to be in the form of equity co-investments
Source from Digital News Asia
CRADLE Fund Sdn Bhd, an early stage grant provider that over the past decade has given over 600 Malaysian entrepreneurs a financial boost through its grants that range from US$45,000 to US$150,000, will now start co-investing for equity.
At a media briefing in Kuala Lumpur on Nov 6, its chief executive officer Nazrin Hassan described it as “a landmark shift in the evolution of Cradle’s role and function in the Malaysian ecosystem.”
Its equity co-investment chapter starts with Cradle investing RM11.5 million (US$3.5 million) over the next two years with four co-investment partners: OSK Ventures International, FatFish Ventures, Crystal Horse Investments and CoEnt Ventures.
Investments will be made on a one-to-one basis between Cradle and each of its co-investment partners, with the funds acting…