Sync, MauKerja raise RM1mil each from Cradle co-investment pact

Source from Digital News Asia

Cradle VP of investment and relationship management Juliana Jan (seated front, far left) and CEO Nazrin Hassan (2nd from left); Sync founder Zharif Sharif (next to Nazrin); OSKVI executive director Amelia Ong (seated front, 2nd from right, in blue dress); MauKerja founder Ray Teng (seated at the back, far right), along with representatives from OSKVI and the two startups.

EDUCATION services provider Sync and recruitment portal MauKerja have each raised approximately RM1 million (US$275,000) from Cradle Fund Sdn Bhd and OSK Technology Ventures Sdn Bhd, a wholly-owned unit of OSK Ventures International Bhd (OSKVI).

This comes on the back of a co-investment partnership deal signed by Cradle, a non-profit under Malaysia’s Ministry of Finance (MOF), and OSKVI last November.

The Sync and MauKerja investments are also the first such deals since Cradle embarked on co-investment partnerships last year.

It is unclear how the deals are structured, or how much equity OSKVI and Cradle are getting in each startup. However, it was revealed that OSKVI has the right…

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