Beyond4 announces venture capital fund for tech startups in Malaysia, Singapore

25 Jun 2023 03:21pm
High Commissioner of Malaysia to Singapore Datuk Dr Azfar Mohamad Mustafar (centre) and Beyond4 founder and chief executive officer ST Rubaneswaran (fourth from right) - Beyond4
High Commissioner of Malaysia to Singapore Datuk Dr Azfar Mohamad Mustafar (centre) and Beyond4 founder and chief executive officer ST Rubaneswaran (fourth from right) - Beyond4

SINGAPORE - Beyond4, the transformative startup ecosystem that has been pivotal in driving Malaysia's startup scene, has announced its entry into Singapore.

The startup ecosystem builder has also disclosed the setting up of a venture capital fund, aiming to invite high-potential technology startups in Malaysia and Singapore.

"The launch of Beyond4 into Singapore, in tandem with our Singapore Venture Capital Fund, is a testament to our commitment to nurturing startups and empowering them to reach new heights,” Beyond4 founder and chief executive officer ST Rubaneswaran told Bernama.

"With our holistic and collaborative approach, we are excited to bring the success we have seen in Malaysia to Singapore and beyond," he said.

Beyond4 has ratified its partnership with True Vine Capital Partners, enabling Beyond4 to set up of its first venture capital fund.

The fund is designed to further empower early-stage startups in the Asean region, providing them with the critical seed funding they need to scale their business operations, disrupt markets and create lasting impact.

"The fund that we are trying to raise is about US$20 million (US$1=RM4.68). (It will) primarily be used for early-based startups. We are going to use it for both countries (Malaysia and Singapore),” said Rubaneswaran.

He said Beyond4’s venture into Singapore aims to achieve a number of key goals, namely to further build upon its comprehensive ecosystem of talent development, entrepreneurship incubation, and startup scaling to further bolster the forward momentum within the tech space.

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Building upon its achievements in the past year, with Beyond4 onboarding over 120 startups to the programmes to date, in addition to having over 1,500 skilled talents trained within technology firms, the ecosystem builder aims to use its foray across the Causeway as an avenue for creating further traction and opportunities for Malaysian talent to explore the Singapore market.

At the same time, he said, it will create a pathway for Singaporean partners to better tap on the growing potential and value in the Malaysian startup space.

To that end, besides True Vine Capital Partners, Beyond4 has signed with five other strategic partners that have key value drivers in creating better opportunities and pathways for tech talent and startups alike.

Through these partnerships, further value will be created for its ecosystem startups, including financial services, strategic consulting, mentorship, legal aid, and ecosystem support.

These collaborations are set to enhance the existing support structure for startups, creating a more robust and comprehensive platform for innovation and growth, he said.

Beyond4’s strategic partners include Amplify Service Private Ltd, ChangeLeader, Whyze Solutions, Growhub Innovations, and PineTree Securities Singapore.

Beyond4 announced its entry into Singapore at an event held at the Singapore Business Federation here on June 14, which was attended by key leaders and stakeholders in the cross-border collaboration of talent, technology, and startup space.

Among those present were High Commissioner of Malaysia to Singapore Datuk Dr Azfar Mohamad Mustafar, Talent Corp Group of Companies group chief executive officer Thomas Mathew, Cradle Fund acting chief executive officer Norman Matthieu Vanhaecke, and Singapore Business Federation director, Southeast Asia & Pacific, Tan Sock Joo.

In his speech at the event, Dr Azfar said the government needs non-governmental entities to work together on the digital economy journey.

"It is within this context that Beyond4 emerges, standing poised to empower Malaysia's vibrant startup ecosystem together with our neighbouring Asean countries; starting first with Singapore.

"Working together, we can empower more entrepreneurs to transform their ideas into disruptive ventures, fuelling economic growth and driving the Southeast Asia ecosystem growth together,” he said.

Beyond4 provides a structured guide and programme for startups to raise funds, and scale further, with a three-year roadmap and shared services to accelerate their growth.

For more information, visit - BERNAMA