Gobi Reaches First Close Of Its Asean Growth Fund At $50M

Gobi Partners, a Chinese venture capital firm focused on information technology, telecom, media and technology (TMT) and digital media industries, has reached the first close of its new Asean-focused fund at US$50 million.

Malaysia Venture Capital Management Bhd (Mavcap), Korean home shopping company GS Shop, and Indonesian investment firm CKM have also invested in the fund, according to a company announcement.

“This fund is the biggest growth stage fund to come out of Malaysia at this point, and it is also one of the biggest in Asean," said Mavcap CEO and Gobi senior adviser Jamaludin Bujang. "Mavcap is more than optimistic about the benefits to be gained by being a part of this fund.”

The new fund, named Meranti Asean Growth Fund, will seek investment opportunities in the fields of cloud services, e-commerce, financial technology and Muslim-focused tech fi...

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