Boustead Holdings Berhad through its subsidiary Boustead Digital Services is forming a partnership with The Hive SEA and Aimcloud Sdn Bhd for a potential formation of a seed company.
The Hive is the general partner of The Hive Southeast Asia Fund I (the “Fund”), a private equity closed-end seed Limited Partnership fund that is housed in Malaysia. It is also one of the selected VC fund managers under the Government of Malaysia’s Dana Penjana Nasional, a funding programme that is administered by Penjana Kapital.
On a global level, the company is a partnership Tuas Capital Partners and The Hive, Palo Alto which is a venture studio that works actively with founders and corporates undertaking digital transformation to co-create, fund and launch startups focused on Artificial Intelligence whilst Tuas Capital Partners is a private investment group that invests regionally with a focus on the fintech space.
As for AIMCLOUD, this is a technology company incorporated in Malaysia founded in 2014 with a principal business of providing technology and software development. This company specialises in software development projects and in delivering end-to-end development & testing services.
The parties are coming together in the hopes of establishing a platform for funding potential startups, the company aims to pool its expertise to provide better resources to founders.
