Gobi Partners announced the closing of its US$10 million Gobi SuperSeed II (Gobi SSII) Fund following the participation of Allianz Malaysia as a Limited Partner (LP).
Other LPs backing the Gobi SSII Fund are institutional investors Malaysia Venture Capital Management Bhd (MAVCAP) and Sunway Group.
The Gobi SSII Fund targets early-stage (Seed, Series Pre-A and Series A) technology-enabled local startups operating within Artificial Intelligence, Big Data, Cloud, e-commerce, FinTech, Internet of Things, and Halal-economy-focused segments, which have the capability to scale up and bring sizeable returns to the Malaysian economy.
Since its launch in late 2020, the Gobi SSII Fund has already invested in four Malaysian startups namely the innovation arm of Sunway Group and Sunway University, Sunway Innovation Labs; technology news platform, TechNode; SPEEDHOME; and PolicyStreet.
Given the early-stage nature of the fund, the Gobi SSII Fund can invest in up to 25 portfolio companies.
Gobi, which is celebrating its 20th anniversary, has raised 15 funds to date with US$1.5 billion in assets under management, invested in over 320 startups and nurtured nine unicorns.
