Artem Ventures has announced the closing of a successful first year of funding emerging startups and SMEs in Malaysia. Since November 2022, the VC said it has invested in 12 local companies including Kiddocare, du-it, MADCash, and Qwork.
For the coming year, the firm plans to scale rapidly an looks to support over 10 new companies by Q2 2024. Led by Managing Partners Ng Sai Kit and Low Zhen Hui, and Tunku Omar Asraf, Artem’s Principal, Artem Ventures partnered with FWD, a pan-Asian life insurer, to launch TIM Ventures, an RM45 million venture capital fund to invest in emerging start-ups in the insurtech and Islamic fintech space in Malaysia with the overall aim of driving financial inclusion across underserved communities.
A member of the Malaysian Venture Capital & Private Equity Association, the company looks to mentor and coach portfolio companies in developing their ESG capabilities, implementing business strategies, and using its extensive network of partners for strategic talent acquisition. Artem’s partnership with Google’s Startups for Sustainable Development program also allows them to empower impact-focused startups and promote sustainable development in Malaysia across different communities.
“When we look at which companies to invest in and support, an important thing we consider is: how will this company bring value to the ecosystem and contribute back to society? We have proudly championed women-led companies and social enterprises that have dedicated their time to community development on a local and regional scale and economic growth in Malaysia,” said Tunku Omar Asraf, Principal of Artem Ventures.
It is looking to serves as partner for individuals and groups who are looking to invest but lack the expertise, ability to do the relevant research, and manpower to invest on their own.
