Allianz Malaysia joins Malaysia-focused early stage venture fund
The fund is backed by Gobi Partners.
Allianz Malaysia is participating in venture capital firm Gobi Partners’ Gobi SuperSeed II (Gobi SSII) Fund as a Limited Parter (LP).
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.
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“Allianz Malaysia’s appetite for digital change has allowed us to capitalise on tremendous new opportunities and explore innovation-led collaborations for the last couple of years. Our general insurance arm, Allianz General Insurance Company (Malaysia) Berhad, was an early partner of insurance technology firm PolicyStreet and online property rental platform SPEEDHOME which are two of Gobi’s portfolio companies. So, we are delighted to join Gobi Partners as one of their LPs. This is our first investment in a VC, and we look forward to the milestones we can accomplish together,” Allianz Malaysia Berhad CEO, Sean Wang said.
Other LPs backing the Gobi SSII Fund are institutional investors Malaysia Venture Capital Management Bhd (MAVCAP) and Sunway Group.