, Malaysia
Stock photo. Credits to Unsplash.

FWD Group launches VC fund for investment in Malaysian insurtechs

The VC fund is in collaboration with Artem Ventures.

FWD Group Holdings has announced the launch of a $10.24m venture capital fund in collaboration with Malaysian-based venture capital firm Artem Ventures.

The fund will be used to invest in emerging start-ups in the insurtech and Islamic fintech space in Malaysia. 

According to FWD small and medium enterprises (SMEs) are a critical component of the Malaysian economy, contributing more than a third of the gross domestic product and providing job opportunities to more than four million workers in Malaysia.

ALSO READ: Insurtech Igloo extends Series B funding round at $46m

“By launching TIM Ventures, we hope to support early-stage entrepreneurs in Malaysia by not just providing them with financing, but also helping to connect them with the networks and expertise they need to succeed. We hope to invest in businesses that share our vision as we work together on changing the way people feel about takaful,” said Sim Preston, FWD Managing Director and Group CEO.

The fund has already invested in four start-ups, including winners from the FWD Start-Up Studio, a pre-accelerator programme launched in 2021, with the aim of becoming a leading innovation hub in Malaysia. 

FWD Group is a pan-Asian life insurance business with approximately 10 million customers across 10 markets, including some of the fastest-growing insurance markets in the world.

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