TLDR:
First Move, an early stage fund, has made strategic investments in Malaysian startups, focusing on early-stage founders and injecting significant capital into the ecosystem. The fund has invested in a majority of Malaysian and Malaysia-based founders, with 35% being women. They have also funded startups in Singapore, Indonesia, and Vietnam. The investments aim to support affordability, financial inclusion, and the circular economy. First Move combines early-stage investments with co-investments from leading venture capital firms to provide startups with essential support and access to networks. This approach is helping propel the Malaysian startup boom and empower visionary founders.
Article Summary
First Move, an early stage fund, created by entrepreneurs for entrepreneurs, has made ten strategic investments in Malaysian startups in its first year of operation. The fund focuses on early-stage founders and aims to inject significant capital into the growth of the ecosystem, providing much-needed funding support during a crucial phase.
In its inaugural year, First Move has invested the majority of its funding in Malaysians and Malaysia-based founders, with an average investment size of $100,000 per startup. The fund has also supported women founders, with 35% of the entrepreneurs being women, showcasing a commitment to diversity and inclusion.
Additionally, First Move has funded early-stage consumer companies in Singapore, Indonesia, and Vietnam. The fund’s latest investments in Malaysia focus on impact investing, with a particular emphasis on affordability, financial inclusion, and the circular economy. The strategic investments are aimed at fostering sustainable and inclusive growth across the region.
First Move’s collaborative approach involves combining early-stage investments with co-investments alongside leading venture capital firms, such as Vertex Ventures, 500 Global, and Gobi Partners. This approach not only provides startups with essential financial support but also grants them access to networks, expertise, and mentorship, enabling them to compete on a global scale.
Overall, First Move’s investments in Malaysian startups have fueled their growth and attracted attention from international investors. The fund aims to continue empowering visionary founders and reinforcing Malaysia’s emergence as a vibrant hub for entrepreneurship and technological advancement.
