VYNN CAPITAL WANTS TO RAISE NEXT UNICORN
Bid to help Malaysia become primary venture capital hub in S-E Asia
SOUTHEAST Asia is primed to receive its next technology unicorn and venture capital (VC) firm Vynn Capital is keen to help make that happen.
Despite being only slightly over a year’s old, Vynn Capital is already off to a running start thanks to an investment from Malaysia Venture Capital Management Bhd and its status as the VC partner of United Nations World Tourism Organisation (UNWTO).
Founding and managing partner Victor Chua said he aspired to help Malaysia become the primary VC hub in Southeast Asia.
“There is a lot of potential in Southeast Asia, especially for countries like Malaysia where there is a strong entrepreneurial spirit and slew of policies for a digital economy,” he said.
“Within Malaysia and the region, we see the most potential in fast-moving consumer goods, tourism, property and ‘woman economics’.
“We believe the next tech unicorn will be from this region and given the potential, it is just a matter of when.”
Chua said there were multiple ways in which all four sectors could be combined into one to create the most optimal startup.
“The tourism sector represents a huge opportunity for Southeast Asia, where we see the emergence of a strong middle class,” he said.
He added that the tourism segment was tied to the property segment as tourists needed a place to stay.
“The female segment ties into this as well as we believe women can further economically empower themselves by tapping the tech market and provide services within the property and tourism space.”
Through its partnership with UNWTO, Vynn Capital helps create frameworks and policies to support technology startups address opportunities and challenges in the region’s tourism sector.
It has already invested in some startups in Southeast Asia, namely Indonesia’s Travelio and Malaysia’s Carsome and Hermo.