(Malay Mail, June 2020) Co-creation studio The Hive today announced its new partnership with Tuas Capital Partners (TCP) for a new Southeast Asian base that will operate from out of Malaysia.
Dubbed “The Hive Southeast Asia”, the collaboration is in response to the government’s soon to be announced Dana Penjana Nasional’s matching programme.
On June 5, Prime Minister Tan Sri Muhyiddin Yassin announced the formation of the Dana Penjana Nasional Investment Fund worth RM1.2 billion as part of the National Economic Recovery Plan (Penjana) to boost Malaysia’s economy through business digitalisation.
“We are excited to work with a strong local partner like Tuas Capital Partners as we share the same ethos and investment beliefs and we hope that we will be able to share the insights and experiences that we have learnt through our previous three funds based out of Silicon Valley and also with the other regional funds — namely The Hive Brasil and The Hive India,” The Hive managing director T.M. Ravi said in a statement.
TCP principal Datuk Syed Haizam Jamalullail said he was pleased to partner The Hive for the co-creation fund under the Penjana programme.
“We are excited about the opportunity to learn and collaborate from such an esteemed group from Silicon Valley and to benefit from their experience and their technology stack, which in return will also benefit Malaysia’s venture capital industry and ecosystem as well,” he said.