Artem Ventures’ Malaysian Foray Ends on a Successful Note

Kuala Lumpur, MALAYSIA (January 11, 2024) – Artem Ventures announced a successful first year of investment for up-and-coming entrepreneurs and SMEs in Malaysia. Twelve local businesses, including Kiddocare, du-it, MADCash, and Qwork, have received investments from the VC since November 2022. By Q2 2024, the company hopes to have supported over ten new businesses due to its quick growth in the future year.

Under the direction of Managing Partners Ng Sai Kit and Low Zhen Hui, as well as Principal Artem Tunku Omar Asraf, Artem Ventures launched TIM Ventures, an RM45 million venture capital fund, to support up-and-coming insurtech and Islamic fintech start-ups in Malaysia, with the ultimate goal of promoting financial inclusion in underserved communities. The fund is managed by FWD, a pan-Asian life insurer.

Being a part of the Malaysian Venture Capital & Private Equity Association, Artem Ventures is committed to helping portfolio firms grow their ESG capacities, put business plans into action, and use their wide network of partners to strategically acquire talent. Artem is able to enable impact-focused entrepreneurs and advance sustainable development in Malaysia among various communities thanks to their cooperation with Google’s entrepreneurs for Sustainable Development programme.

Artem also acts as a partner for people and organisations that want to invest but lack the resources—people, capital, and knowledge—to make the necessary investigations. Furthermore, Artem has concentrated its efforts on strengthening entrepreneurs’ competencies and abilities to create sustainable enterprises in addition to facilitating connections between companies and investors, supported by the combined 20+ years of industry experience of Managing Partners Ng Sai Kit and Low Zhen Hui.

“When we look at which companies to invest in and support, an important thing we consider is: how will this company bring value to the ecosystem and contribute back to society? We have proudly championed women-led companies and social enterprises that have dedicated their time to community development on a local and regional scale and economic growth in Malaysia,” said Tunku Omar Asraf, Principal of Artem Ventures.

“Our mission is to create opportunities for businesses outside of predictable urban markets to support rural and, by extension, nationwide communities regardless of its background or industry.”

Artem is bullish on Malaysia’s innovation and startup ecosystem for 2924. With robust government initiatives like Dana Impak, Cradle Fund, and policies enticing corporate investment in Venture Capital Funds, the landscape is primed for growth and Artem Ventures, having thrived in Fintech, now aims to broaden its impact.