Artem Ventures, a prominent venture capital firm, is marking the successful completion of its first year of funding emerging startups and SMEs in Malaysia. Since November 2022, the VC has invested in 12 local companies, including Kiddocare, du-it, MADCash, and Qwork. Looking ahead, Artem Ventures plans to scale rapidly in the upcoming year, aiming to support over 10 new companies by Q2 2024.
Led by Managing Partners Ng Sai Kit and Low Zhen Hui, along with Principal Tunku Omar Asraf, Artem Ventures has not only invested in startups but has also initiated strategic partnerships to foster growth. One notable collaboration is with FWD, a pan-Asian life insurer, resulting in the launch of TIM Ventures, a venture capital fund with RM45 million dedicated to investing in emerging startups in the insurtech and Islamic fintech space in Malaysia. The overarching goal is to drive financial inclusion across underserved communities.
A member of the Malaysian Venture Capital & Private Equity Association, Artem Ventures is committed to mentoring and coaching portfolio companies. The firm focuses on developing Environmental, Social, and Governance (ESG) capabilities, implementing business strategies, and utilizing its extensive network for strategic talent acquisition.
Artem’s partnership with Google’s Startups for Sustainable Development program allows the firm to empower impact-focused startups and promote sustainable development in Malaysia across various communities.
Tunku Omar Asraf, Principal of Artem Ventures, emphasized the firm’s mission to create opportunities for businesses outside urban markets, supporting rural and nationwide communities. Artem Ventures has championed women-led companies and social enterprises contributing to local and regional community development and economic growth.
Beyond traditional investment roles, Artem serves as a partner for individuals and groups seeking to invest but lacking expertise. Managing Partners Ng Sai Kit and Low Zhen Hui leverage their extensive experience in Corporate Venture Capitals (CVCs) to accurately validate and identify good investment opportunities. They have successfully addressed CVC problems by identifying new markets, solutions, and partners for sustainable financial benefits.
Artem also addresses the existing gap in the investment process, ensuring efficient timelines and financial situations for companies. The firm collaborates closely with investors to understand their goals, advising them on strategic investments, and streamlining processes.
The firm’s dual-strategy approach focuses on connecting investors with companies while enhancing entrepreneurs’ capacities to build sustainable businesses. Artem’s commitment to educating companies on ESG investing, along with technological and market validation, sets it apart in Malaysia’s evolving startup landscape.
In 2024, Artem Ventures remains bullish on Malaysia’s innovation and startup ecosystem. With government initiatives like Dana Impak and Cradle Fund, coupled with policies encouraging corporate investment in Venture Capital Funds, Artem aims to broaden its impact. The firm’s commitment extends beyond specific sectors, embracing an Environment, Social, and Governance (ESG) investment approach, ensuring a holistic contribution to progress and sustainability.