Kuala Lumpur-based venture capital (VC) firm Vynn Capital has entered into a partnership with Marubeni Malaysia—a subsidiary of Japanese trading house Marubeni Corporation—to work together regarding business synergy, market access and expansion, as well as innovation.
Victor Chua, the founding and managing partner of Vynn Capital told DealStreetAsia today that the two companies signed a memorandum of understanding (MoU) on the matter last month.
“We’re looking at how we can bring both of our networks together. There are some good opportunities to bring some of our portfolio tech companies to work with Marubeni Malaysia. And Marubeni saw value in working with us… to tap into the ecosystem that Vynn Capital has so that they can expand their business in Malaysia,” Chua said.
He said that neither Marubeni Malaysia, nor its parent company, has become a limited partner (LP) in Vynn Capital, which has backed startups such as Carsome, Dropee, and Travelio.
Speaking on which industries the partnership would focus on, Chua said that by virtue of Vynn Capital being a supply chain and mobility industry-focused VC firm, there will likely be more developments around the two sectors.
“But given our footprint in Malaysia, I think we will be able to support their [Marubeni’s] other industries as well, because, for example, in healthcare or chemicals, they will still need a value chain or supply chain that can distribute their products across the country or for exportation,” said Chua.
“So that’s also where we can come in to provide some insights or bring companies to help them in making those processes more efficient as well,” he added.
Marubeni Corporation is a Japanese multinational trading and investment company that operates in various industries, including energy, agri-business, chemicals, and infrastructure.
It has branches in Malaysia, Indonesia, Vietnam, the Philippines and numerous other countries across six continents.
Chua said that he had been in talks with Marubeni executives since April last year, which culminated in the current MoU.
Vynn Capital is a Southeast Asia-focused, early-stage venture capital firm whose key industries are supply chain and mobility “including but not limited to logistics, travel and FMCG (fast-moving consumer goods)”.
According to its website, Vynn Capital has also entered into partnerships with the Pacific Asia Travel Association, World Tourism Organisaion, Vietnam’s Ministry of Science and Technology, as well as global logistics and courier company DHL.
In a statement released by Vynn Capital on Wednesday, Marubeni Malaysia representative Takeshi Fujiwara said: “We
are thrilled to collaborate with Vynn Capital, with their strong portfolio of investments in various sectors, in
exploring new business opportunities and operations locally and regionally to contribute to the growth of Marubeni’s business ecosystem.