FWD Group Holdings Limited announced the launch of TIM Ventures, a MYR45m (USD10m) venture capital fund in collaboration with Artem Ventures, a Malaysia-based venture capital firm, to invest in emerging start-ups in the insurtech and Islamic fintech space in Malaysia. SMEs are a critical component of the Malaysian economy, contributing more than a third of gross domestic product and providing job opportunities to more than four million workers in Malaysia. By launching TIM Ventures, FWD managing director and group COO Sim Preston said they hope to support early-stage entrepreneurs in Malaysia by not just providing them with financing, but also helping to connect them with the networks and expertise they need to succeed. The fund has already invested in four startups, including winners from the FWD Start-Up Studio, a pre-accelerator programme launched in 2021.
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