MTDC and Tradeview launch RM20 mil public-private tech VC fund

The Malaysian Technology Development Corporation (MTDC) and Tradeview Capital Sdn Bhd launched the MTDC Tradeview Quantum Fund on 13 March 2026, deploying RM20 million in initial seed capital through a 50:50 joint venture entity called Modal Lestari Sdn Bhd (The Edge Malaysia). It is MTDC's first public-private investment fund and the first joint venture of its kind between a licensed fund management company and a government-linked venture capital firm, according to the Ministry of Science, Technology and Innovation. Modal Lestari will target seed to Series A investments of RM1 million to RM2 million per company, across semiconductors, Industry 4.0, green energy, agritech and fintech, with an initial deployment of five to six companies under an eight-year fund life.

The deal

The structure sits on a 50:50 ownership split between MTDC — a government-linked technology development corporation under the Ministry of Science, Technology and Innovation — and Tradeview Capital Sdn Bhd, a Kuala Lumpur-based licensed fund management company with a focus on the small- and mid-cap space. The Quantum Fund is housed in Modal Lestari, a new joint venture entity that will act as the venture fund management company for the collaboration. The RM20 million capital is committed equally by both sides, with no third-party LPs at first close.

MTDC group chief executive officer Mohammad Hazani Hassan said the fund will run for about eight years and is expected to invest in five to six startups using the initial RM20 million, with "additional funds may be launched depending on the performance of the first fund, with plans to attract more private investors to participate." Tradeview Capital founder and CEO Ng Zhu Hann signed the joint venture agreement at a ceremony in Kuala Lumpur on 13 March, witnessed by Science, Technology and Innovation Minister Chang Lih Kang. The deal was also reported by Bernama, The Sun and Astro Awani on the same day.

Why this matters

Two structural points are worth flagging. First, this is MTDC's first public-private partnership at the fund-vehicle level — a sign that Malaysia's state technology financier is moving away from wholly state-backed vehicles and toward co-investment models that crowd in private fund managers. The 50:50 split is unusually balanced: in most government-linked venture deals, the private side takes a minority stake or acts only as a fund manager for a fully state-backed pool. By contributing half the capital, Tradeview has both capital risk and management control through the Modal Lestari structure. Tradeview board member Norlin Abdul Samad framed the contribution as capital-markets expertise — particularly in the small- and mid-cap space — plus listing-readiness support to position portfolio companies for a potential public offering on Bursa Malaysia.

Second, the public-private template is explicitly designed to be replicated. Chang Lih Kang said at the launch that the model could be "replicated to support more companies in the future" if the initial deployment tracks, signalling a pipeline of similar 50:50 vehicles if Quantum Fund I performs. That puts Quantum Fund I in a test-bed role for the wider MOSTI funding architecture, alongside the existing MTDC grant programmes, Cradle's seed grant stack, and the broader Khazanah-led Dana Impak / Jelawang Capital fund-of-funds channel that has been deploying since 2024. The Edge reported the launch as the first JV of its kind between an SC-licensed fund management company and a government-linked VC firm — a structural template that, if it works, could be picked up by other GLC venture arms (SME Corp, MAVCAP, MTDC's sector peers) that have so far stuck to wholly state-backed vehicles.

The sector mix is also notable. The Quantum Fund's focus on semiconductors, Industry 4.0, green energy, agritech and advanced manufacturing closely tracks the same verticals that the Ministry of Investment's Co-Investment Scheme (CoSIF), the National Semiconductor Strategy and the New Industrial Master Plan 2030 have prioritised in 2024 and 2025. For founders in those verticals, the new vehicle adds another ring to Malaysia's increasingly layered capital stack: Cradle and MTDC grants at the earliest stages, the Quantum Fund's RM1-2 million tickets at seed and pre-Series A, CoSIF co-investment at Series A, and Dana Impak / Jelawang Capital vehicles for follow-on rounds. Tradeview's pre-IPO capital markets expertise is positioned as the bridge to a future listing on Bursa — the test of whether the public-private model can produce a listed Malaysian tech name.

What's next

Three milestones to watch. First, the first cheque — the fund has stated an initial target of five to six portfolio companies, and the first investment announcement will be the first concrete read on whether the RM1-2 million ticket sizes hold in practice and which of the seven named verticals gets funded first. Second, follow-on fundraising: Chang Lih Kang explicitly framed the RM20 million as a starting size, with replication or follow-on vehicles on the table if the first fund performs. Third, exit visibility: with Tradeview's pre-IPO expertise built in, any portfolio company that progresses to a Bursa ACE Market or LEAP Market listing would be the live test of whether the public-private model can produce a listed Malaysian tech name out of a 50:50 state-private vehicle.

Source: The Edge Malaysia — MTDC, Tradeview launch RM20 mil venture capital fund