Malaysian state giant Petronas has set up a $350 million venture capital arm, eyeing direct investments in technology start-ups, advanced materials and speciality chemicals, future energy as well as access into new markets, writes Anamaria Deduleasa.
The Petronas Corporate Venture Capital (CVC) fund will focus not only on North America and Europe, but also on Asia-Pacific and Malaysian start-ups, “to spur local entrepreneurship and venture capital ecosystem”, Petronas said.
