Xavier Kong · · 2 min readGobi closes $10m fund, welcomes Allianz Malaysia as limited partner
VC firm Gobi Partners has brought its Malaysia-focused US$10 million Gobi SuperSeed II Fund to a close with the onboarding of investment holding company Allianz Malaysia as a limited partner.
Gobi Partners co-founder Thomas Tsao / Photo credit: Gobi Partners
The deal marks Allianz Malaysia’s first investment in a VC firm. However, its general insurance arm was an early partner of insurtech firm PolicyStreet and online property rental platform Speedhome, both of which are part of Gobi SuperSeed II Fund’s portfolio.
The fund, which targets early-stage tech startups in Malaysia, also has Malaysia Venture Capital Management and Sunway Group as limited partners. It will focus on startups that work in the segments of AI, big data, cloud, ecommerce, fintech, internet of things, and the Halal economy.
“We believe that both the fund and the portfolio companies will benefit substantially from Allianz’s ecosystem locally here in Malaysia as well as globally,” said Gobi co-founder Thomas Tsao.
Launched in 2020, Gobi SuperSeed II Fund can invest in up to 25 portfolio companies. Aside from PolicyStreet and Speedhome, it has invested in two other startups: tech news platform TechNode and Sunway Group’s innovation arm Sunway Innovation Labs.
Earlier this year, Gobi partnered with Malaysia-based social finance platform Ethis Group to launch a US$20 million Shariah-compliant fund.
See also: Can Malaysia find its niche as a Shariah fintech hub?
Editing by Miguel Cordon and Lorenzo Kyle Subido
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