And we’re off to a slightly slow start in September. Things should gradually ramp up over here.
So let’s get to it.
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When DealStreetAsia published on Monday that VC firm 500 Global was scaling down its ambitions in Southeast Asia, the news didn’t come as much of a surprise to me.
Aside from its US headquarters, 500’s other prominent office is here, at the AICB in Kuala Lumpur, sandwiched between Bank Negara and the Asia School of Business.
Its managing partner, Khailee Ng, is Malaysian, and he and the firm have been quite the fixture in the local VC space for some time.
But it’s been a tough year, not only for Malaysia, but the entire region, in terms of fundraising and exits.
Of course, a VC’s business is a VC’s business.
Who cares whether one grows or shrinks? They are too small to matter in the grander scheme of things.
Except when there are millions in government-linked money running through its veins, like that of 500.