- Singapore based firm offer loans to Malaysian blockchain startups.
- LuneX is looking to capitalize on Malaysian blockchain talent.
- Loans start from $100,000 to millions.
Malaysia based digital startups are now facilitated with the opportunity to secure loans under the growth funding banner. The Singapore based firm dedicated to playing its role in the impact of blockchain technology announced the new loan program.
The program calls for crypto entrepreneurs and Malaysian blockchain startups as visionaries setting forth groundwork for an industry bound to change monetary mechanisms of the future. The firm is likely to invest in the initial stage after learning about the startups’ proof of concept, anywhere between $100,000 to a few million.
Government onboard the loans Malaysian blockchain startups program
MAVCAP (Malaysia Venture Capital Management Berhad), founded in 2001 by the Malaysian government with the sole purpose of venturing within digital space and linking potential startups to “venture capitalists,” is said to have invested in LuneX growth as well. Malaysian markets continue to see a consistent growth marker with newbies adapting to cryptocurrencies more and more.
Kenrick Drijkoningen, Co-founder of LuneX Ventures, noted Malaysia’s strength tech talent and the eagerness among the young crowd to integrate cryptocurrency within business structures. Along with the support of MAVCAP, he further stated, is on the lookout for Malaysian blockchain startups to fund and facilitate growth brackets.
Identifying the rich potential of these startups backed up with Malaysia’s economy with cross border movements, Drijkoningen believed Blockchain technology can remarkably enhance its financial economy.
Drijkoningen pointed out South East Asia’s IT startup booms in the last decade. The absence of a venture capitalist (VC) in the region dedicated to blockchain technology was a growing need of the market LuneX aims to fulfill.
With a varied portfolio, Lunes has been associated with market gamers like Kyber Ethereum, crypto-finance firms, namely Merklescience (AML solution), Sparrow (Exchange), and crypto-based technologies like Accredify and Keyless. DEXTF, Bank of Hodlers, Fleek, Blue Wallet are a few other firms funded by LuneX venture capitalization efforts.