MAVCAP set to hit $50m first close for Meranti Fund, Elixir-partnered Islamic Fund

Malaysia Venture Capital Management Bhd (MAVCAP) plans to announce a $50 million first close for two of its funds that will be launched this year — Asean Growth Fund (Meranti Fund) and Global Islamic Economy Fund, and the combined size of the two vehicles will be about $450 million, a top executive with the government-owned venture capital firm told this portal in an interaction.