The council, spearheaded by the Singapore Venture Capital & Private Equity Association (SVCA), invited both countries’ representatives to officiate a Memorandum of Understanding (MoU), signed in Singapore on October 11, dealstreetasia.com reports.
The MoU was also signed by Singapore Venture Capital & Private Equity Association (SVCA), Asosiasi Modal Ventura Untuk Startup Indonesia (AMVESINDO), Thai Venture Capital Association (TVCA).
The addition of the new member countries will strengthen each country’s associations to collaborate and leverage their individual capabilities, synergies and best practices which in turn will support the regional entrepreneurial and financial ecosystem across the ASEAN region.
The ASEAN Venture Council will be an umbrella organisation consisting of venture associations interested in the promotion of the ASEAN Venture Capital Ecosystem. It is intended to enable its member associations to promote and develop the venture capital industry in the areas of events, advocacy, research, education and deal flow.
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