OPENING NEW OPERATIONS HUB IN MALAYSIA
Mountain Partners announces its new operation hub Mountain Malaysia by acquiring the Malaysian venture capital company Qeerad Holdings Sdn Bhd. For Mountain Partners, this deal signifies the further expansion of the company’s global presence and its Southeast Asia operations, which already span Indonesia, Thailand and the Philippines.
Mountain Malaysia aims to establish a start-up incubator and build young, disruptive tech businesses in Malaysia, particularly in the e-commerce & web services, digital payments & fintech and technology & security sectors. In addition to seed stage funding, Mountain Malaysia will now work very closely with entrepreneurs to both build on existing strengths of teams as well as addressing skill and knowledge gaps through mentorship and workshop programmes.
Marco Stutz, Business Development Manager at Mountain Partners is excited about the expansion, as “Malaysia is a great step for Mountain Partners to cover the next important high-growth market. In Qeerad we have found a highly experienced and successful partner and we are looking forward to combining our strengths to become a strong locally rooted company builder.”
Qeerad is a Malaysian venture capital company specialized in seed stage investments. From Qeerad’s side, the deal marks a shift away from angel investment towards offering holistic support and growth opportunities to their portfolio companies.
The newly formed Mountain Malaysia will be led by former Qeerad Managing Director, Hassan Alsagoff as founding CEO. Along with years of experience at the heart of the start-up world and the realm of advertising, Hassan Alsagoff brings to the table a passion for leading and motivating teams.
The deal arises from over six months of discussions and salutes the aligned visions of the two companies to bring exceptional tech ideas to market. Hassan Alsagoff stated “We were presented with the exciting opportunity to leverage on Mountain Partners’ global strategy, which opens up the potential to tap into a vast network of contacts and resources across Asia, Middle East & Africa, Latin America and of course Europe. And above all,” says Hassan Alsagoff, “we want to contribute towards the Mountain Partners vision of making great technologies available to people all around the world.”