EFront, a leading software provider of financial solutions for managing alternative investments, is pleased to announce the acquisition of an important new client, the leading venture capital and investment company in Malaysia.
This new win for eFront continues the expansion of its business across Southeast Asia, a region of accelerating economic growth.
The new eFront client is Malaysia Venture Capital Management Berhad (MAVCAP), a government-owned venture capital company that focuses on fostering new business development in Malaysia. MAVCAP is particularly strong in the information, communications and technology (ICT) sectors, investing heavily in strategic Malaysian-based enterprises. The company's goal is to further the government's mission to support and strengthen Malaysian entrepreneurship, particularly in the ICT sector.
According to Jamaluddin Bujang, CEO at MAVCAP, "We continually invest in new Malaysian businesses, and we therefore need to manage increasing amounts of investment data. eFront met all our needs with its FrontInvest solution and strong local team. They showed a clear understanding of our business needs and a commitment to our region."
MAVCAP intends to use FrontInvest for deal flow, portfolio management and collecting data via the investee portal. Using an investee portal for data collection was a key factor in the decision MAVCAP made to choose FrontInvest. The software's superior analytical capabilities related to portfolio management were highly influential, as well.
"We are very pleased to partner with MAVCAP, our first client in Malaysia, but not our first in Southeast Asia", commented Tarek Chouman, COO, eFront Asia & Middle East. "Malaysia is part of a dynamic and fast-paced region, with great economic potential, and eFront is committed to supporting the alternative investment and private equities industry there and throughout Asia."