# Malaysia Digital Economy Corporation

> Malaysia Digital Economy Corporation is a VC fund backing Mobile and Software. See 8 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: Selangor, Malaysia
- Total investments: 8
- Last investment: Sep 2023
- Lead investor: 38%
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/541094?trk=tyah&trkInfo=clickedVertical%3Acompany%2CclickedEntityId%3A541094%2Cidx%3A2-2-3%2CtarId%3A1462242574726%2Ctas%3Amdec
- X (Twitter): https://twitter.com/mymdec
- Website: http://www.mdec.my
- Facebook: https://www.facebook.com/mymdec

Malaysia Digital Economy Corporation is a VC fund in Selangor focused on Mobile and Software. The Multimedia Development Corporation (MDeC) was incorporated in 1996 to oversee the development of the MSC Malaysia and to advise the Malaysian Government on legislation and policies, as well as to set breakthrough standards for multimedia operations. Established in the same year, MSC Malaysia’s primary focus was to create an ideal andconducive platform to nurture Malaysian Small and Medium Enterprises (SMEs) in the ICT sector, to become world-class businesses whilst attracting participation from global ICT companies to invest in and develop cutting edge digital and creative solutions in Malaysia. Seventeen years on, MSC Malaysia has driven the development of the Malaysian ICT industry, enhanced technology adoption, and has made significant strides in increasing the economic impact and footprint of ICT for the nation. There are powerful economic and fiscal incentives for companies, both local and international, to apply for MSC status. Just as importantly, Malaysia has passed a number of effective new laws, which protect intellectual property and ensure freedom of thought and expression. This remarkable initiative has positioned Malaysia as a preferred ICT investment hub. Today, there are over 3,000 MSC Malaysia Status companies, employing over 140,000 people, these include: 373 companies in the Creative Multimedia Cluster, 115 Institutions of Higher Learning and Incubators, 2,392 Information Technology companies and over 280 Shared Services & Outsourcing providers. In 2012, MSC Malaysia revenue came in at RM 33.53 billion which was an increase of 5.7% from 2011, while exports grew to RM 11.6 billion which reflected a 14% rise from the previous year. This resulted in MSC Malaysia’s contribution to Gross Domestic Product (GDP) standing at 11.3 billion, recording a significant double digit growth of 18% from 2011. In October 2010, MDeC was given an additional task by the government, which was to develop a blueprint for a Digital Economy that draws from the huge opportunities created by the Digital world. This resulted in a programme called Digital Malaysia that was officially unveiled to the public in May 2012. Digital Malaysia is a natural progression to harness the building blocks already laid by MSC Malaysia. Founded on three strategic thrusts, of moving Malaysia from supply to demand, consumption to production and low knowledge-add to high knowledge-add, it ultimately aims to create an ecosystem that promotes the pervasive use of ICT in all aspects of the economy and the first eight projects are already under implementation. This will in turn connect communities globally and enable them to interact in real time, increase the country’s Gross National Income, enhance business productivity and improve the standards of living.. Ultimately, Digital Malaysia aims to turn Malaysia into a developed digital economy by 2020, that connects and empowers the government, businesses and citizens. Today, both MSC Malaysia and Digital Malaysia run concurrently to spur Malaysia’s ICT industry development and digital economic growth, under the purview of MDeC.

## Contacts

5 contacts available for Malaysia Digital Economy Corporation. Shizune tracks 6 team members at Malaysia Digital Economy Corporation. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/multimedia-development-corporation-mdec?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Seed | $32k–$96k |
| Grant | $45k–$230k |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Mobile | 2 | 25% |
| Software | 2 | 25% |
| Information Technology | 2 | 25% |
| B2B | 1 | 13% |
| RFID | 1 | 13% |

24 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Grant | 4 | 50% |
| Seed | 2 | 25% |
| Debt Financing | 1 | 13% |

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Malaysia | 6 | 75% |
| United States | 1 | 13% |

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Jenna Huey Ching | FinTech Division | 0 | https://shizune.co/investors/profile/jenna-huey-ching |
| Norhizam Kadir | Vice President, Growth Ecosystem Development | 0 | https://shizune.co/investors/profile/norhizam-kadir |
| Wan Murdani | Director, Digital Enablement | 0 | https://shizune.co/investors/profile/wan-murdani |
| Dato’ Munirah Looi | Mentor: MDEC GAIN Mentoring Program - Mentor | 0 | https://shizune.co/investors/profile/dato-munirah-looi |
| Mahadhir Aziz | Founder & CEO | 0 | https://shizune.co/investors/profile/mahadhir-aziz |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Acxyn | Acxyn aims to eradicate the economic dilemma for games by delivering tangible means to access the true economic potential of Web3 – creating the flywheel potential of sustained economic viability and long term impact in the way games are designed and valued.In a nutshell, we are building critical economic infrastructure for games entering intoWeb3 that will not only ease adoption of the decentralised web but also unlock the true economic potential of games, where they have complete ownership of their revenue streams and game communities.Powered by an underlying value economics designed to bootstrap game devs with a highly-adaptive and robust rewards system, and coupled with no-code tools that deliver vital insights, Acxyn will help game devs enhance the visibility and value of their IPs and as a result, their investability. | $159.7K | Grant | Sep 29, 2023 |  |
| WIPDATA | WipData is a data centric consulting firm that serves a broad mix of private, public and social sector institutions. We help our clients make significant and lasting improvements to their performance by embracing the use of data driven decision | $32K | Seed | Sep 10, 2023 |  |
| WIPDATA | WipData is a data centric consulting firm that serves a broad mix of private, public and social sector institutions. We help our clients make significant and lasting improvements to their performance by embracing the use of data driven decision | $95.8K | Seed | Sep 10, 2022 |  |
| du-it | du-it is a Fintech that provides revolutionary payment solution for businesses & customers through 'Buy Now , Pay Later' business model. | $50K | Debt Financing | Feb 21, 2022 |  |
| Algobizz Berhad | Company Background Algobizz Berhad is a company wholly holding iBiZZCLOUD SDN BHD as the operational company of iBiZZtax, a Cloudtax Solution Development company focused on serving the Professional Industry, primarily Tax Agents and Tax Consultants. The company received recognition as a Malaysia Digital (MD) Status company on 8 April 2024,signifying its commitment to easing the complexities of taxation procedures and instant e-filing processes. Being the one and only cloud system provider endorsed by Inland Revenue Board of Malaysia, iBiZZCLOUD has assisted over 830 tax professionals in digitizing their tax business since the launch of the cloud system.This platform streamlines taxation processes, enhances efficiency, reduces errors, and cuts operational expenses. Tax professionals can access client data remotely via any internet-enabled device, enabling prompt advisory services. Cloudtax addresses common pain points of tax professionals using Excel, which struggles with rapid tax compliance changes. Unlike Excel, Cloudtax features built-in formulas for accuracy and consistency. Tax return filing takes only 3 seconds through Web-API integration with the government portal, minimizing processing time and eliminating redundant data entry. Additionally, accelerated national tax collection would be welcomed by the government.With the significant value creation prompting tax professionals to embrace digital transformation, iBiZZCLOUD was selected as the Technology Solution Provider by MDEC since 2020, offering additional assistance to tax professionals in their digital adoption journey through grant application support.Besides Malaysia, the company has a presence in Indonesia and is rapidly expanding its business to Southeast Asia.​ Our Vision: To build a Digital Tax Economy Ecosystem for the 15 member countries of the Regional Comprehensive Economic Partnership (RCEP).Our Mission: To continuously explore the field of AI technology in tax software industry towards providing simplified process of tax system. | $197.4K | Grant | Dec 01, 2021 |  |
| FLEXIROAM | Flexiroam works with an overseas SIM to allow you to make & receive unlimited international roaming calls. It is the cheapest way to roam without worry when you travel overseas. | $230K | Grant | May 21, 2014 |  |
| Hezmedia Interactive | Hezmedia is a Malaysian-based edutainment game company focusing on developing high quality and educational games for childrens in the digital age. Hezmedia’s current flagship product is a Massively Multiplayer Online Games (MMOG)-based learning for kids called Math Quest to let them learn and explore Mathematics in an engaging and vast virtualworld. : www.math-quest.com Hezmedia also develop games for edutainment portals, advergames, social games and MMOs for local and international clients. | $50K | Seed | Jul 02, 2009 |  |
| AugmentWare | AugmentWare specializes in customized software development and workflow automation solutions.The company's main strength lies in developing very customized software for the manufacturing industry, specifically for tracking and mobile applications that are integrated into enterprise systems.However, based on AugmentWare'sexperience, the company is now moving towards developing a flagship product called "AugmentWare WorkFlow" that comes as an off-the-shelf package which automates any kind of business process or workflow in any industry with minimal customizations. The product, "AugmentWare WorkFlow", will be due for launch by the fourth quarter of 2009. | $45K | Grant | Feb 01, 2009 |  |

8 of 8 investments shown.

## Co-investors
- [Bank Negara Malaysia](https://shizune.co/investors/profile/bank-negara-malaysia) — VC Fund, 1 deal together
- [Cradle Fund](https://shizune.co/investors/profile/cradle-fund) — VC Fund, 1 deal together

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## FAQ

### What does Malaysia Digital Economy Corporation invest in?

Malaysia Digital Economy Corporation invests primarily in Mobile, Software and Information Technology startups, most often at Grant and Seed stage. Most of the 8 investments tracked by Shizune back companies in Malaysia. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Malaysia Digital Economy Corporation's check size?

Malaysia Digital Economy Corporation typically joins rounds of $32k–$96k at Seed and $45k–$230k at Grant. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Malaysia Digital Economy Corporation participates in.

### How do I contact Malaysia Digital Economy Corporation?

Public channels for Malaysia Digital Economy Corporation include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Malaysia Digital Economy Corporation?

The team at Malaysia Digital Economy Corporation includes Jenna Huey Ching (FinTech Division), Norhizam Kadir (Vice President, Growth Ecosystem Development) and Wan Murdani (Director, Digital Enablement), among 6 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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