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Skymind, a UK-based US$800M Fund, Expanding to Grow AI Ecosystems of Indonesia, Malaysia

The fund sees strong potential in Malaysia and Southeast Asian to build a thriving AI ecosystem and make the region a global AI hub

Skymind Global Ventures (SGV), an Artificial Intelligence-focused startup fund-cum-accelerator based in London, is planning to expand to Malaysia and Indonesia in Southeast Asia.

This is part of Skymind’s global expansion plans to focus on training and investment in new AI technologies.

In January, Skymind launched a US$800 million fund to back promising new AI companies and academic research across the UK and globally.

The fund is led by Founder and CEO Shawn Tan. Joining Tan is Skymind Co-founder and Eclipse Deeplearning4j creator, Adam Gibson, as Vice President. Gibson will manage Skymind’s software division Konduit, which delivers and supports Eclipse Deeplearning4j to clients, as well as offers training development.

Skymind plans to train up to 200 AI professionals for its operations in London and Europe and eventually expand the programme into Southeast Asia.

The use of AI and industry acceptance has been growing steadily internationally, particularly in Southeast Asia. The region has been identified as one of the target markets for the investment fund, with a significant portion of the US$800 million to be made available to growing the region’s ecosystem.

“SGV sees strong potential in Malaysia and the Southeast Asian region to build a thriving AI ecosystem. From talent to incubating innovative startups, this region requires the tools and expertise to become a global AI hub,” Tan said.

Shawn also believes that Malaysia has a lot of untapped potentials to build AI talent and the ecosystem in terms of partnerships and implementing solutions. SGV will use its London base to back research and development and generate business opportunities across Europe and Asia.

SGV is a dedicated AI ecosystem builder, enabling companies and organisations to launch their AI applications and bring their business cases to life. It provides clients with supported access to Eclipse Deeplearning4j and other open-source tools as well as global capital funding and talent development.