500 Startups’ Southeast Asia fund, 500 Durians, along with Malaysia’s Cradle Fund and investment holding firm SMG, has injected US$787,000 into an upcoming Kuala Lumpur-based co-working space.
“Entrepreneurship is at an all-time high, and young founders are turning to co-working to tap on the vast networks available,” 500 Startups managing partner Khailee Ng says in a statement. The VC wants to take part in “this movement,” he adds, by investing in Worq.
Worq’s first outlet, located in shopping mall Glo Damansara, will house 400 members – businesses, organizations, entrepreneurs, and freelancers. Its membership options include hot desks, dedicated desks, and private rooms, with a host of amenities. Rates start at US$2.25 a day.
“Malaysia is a great place to build this community due to the amount of entrepreneurship spirit inherent in our culture….