MAVCAP was incorporated on 19th April 2001 by the Government of Malaysia and was allocated RM500 million by the Minister of Finance Inc for investment in, nurturing and growing the technology sector and the investing and growing of venture capital market in Malaysia. It is a new and bold Government-initiated and private-sector managed move to continue to bolster and spearhead the country's charge towards a complete knowledge-based economy before 2020.

MAVCAP is a truly unique venture capital company in the way it is set up and managed. It is committed purely to the technology sectors and will invest in a mix of local and overseas businesses to bring together a successful blend of technologies and entrepreneurial skills.