Artem Ventures Research
Overview
Artem Ventures is a Malaysia-based early-stage venture capital firm headquartered in Kuala Lumpur. Founded by Ng Sai Kit and Low Zhen Hui—two veteran corporate venture capital (CVC) practitioners with combined 20+ years of industry experience—Artem operates at the intersection of fintech, insurtech, and impact investing. The firm's mission is to promote financial inclusion and social security for underserved communities across Malaysia and Southeast Asia.
Investment Thesis
Artem Ventures invests with the belief that technology can be the great equalizer in financial services. Their thesis is centered on companies that "Invest in Tomorrow's Needs"—targeting founders building sustainable, adaptable businesses that tackle financial exclusion. The firm prioritizes startups that contribute social value alongside commercial returns, with a notable emphasis on women-led businesses, ESG-aligned companies, and Islamic finance-compatible business models.
Beyond capital, Artem differentiates itself through deep operational support: market access facilitation (domestic and regional expansion), ESG capability mentoring, business and financial strategy advisory, and talent acquisition assistance. They also run programming events including .Connect (founder growth support), .NET (networking), .ESGIgnite (ESG investing awareness), Grow (capacity programs), and PACE Bootcamp.
Fund Portfolio
TIM Ventures (Primary Fund)
Artem co-manages TIM Ventures, a RM45 million (~US$9.6 million) venture capital fund launched in partnership with FWD Insurance, a pan-Asian life insurer. TIM Ventures focuses exclusively on early-stage insurtech and Islamic fintech startups in Malaysia. Since its first investments in November 2022, the fund has backed 12+ local companies.
Neo Consumer Fund
Artem is also raising its Neo Consumer Fund, which targets companies in four verticals: food, materials, energy, and consumer products. The first investee was Origo Eco Sdn Bhd, a biodegradable straw manufacturer. This fund signals Artem's expansion beyond pure fintech/insurtech into sustainable consumer goods and circular economy.
New Tech Fund (2024)
Artem announced plans to launch a US$25 million technology-focused fund targeting tech companies across Southeast Asia, with a first close targeted for mid-2024.
Stage Focus
Artem invests at the earliest stages—Pre-Seed and Seed—and is typically among the first institutional investors in a company. They look for founders with early traction or strong domain expertise in their target sectors.
Check Size
Specific check sizes are not publicly disclosed. Based on the TIM Ventures fund size (~$9.6M) spread across 12+ companies, typical checks are estimated in the $250K–$1M range, with potential for follow-on reserves.
Lead Tendency
Artem frequently co-invests alongside other regional VCs (e.g., Gobi Partners, Plug and Play APAC). They are positioned as value-add co-investors who bring regional market access and operational support in addition to capital.
Geographic Focus
Primary focus is Malaysia. The firm actively supports regional expansion into Southeast Asia broadly, including Singapore, Indonesia, the Philippines, and other ASEAN markets.
Portfolio Highlights
HealthMetrics (HMS): Malaysia's leading digital TPA (Third-Party Administrator) platform streamlining employee healthcare benefits, claims, and analytics. Backed by Google Launchpad (2017). Serves 1,000+ corporate customers, 5,000+ healthcare providers, and 250,000+ individual users.
PayWatch Global: Southeast Asia's largest earned wage access (EWA) platform, enabling 200,000+ employees real-time salary access. Partners with Citi, OCBC, HSBC, and CIMB. Named Forbes Top 100 to Watch 2024. Operates across Malaysia, Philippines, Indonesia, South Korea, Singapore, and Hong Kong.
Valiance Health: Malaysia's first large-scale standardized healthcare data platform providing AI-powered value-based care infrastructure. Received Gobi Partners pre-seed in February 2026.
Protos Labs: Singapore-based cyber risk management platform. Raised SGD $3M in oversubscribed seed round (October 2023) with participation from Artem Ventures and Plug and Play APAC. Artem follow-on investment in August 2024.
MADCash: Shariah-compliant microfinancing platform for women entrepreneurs. Raised RM 5M (approx. $1M) in October 2023.
Ejen2u: Digital platform for entrepreneurs to manage reseller networks. Raised RM7M from Gobi Partners and Artem Ventures.
Qwork: Digital platform matching gig workers to employers across diverse industries.
Kiddocare: Malaysia's leading on-demand childcare platform using trained caregivers.
CaringUp: Data-driven medication adherence platform improving patient health outcomes.
Equitable Technologies: AI-powered health-tech platform delivering affordable colorectal disease screening for underserved communities.
Sonobee Ultrasound: Prenatal ultrasound services ecosystem in Malaysia.
Team
Ng Sai Kit, Managing Partner: Former corporate venture capital practitioner with extensive experience enabling CVCs to achieve strategic objectives. Co-founded Artem Ventures alongside Low Zhen Hui.
Low Zhen Hui, Managing Partner: CVC background, expertise in innovation and technology investment validation. Founding partner at Artem Ventures.
Tunku Omar Asraf, Partner: Joined the partnership team; involved in TIM Ventures deal sourcing and execution.
Foo Xin Yi, Project Lead: Operational support lead for portfolio companies.
Gowri Krishnan, Head of Marketing & Communications: Leads brand strategy, investor relations communications, and portfolio PR.
Lean Jia Yao, Analyst: Deal sourcing and due diligence support.
Ecosystem & Partnerships
Artem is a member of the Malaysian Venture Capital & Private Equity Association (MVCA) and a partner in Google's Startups for Sustainable Development programme. These memberships enhance their deal flow and portfolio company access to resources.