Richard Guziak, head of the SBEM Warsaw office, said Poland was chosen as the fund's headquarters in central and eastern Europe in view of the fast growth of information technologies in the country.
SBEM, set up in March 2000, has $200 million at its disposal.
When we chose Malaysia as the first office for SBEM and the regional hub for Southeast Asia, we took into account various factors including the commitment to Internet development, adequate penetration of telephone, wireless and broadcast systems and the emergence of potential new businesses and local partners,'' SBEM chief executive officer Matt Rothman said.
Laying out their strategies, SBEM Malaysia managing director David Low said his company will identify and fund promising local Internet business concepts and help build them into successful global dotcom firms.
SBEM Malaysia expects to invest in five to 10 new ventures annually.
SBEM Malaysia will also import ''best-of-breed'' global dotcom businesses into Malaysia.
SBEM Malaysia's main investment strategies for Malaysia and Southeast Asia are two-pronged.
Firstly, we will facilitate the growth of Internet ventures through direct investments," said SBEM Malaysia's Managing Director, David Low.
Secondly, SBEM Malaysia will import best-of-breed global Internet businesses into Malaysia.
The SBEM model has limitations in terms of building location information, only offering weather data for London, Manchester and Edinburgh, perhaps a little odd considering the new regulations do not apply to Scotland.
Construction consultants previously used other bespoke software packages enabling more complex buildings to be modelled than the current SBEM software allows.
Training in the use of SBEM software was not widely available to all construction professionals within the industry before the implementation date.