KUALA LUMPUR (Sept 21): Kumpulan Wang Persaraan (Diperbadankan) (KWAP) is setting up a RM500 million new fund, dubbed Dana Perintis, that focuses on investments into venture capital (VC) funds and startups in Malaysia.
The fund aims to invest up to RM250 million each into selected Malaysia-focused VC funds and as direct investment into startups over the course of the next 18-24 months, said KWAP.
These VC funds will play a role in identifying and nurturing early-stage companies, offering them resources and support growth.
Meanwhile, KWAP’s direct investments are meant to enable startups to scale-up and expand their business operations.
“With an allocation of RM250 million for each pillar, KWAP’s initiative aims to accelerate growth within the Malaysian entrepreneurial landscape in line with KWAP’s sustainability commitment as a signatory of the UN Principles for Responsible Investment,” the RM184.5 billion fund said in a statement on Thursday.
As one of Malaysia’s prominent investors, KWAP, a pension fund for local civil servants, said it seeks to play a pivotal role in steering the nation toward a flourishing early-stage ecosystem.
“With Dana Perintis, we are not just investing financial capital, but also putting in our expertise, resources, and commitment to seeing these Malaysian startups succeed on a global stage, especially with the ones we are directly involved in,” said KWAP chief investment officer Hazman Hilmi Sallahuddin.
“We are dedicated to empowering startups and SMEs, supporting employment, and nurturing innovation. In realising these visions, KWAP has already identified several potential startups to invest in, which currently employ more than 1,000 Malaysians from different backgrounds,” he added.
While KWAP said Dana Perintis has a few priority sectors to invest in, like the silver economy, food security, education, energy transition, financial inclusion and digital economy, it will not be exclusively limited to these industries.