KUALA LUMPUR (March 17): Ekuiti Nasional Bhd said on Monday it is investing in a domestic cybersecurity firm Bluesify Solutions Sdn Bhd.

Transaction and financial details of the investment were not disclosed in the statement from the state-owned private equity firm also known as Ekuinas. The investment was made via Ekuinas’ Dana Asas I fund, Ekuinas said.

“Our investment in Bluesify is a crucial step towards fortifying Malaysia’s cybersecurity landscape and ensuring businesses have the protection they need against escalating digital threats,” said Ekuinas chief executive officer Datuk Syed Yasir Arafat Syed Abd Kadir.

Bluesify will expand its service offerings across the entire cybersecurity lifecycle and scale up its Managed Detection and Response Centre with Ekuinas’ capital, he noted.

Established in 2012, Bluesify was founded by Izman Ibrahim and Faroze Mohd Salleh. The company serves clients in sectors including financial institutions, energy and infrastructure, healthcare, government and statutory bodies.

The investment follows the enactment of Malaysia’s Cyber Security Act 2024 that mandates licensing for cybersecurity service providers and stricter regulatory compliance for business entities which are owners and operators of national critical information infrastructure.

“This investment marks a transformative milestone for Bluesify,” said Izman, who is the managing director of Bluesify. “We look forward to working with Ekuinas to take Bluesify to the next phase of growth.”