KUALA LUMPUR (March 29): Seven equity crowdfunding (ECF) and peer-to-peer financing (P2P) platforms have been selected to participate in the RM131.5 million New Industrial Master Plan (NIMP) 2030 Strategic Co-Investment Fund (CoSIF).  

The Ministry of Investment, Trade and Industry (Miti) said the ECF platforms are pitchIN, Mystartr, Leet Capital, and Crowdo, while the P2P platforms are Funding Societies Malaysia, CapBay, and B2B Finpal.  

“These platforms are registered with the Securities Commission Malaysia (SC),” it said in a statement on Saturday.

Jointly launched by Miti and the SC on Feb 25, the CoSIF, under the NIMP 2030, is intended to mobilise resources based on a public-private crowdfunding model.  

It aims to support companies engaging in high-tech activities or high-impact projects in strategic NIMP 2030 sectors that may require a large pool of capital.  

Miti said that with an initial allocation of RM131.5 million, the CoSIF will begin co-investing through these ECF and P2P platforms to support the growth of domestic small and medium enterprises (SMEs) and mid-tier companies (MTCs) in any of the 21 target sectors or four emerging growth areas outlined in the NIMP 2030. 

Miti Minister Tengku Datuk Seri Zafrul Abdul Aziz said that as current and future global growth will be driven by major advances in technology and artificial intelligence, the thousands of SMEs and MTCs in Malaysia’s business ecosystem must be supported.  

“So we, as a nation, can keep up technologically to remain competitive,” he said.  

On the CoSIF, Zafrul said the initial seven ECF and P2P platforms would enable the country to scale up by helping these companies enhance their economic complexity, adopt technology rapidly, or embark on their sustainability journey — missions set by the NIMP 2030.  

“Our collaboration with the SC and private-sector platforms reflects the government’s holistic, whole-of-nation approach to broad-based, sustainable economic growth,” he said.  

Hence, he said Miti urges SMEs and MTCs to come forward with their innovative projects to help accelerate the nation’s reindustrialisation journey.  

According to Miti, the seven ECF and P2P platforms were selected based on their relative contribution to the overall amount fundraised in the ECF and P2P ecosystem, and they are deemed fit and proper for admission into the CoSIF scheme.  

To receive funding from the CoSIF, companies must launch a fundraising campaign on any of the participating ECF or P2P platforms, which will then determine their eligibility for the CoSIF investment based on the fund’s criteria.  

“The criteria are aimed at achieving the objectives and targets under the NIMP 2030,” it said.  

The CoSIF will co-invest in an eligible company’s fundraising campaign at a pre-determined ratio based on the sector in which the company operates.  

Companies can begin applying for CoSIF funding from May 2.

Further information on the CoSIF, including the eligible sectors and co-investment ratios, is available on the fund’s dedicated webpage (https://www.sc.com.my/msme-mtc-roadmap/cosif).  

Any enquiries regarding the CoSIF can be directed to NIMPCoSIF@seccom.com.my. 

Uploaded by Tham Yek Lee