(From left): Halogen Capital founder & chief business officer Lucas Ooi Ki Siong, founder and chief operating officer Ng Moon Ho, and founder and CEO Liew Ooi Hann, with Kenanga Investment Bank Bhd group MD Datuk Chay Wai Leong, Kenanga Investors Bhd (KIB) executive director & CEO Datuk Wira Ismitz Matthew De Alwis, KIB director and head of product & market development Ranjit Singh Gill, as well as Kenanga Private Equity Sdn Bhd CEO Datuk Kenny Yong Foo Ken.
KUALA LUMPUR (Dec 15): Kenanga Investment Bank Bhd has emerged as the lead investor in Halogen Capital Sdn Bhd after acquiring the largest institutional stake of 14.9% in the digital asset fund manager.
The investment was made through Kenanga’s wholly owned subsidiary, Kenanga Private Equity Sdn Bhd, following Halogen’s completion of a RM13.3 million (US$3.2 million) funding round.
The exact amount invested by Kenanga for the stake in the country’s first licensed digital asset fund manager was not disclosed.
According to Kenanga, the funding — which also drew participation from global venture capital firm 500 Global and other investors — will be used to advance Halogen Capital’s real-world asset (RWA) tokenisation strategy, covering onshore unit trust funds, bonds, sukuk, private credit and real estate.
In a statement on Monday, Kenanga Group managing director Datuk Chay Wai Leong said the investment marks a key step in building the group’s digital asset ecosystem, alongside its other investments in digital-first businesses such as KDX, Helicap and Merchantrade.
“Our conviction is that the future of finance will be driven by innovation, supported by strong governance and transparency,” he said, adding that blockchain and tokenisation could make capital markets more efficient, accessible and globally competitive.
Halogen Capital founder and chief executive officer Liew Ooi Hann said the funding round represents an important milestone in developing Malaysia’s institutional digital asset investment landscape. He noted the growing global institutional participation in digital assets, with corporate crypto treasuries now holding more than RM744 billion (US$181 billion).
“Demand for regulated and professionally managed exposure has accelerated over the past three years, and with the backing of leading investors, we are well positioned to expand product innovation and access,” he said.
Founded in 2023, Halogen Capital pioneered the world’s first shariah-compliant cryptocurrency funds and has since grown assets under management to about RM400 million as of November 2025. Its flagship Halogen Shariah Bitcoin Fund is among Malaysia’s top-performing funds, according to London Stock Exchange Group Lipper data.
The firm currently serves thousands of investors, including high-net-worth individuals, family offices, corporates and institutions across eight wholesale funds and private mandates, supported by more than 15 distributors.
Halogen Capital said future offerings will include new digital asset investment products, crypto yield solutions and tokenised securities backed by onshore Malaysian assets, aligned with ongoing regulatory efforts by the Securities Commission Malaysia.