The Malaysia Co-Investment Fund (MyCIF) reported that a total of RM638 million have been co-invested in almost 35,000 equity crowd funding (ECF) and peer-to-peer (P2P) financing campaigns in 2022, benefitting some 3,635 Malaysian MSMEs.
In its Annual Report 2022 released today, MyCIF found that the total funds raised by ECF and P2P platforms rose by RM300 million to RM1.7 billion in 2022 from 2021.
Of the total, MyCIF invested RM282 million compared to RM193 million in 2021. MyCIF said the 26% year-on-year growth in the overall ECF and P2P markets reflected the growing investor and business interest in alternative financing options.
It also reached a higher proportion of under-served segments in 2022 where almost four times more agricultural issuers raised funds on ECF and P2P platforms.
MyCIF is a public-private co-investment vehicle administered by the Securities Commission Malaysia on behalf of the Ministry of Finance (MOF).
Since its inception, MyCIF has generated a positive net return on capital of RM16.5 million. Until the end of 2022, it has received a total allocation of RM230 million, with an additional RM40 million allocated in Budget 2023.
The Annual Report, as well as further details of MyCIF, can be found here.
“MyCIF has proven to play a key role in supporting the growth of the ECF and P2P lending spaces.
Approximately 10 times more firms have raised funds via ECF and P2P platforms since the inception of MyCIF.”
said SC Chairman Dato’ Seri Dr. Awang Adek Hussin.
