Kumpulan Wang Persaraan (KWAP), Malaysia’s pension fund, has launched a RM500 million fund called Dana Perintis to boost the country’s venture and startup ecosystem.
KWAP said it will invest RM250 million in VC funds focused on Malaysia, ranging from accelerators to growth managers, and the remaining RM250 million directly in early-stage companies.
The fund launch is aligned with the Economy Madani initiative, which focuses on empowering small and medium-sized enterprises (SMEs) and fostering economic growth.
KWAP has already identified several potential startups to invest in, which currently employ more than 1,000 Malaysians.
“KWAP recognises the potential for innovation and growth within Malaysia’s venture ecosystem. We are proud to introduce Dana Perintis, an initiative that also serves as a testament to our commitment to enhance the growth of Malaysia’s startup industry.
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. We are dedicated to empowering startups and SMEs, supporting employment, and nurturing innovation.”
said Hazman Hilmi Sallahuddin, Chief Investment Officer of KWAP.
