The Employees Provident Fund (EPF) has announced a strategic collaboration with Pan-Asian venture capital firm Gobi Partners, committing RM250 million to support the growth of mid-to-growth stage companies in Malaysia.
This partnership is aimed at fostering the development of various sectors within the Malaysian economy, with an emphasis on harnessing the potential of emerging companies.
The funds will be allocated across six areas of strategic importance including financial services inclusivity. The additional areas targeted for investment include Healthcare, emphasising aged care and the silver economy; Agriculture and Food Science, with initiatives to improve the food production ecosystem; Sustainability, with a specific focus on energy transition; Education, aimed at providing quality education; and Social Infrastructure.
In line with the Madani Economy Framework, the EPF aims to complement the efforts of other Government-Linked Investment Companies (GLICs) in nurturing the early-stage ecosystem.
The initiative seeks to address market gaps, encouraging the advancement of early-stage companies towards achieving robust growth and delivering attractive returns.
The investment initiative is a component of EPF’s larger strategy to expand its presence in the domestic market, where it is one of the leading investors with assets under management worth RM702.48 billion as of December 2023.
Ahmad Zulqarnain Onn, Chief Executive Officer of EPF said,
“The EPF is committed to participating in the growth journey of high-potential companies in Malaysia as we align our strategy with the development of an inclusive social protection ecosystem.
In the long run, we hope this effort contributes to building a resilient society to economic and social challenges while delivering profitable returns for our members.”
Thomas G. Tsao, Co-Founder and Chairperson, Gobi Partners said,
“Gobi Partners is proud to stand alongside the Employees Provident Fund in this significant commitment towards the growth of mid-to-growth stage companies in Malaysia.
Our strategic focus on the six key themes underscores our dedication to driving innovation and creating lasting socio-economic impact.”
Featured image credit: Edited from Freepik
