TLDR: KWAP invests $21 million in Malaysian startups and VC funds
Malaysia’s pension fund, Kumpulan Wang Persaraan (Diperbadankan) (KWAP), has announced its initial investments under the Dana Perintis strategy. The investments include $21 million in two local startups and commitments to two venture capital funds. KWAP has shown support for Bateriku (M) Sdn Bhd and Lapasar Sdn Bhd, and has also allocated investments to Vynn Capital and Antler, two venture capital firms.
KWAP’s Chief Investment Officer, Hazwan Hilmi Sallahuddin, believes that these investments align with KWAP’s goal to strengthen innovative concepts and contribute to the Malaysian startup ecosystem. He expresses confidence in the success of these investments and KWAP’s commitment to collaborating closely with the invested entities to ensure their growth and expansion.
The Dana Perintis strategy, launched in September 2023, aims to expedite the growth of the Malaysian early-stage ecosystem and deliver substantial returns for beneficiaries through investments in startups and venture capital funds. The focus areas of Dana Perintis include the digital economy, financial inclusion, food security, education, the silver economy, and climate change.
The investments in Bateriku (M) Sdn Bhd and Lapasar Sdn Bhd align with the strategy’s goals in the automotive service and fast-moving consumer goods (FMCG) sectors respectively. Bateriku plays a crucial role in job creation and financial inclusion, while Lapasar drives digitalization across various industries through its online wholesale marketplace.
Vynn Capital, one of the venture capital funds that KWAP has invested in, focuses on seed-stage investments in the mobility and supply chain sectors. Antler, on the other hand, supports startups from pre-seed to Series A and beyond.
KWAP’s Chief Investment Officer, Hazman Hilmi Sallahuddin, believes in the potential of these investments and expects more investments and announcements as KWAP progresses with its strategic initiative.
The founders of Bateriku and Lapasar, Azarol Faizi and Thinesh Kumar respectively, express their excitement and commitment to the partnership with KWAP and the Dana Perintis initiative. They believe that these strategic investments will enable their companies to grow and contribute value to the Malaysian startup ecosystem.
