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TLDR:
- Khazanah Nasional Bhd has completed the acquisitions of Malaysia Venture Capital Management (Mavcap) and Penjana Kapital (PK).
- The acquisitions aim to strengthen Malaysia’s venture capital ecosystem and improve public institutions.
Khazanah Nasional Bhd has successfully completed the acquisitions of Malaysia Venture Capital Management (Mavcap) and Penjana Kapital (PK), aligning with the key objectives of the Malaysia Madani Budget 2024. These strategic acquisitions are aimed at enhancing Malaysia’s venture capital (VC) ecosystem and improving public institutions. Upon completion, Mavcap and PK will become wholly-owned subsidiaries of Khazanah, with the goal of establishing a National Fund-of-Funds with an initial allocation of RM1 billion to invest in innovative and high-growth startups via VC and private equity funds.
The integration of Mavcap and PK represents an opportunity to build on solid foundations while implementing new initiatives to further strengthen Malaysia’s VC ecosystem. This consolidation of investment platforms across multiple agencies aims to ensure greater funding sustainability, attract private capital, and catalyze strategically important sectors. The establishment of a national fund-of-funds aligns with Khazanah’s Future Malaysia Programme, supporting the local startup ecosystem and driving economic growth.
By combining resources and expertise, Khazanah aims to enhance access to capital for startups, drive innovation, and spur economic growth in line with Malaysia’s vision to become a preferred regional VC hub by 2030. The contributions of Mavcap and PK to the VC ecosystem have been instrumental, and Khazanah looks forward to achieving the collective vision of advancing Malaysia through these strategic acquisitions.
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