Malaysia $18 Billion Sovereign Wealth Fund Khazanah Nasional Launches New Programs to Support & Attract Venture Capital Funds & Startups, with 2 Programs are Emerging Fund Managers’ Programme and Regional Fund Managers’ Initiative under the National Fund-of-Funds
18th October 2024 | Hong Kong
Malaysia sovereign wealth fund Khazanah Nasional with $18 billion AUM has launched new programs to support & attract venture capital funds & startups, with the 2 programs launched are the Emerging Fund Managers’ Programme and Regional Fund Managers’ Initiative under the National Fund-of-Funds. Khazanah Nasional (15/10/24): “Khazanah Nasional Berhad (“Khazanah”) will launch the Emerging Fund Managers’ Programme (“EMP”) and the Regional Fund Managers’ Initiative (“RMI”) under the National Fund-of-Funds (“NFOF”). These initiatives follow the acquisition of Malaysia Venture Capital Management (“MAVCAP”) and Penjana Kapital (“PK”) by Khazanah in July this year … … The EMP represents a significant step under the NFOF in advancing Malaysia’s VC and innovation ecosystem as the NFOF will anchor fundraising efforts of emerging local fund managers. With capital commitment from the NFOF, the programme aims to signal stronger confidence to prospective fund investors to invest in fund managers who have the potential to be regionally competitive. Thereafter, the start-up ecosystem will benefit from crowding-in of private and other capital into these managers, which in turn will boost the presence of innovation-driven startups in Malaysia. Scheduled to commence in November 2024, the EMP will be opened to all Malaysian GPs, focusing on VC fund managers who are raising their first, second, or third fund – based in Malaysia or overseas. The RMI on the other hand, represents the NFOF’s initiative to attract international fund managers who are committed to enrich the ecosystem, including supporting the growth of Malaysian startups to be regional and global players, as well as facilitate the redomiciling of global companies in Malaysia to expand local job capabilities, attract talent and deepen innovation. Amongst others, the NFOF welcomes established venture generators to unearth new entrepreneurs and support the growth of existing ones. Established international fund managers with global mandates can leverage their existing portfolio companies to create value and impact by expanding into Malaysia. This strategic move seeks to foster collaborative partnerships with Malaysian companies to pilot initiatives that would result in technology and know-how transfer with the aim to increase business productivity and efficiency. The establishment of the NFOF is aligned to Khazanah’s Advancing Malaysia strategy, anchored by ‘A Nation That Creates’ framework that aims to boost national productivity and competitiveness. These initiatives are a part of Khazanah’s commitment under the GEAR-uP programme, led by the Ministry of Finance (“MOF”) in synergising efforts across Government-Linked Investment Companies (“GLICs”) and catalyse growth in key economic sectors. The launch of the EMP and RMI underscores the NFOF’s commitment to enhancing access to capital for startups, driving innovation and spurring economic growth. This aligns with the aspirations of Ekonomi MADANI to ‘raise the ceiling’ through digital, innovation-led industries and support high-growth companies to become regional champions.” In 2024 August, Khazanah Nasional completed the acquisition of Malaysia Venture Capital Management (MAVCAP) & Penjana Kapital to strengthen Malaysia venture capital ecosystem & improving public institutions. Khazanah will invest the first allocation of $216 million (RM 1 billion) in the national fund-of-funds via venture capital & private equity funds to invest in innovative & high-growth startups.
“ Malaysia $18 Billion Sovereign Wealth Fund Khazanah Nasional Launches New Programs to Support & Attract Venture Capital Funds & Startups, with 2 Programs are Emerging Fund Managers’ Programme and Regional Fund Managers’ Initiative under the National Fund-of-Funds “
Khazanah Managing Director Dato’ Amirul Feisal Wan Zahir: “With the launch of EMP, we aim to ensure the continued growth of our local VC fund managers, and we see the RMI as another critical step in our commitment to foster a dynamic VC ecosystem in Malaysia. As innovation is borderless, the availability of capital, talent and technology will determine the future of Malaysia. This is why the NFOF will focus on the creation of local champions under the EMP, while attracting international capital and partners. These efforts will enable the fusion of local and international expertise, perspectives and knowledge to spur a vibrant ecosystem that fuels progress and advancements.”
Malaysia $18 Billion Sovereign Wealth Fund Khazanah Nasional Completes Acquisition of Malaysia Venture Capital Management (MAVCAP) & Penjana Kapital to Strengthen Malaysia Venture Capital Ecosystem & Improving Public Institutions, Khazanah to Invest First Allocation of $216 Million (RM 1 Billion) in National Fund-of-Funds via Venture Capital & Private Equity Funds to Invest in Innovative & High-Growth Startups
1st August 2024 – Malaysia sovereign wealth fund Khazanah Nasional with $18 billion AUM has completed the acquisition of Malaysia Venture Capital Management (MAVCAP) & Penjana Kapital to strengthen Malaysia venture capital ecosystem & improving public institutions. Khazanah will invest the first allocation of $216 million (RM 1 billion) in the national fund-of-funds via venture capital & private equity funds to invest in innovative & high-growth startups. Khazanah Nasional (30/7/24): “Khazanah Nasional (“Khazanah”) today announced the successful completion of the acquisitions of Malaysia Venture Capital Management (“MAVCAP”) and Penjana Kapital (“PK”). These strategic acquisitions align with key objectives of the Malaysia MADANI Budget 2024, namely, strengthening Malaysia’s venture capital (“VC”) ecosystem and improving public institutions. Upon completion, they are expected to enhance the coordination and centralisation of government resources, facilitate efforts to advance Malaysia’s startup ecosystem and bolster its regional competitiveness. Following the acquisitions, MAVCAP and PK are now wholly owned subsidiaries of Khazanah. Khazanah will then begin establishing a National Fund-of-Funds (“NFOF”) with an initial allocation of RM1 billion to invest in innovative and high-growth startups via VC and PE funds. Khazanah is confident that the combined experience and resources of all the entities will enhance access to capital for start-ups, driving innovation and spurring economic growth. This aligns with the aspirations of Ekonomi MADANI to ‘raise the ceiling’ through digital innovation-led industries and support high-growth companies to become regional champions. Additionally, this initiative is a key pillar of Malaysia’s vision of becoming a preferred regional VC hub by 2030, as outlined in the Malaysia Venture Capital Roadmap 2024-2030 (“MVCR”) and the KL20 Action Paper.” In 2024 April, Malaysia (Prime Minister Anwar Ibrahim) announced 12 venture capital firms to setup offices & new funds in Malaysia, and a new $630 million (MYR 3 billion) startup fund to be invested by United States-based Blue Chip Venture Capital, Malaysian sovereign wealth fund Khazanah Nasional & Malaysia civil service pension fund Kumpulan Wang Persaraan. Khazanah Nasional will also be investing in fund-of-funds with initial $210 million (MYR 1 billion) allocation.
Khazanah Managing Director Dato’ Amirul Feisal Wan Zahir said, “The integration of MAVCAP and PK represents an opportunity to build on the solid foundations of these entities while implementing new initiatives aimed at further strengthening Malaysia’s VC ecosystem. By consolidating investment platforms across multiple investment agencies, Malaysia will be better positioned to ensure greater sustainability of funding, crowd-in private capital, attract regional VC firms into the country and catalyse strategically important sectors. Furthermore, the establishment of a national fund-of-funds aligns with Khazanah’s Future Malaysia Programme, which aims to support the local start-up ecosystem of entrepreneurs, start-ups, VC, and corporate venture programmes through collaboration with domestic and international partners. We recognise the contributions and commitment of MAVCAP and PK. Their vision and dedication to the VC ecosystem all these years have been instrumental, and we look forward to drawing on the teams’ strength and experience to achieve our collective vision of Advancing Malaysia,.”
Khazanah Nasional Berhad – Khazanah Nasional Berhad (“Khazanah”) is the sovereign wealth fund of Malaysia entrusted to deliver sustainable value for Malaysians. In line with its long-term strategy of Advancing Malaysia, Khazanah aims to deliver its purpose by investing in catalytic sectors, creating value through active stewardship, increasing its global presence, as well as building capacity and vibrant communities for the benefit of Malaysians.
12 Venture Capital Firms to Setup Offices & New Funds in Malaysia, New $630 Million Startup Fund to be Invested by United States-Based Blue Chip Venture Capital, Malaysian Sovereign Wealth Fund Khazanah Nasional & Malaysia Civil Service Pension Fund Kumpulan Wang Persaraan, Khazanah Nasional to Invest in Fund-of-Funds with Initial $210 Million Allocation
27th April 2024 – Malaysia (Prime Minister Anwar Ibrahim) has announced 12 venture capital firms to setup offices & new funds in Malaysia, and a new $630 million (MYR 3 billion) startup fund to be invested by United States-based Blue Chip Venture Capital, Malaysian sovereign wealth fund Khazanah Nasional & Malaysia civil service pension fund Kumpulan Wang Persaraan. Khazanah Nasional will also be investing in fund-of-funds with initial $210 million (MYR 1 billion) allocation.
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