MALAYSIA: After becoming wholly-owned subsidiaries of Malaysian sovereign fund Khazanah Nasional, seed funders Malaysia Venture Capital Management and Penjana Kapital will jointly manage a new Khazanah-launched National Fund-of-Funds – starting with RM1 billion (US$216 million) – to invest in innovative and high-growth startups via venture capital (VC) and private equity injections.
Khazanah Managing Director Amirul Feisal Wan Zahir said this combination represents an opportunity to build on the solid foundations of these entities while implementing new initiatives aimed at further strengthening Malaysia’s VC ecosystem.
