Khazanah MD Dato’ Amirul Feisal Wan Zahir
Khazanah Nasional’s Dana Impak to launch initiatives to advance the national venture capital ecosystem
Malaysia’s sovereign fund, Khazanah Nasional, will launch new programmes to advance its venture capital and innovation ecosystem.
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The initiatives are the Emerging Fund Managers’ Programme (EMP) and the Regional Fund Managers’ Initiative (RMI) under the National Fund of Funds(NFOF).
With the NFOF’s capital commitment, EMP aims to signal stronger confidence to prospective fund investors in investing in fund managers who have the potential to be regionally competitive. Thereafter, the startup 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 General Partners, focusing on VC fund managers 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 enriching the ecosystem, including supporting the growth of Malaysian startups to be regional and global players, as well as facilitating the redomiciling of global companies in the country to expand local job capabilities, attract talent and deepen innovation.
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“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,” Khazanah MD Dato’ Amirul Feisal Wan Zahir said. “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.”
These initiatives follow Khazanah’s acquisition of Malaysia Venture Capital Management and Penjana Kapital in July this year.
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