Malaysia’s pension fund Kumpulan Wang Persaraan (Diperbadankan) [KWAP] has invested RM100 million (US$21 million) in two local startups and VC firms each under its Dana Perintis strategy.
The startups are Bateriku and Lapasar. Bateriku is an automotive service provider with a network of partners nationwide, providing job opportunities and increasing financial inclusion. Lapasar, on the other hand, is an online wholesale marketplace that focuses on meeting the needs of the FMCG industry, accelerating the adoption of digitalisation throughout the economy.
Also Read: Lapasar offers a B2C-like e-commerce experience to corporate procurement in Malaysia
The capital will support the growth and expansion plans of both firms.
The two VC funds that KWAP invested in are Vynn Capital and Antler. Vynn Capital is a home-grown fund that invests from the seed stage, focusing on the mobility and supply chain sectors.
Antler is an early-stage VC firm headquartered in Singapore, investing from pre-seed to Series A and beyond. It recently expanded its flagship residency programme to Malaysia, designed to support founders get their startups launched and funded.
These four are the first in a portfolio of fund investments from KWAP that will be carefully curated to inject capital into sections of the local ecosystem that most require it.
Launched in September 2023 with a targeted total deployment of RM500 million (US$104 million), Dana Perintis is designed to accelerate the development of the country’s early-stage ecosystem whilst generating strong returns for beneficiaries via investments in startups and VC funds.
Also Read: Antler partners with Khazanah, to invest in 30+ Malaysian startups over next three years
The four investments align with Dana Perintis’s six focus areas: digital economy, financial inclusion, food security, education, silver economy, and climate change.
The Chief Investment Officer of KWAP, Hazman Hilmi Sallahuddin, said, “We are confident in the prospects and potential of the investment in these four entities and look forward to working closely with them; adding value and lending KWAP’s support to ensure their success. There will be more investments and announcements to come, as KWAP continues its rollout of Dana Perintis.”
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