Khazanah Nasional Completes Acquisition Of MAVCAP, Penjana Kapital, Allocates RM1 Bln For Investment

KUALA LUMPUR, July 30 (Bernama) -- Khazanah Nasional Bhd has completed the acquisition of Malaysia Venture Capital Management (MAVCAP) and Penjana Kapital in an effort to strengthen Malaysia’s venture capital (VC) ecosystem and improve public institutions.

The acquisitions are expected to enhance the coordination and centralisation of government resources, facilitate efforts to advance Malaysia’s startup ecosystem and bolster its regional competitiveness, the sovereign wealth fund said in a statement today.

Khazanah said MAVCAP and Penjana Kapital are now its wholly owned subsidiaries.

According to Khazanah, it will 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 private equity funds.

“The integration of MAVCAP and Penjana Kapital represents an opportunity to build on the solid foundations of these entities while implementing new initiatives aimed at further strengthening Malaysia’s VC ecosystem,” Khazanah managing director Datuk Amirul Feisal Wan Zahir said.

He said 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 NFOF 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,” he said.

Amirul Feisal said 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 the MADANI Economy to “raise the ceiling” through digital innovation-led industries and support high-growth companies to become regional champions.

He said this initiative is also 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 and the KL20 Action Paper.

“We recognise the contributions and commitment of MAVCAP and Penjana Kapital. 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,” he added.

-- BERNAMA