KUALA LUMPUR: Khazanah Nasional Bhd 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 Sdn Bhd (PKSB) by Khazanah in July this year.
Khazanah managing director Datuk Amirul Feisal Wan Zahir said, “With the launch of EMP, we aim to ensure the continued growth of our local VC fund managers.
“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 creating 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,” he said.
The EMP represents a significant step under the NFOF in advancing Malaysia’s VC and innovation ecosystem. The NFOF will anchor the fundraising efforts of emerging local fund managers.
With capital commitment from the NFOF, the programme aims to signal stronger confidence in prospective fund investors to invest in fund managers who have the potential to be regionally competitive.
Thereafter, the start-up ecosystem will benefit from the crowding-in of private and other capital into these managers, boosting 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 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.
This includes supporting the growth of Malaysian startups to become regional and global players and facilitating 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 expand into Malaysia and leverage their existing portfolio companies to create value and impact.
This strategic move seeks to foster collaborative partnerships with Malaysian companies to pilot initiatives resulting in technology and know-how transfer to increase business productivity and efficiency.
