Malaysia's pension fund, Kumpulan Wang Persaraan (Diperbadankan) (KWAP), has kickstarted its Dana Perintis strategy with an initial investment of $21 million. The investments include direct support for local startups Bateriku (M) Sdn Bhd and Lapasar Sdn Bhd, alongside commitments to venture capital funds Vynn Capital and Antler.
Bateriku is an automotive service provider with a nationwide network, contributing to job creation and financial inclusion. Lapasar operates as an online wholesale marketplace catering to the fast-moving consumer goods (FMCG) sector, driving digitalization.
KWAP's Chief Investment Officer, Hazwan Hilmi Sallahuddin, highlighted the alignment of these investments with KWAP's goal to strengthen innovative concepts in line with the Economy Madani initiative. Sallahuddin expressed confidence in the prospects of these investments and emphasized KWAP's commitment to collaborate closely with the supported entities.
In addition to the direct investments, KWAP has allocated funds to Vynn Capital and Antler. Vynn Capital focuses on seed-stage investments in mobility and supply chain sectors, while Antler supports startups from pre-seed to Series A and beyond.
Launched in September 2023 with a targeted total deployment of RM500 million, Dana Perintis aims to accelerate the growth of Malaysia's early-stage ecosystem across six focal areas: digital economy, financial inclusion, food security, education, the silver economy, and climate change.
Hazman Hilmi Sallahuddin acknowledged the attractive opportunities in the Malaysian startup ecosystem, hinting at more investments and announcements as Dana Perintis progresses. Azarol Faizi, Founder and CEO of Bateriku, outlined the company's ambition to become a leading provider offering comprehensive solutions in the automotive sector. Thinesh Kumar, Co-founder and CEO of Lapasar, expressed excitement about the partnership and emphasized Lapasar's role in empowering small business owners in the grocery and restaurant sector.
These strategic investments signify the beginning of a portfolio aimed at injecting capital into vital segments of the local ecosystem, contributing to the growth and success of the Malaysian startup scene.