KUALA LUMPUR: The Retirement Fund Inc. (KWAP) will invest RM100 million in two Malaysian startups and venture capital (VC) funds as part of its Dana Perintis strategy.
KWAP will be investing in Bateriku (M) Sdn Bhd and Lapasar Sdn Bhd to aid in their development and expansion initiatives.
Bateriku, a rapidly expanding automotive service provider with a nationwide partner network, contributes to job creation and financial inclusion, while Lapasar, an online wholesale marketplace catering to the fast-moving consumer goods (FMCG) sector, drives digitalisation across the economy.
KWAP chief investment officer Hazwan Hilmi Sallahuddin said that these investments demonstrate KWAP's dedication to acknowledging and promoting innovative concepts, aligning with the Economy Madani initiative.
"With the emergence of attractive opportunities within the Malaysian startup ecosystem, we are pleased to announce Dana Perintis' inaugural investments.
"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.
Hazwan said there will be more investments and announcements to come, as KWAP continues its rollout of Dana Perintis.
Furthermore, KWAP said it has committed to two VC funds: Vynn Capital, which focuses on seed-stage investments in mobility and supply chain sectors, and Antler, known for its active involvement in early-stage investments from pre-seed to Series A and beyond.
Introduced in September 2023 with a targeted deployment of RM500 million, Dana Perintis aims to expedite the growth of the Malaysian early-stage ecosystem while delivering substantial returns for beneficiaries through investments in startups and VC funds.
The four investments also align with the six focal areas of Dana Perintis, encompassing the digital economy, financial inclusion, food security, education, the silver economy, and climate change.