KUALA LUMUR: Bradbury Asset Management (Hong Kong) Ltd has committed up to RM150 mil of foreign investment via one of its offshore funds into the Crewstone Bradbury Penjana Fund.
In a statement on Friday, BAMHK -- an asset management company established in Hong Kong in 2012 – said the fund was established in partnership with Crewstone International Sdn Bhd (Malaysia) and Penjana Kapital Sdn Bhd, under the Ministry of Finance Malaysia (MoF).
“The fund seeks to invest in technology projects in Malaysia, capitalising on the growth potential of Malaysian ventures or regional companies planning to establish a presence in Malaysia, ” it said.
Crewstone International is one of the VC (venture capital) fund managers selected under the Dana Penjana Nasional (DPN) programme through Penjana Kapital Sdn Bhd.
The partnership will allow for greater cross border investment collaboration opportunities via the exchange of unique skill sets contributed by the partnership.
The DPN programme under the Ministry of Finance is a matching fund-of-funds programme where the government will match up to RM600mil on a one-for-one basis with the VC funds, with an initial target of RM1.2bil.
Ahmad Izmir Mujab, CEO of Crewstone International Sdn Bhd (Malaysia) said: “We are excited to be working with Bradbury as the exclusive limited partner in this fund as they have shown tremendous confidence in our capability as a general partner and the Malaysian technology scene.
“The RM150mil allocation committed by Bradbury is one of, if not, the single largest commitment for the Dana Penjana Nasional programme to date”.
Bradbury Group, the holding company of BAMHK, is a comprehensive financial institution consisting of several licensed entities that specialise in international securities brokerage, asset management and EAM services for sophisticated investors globally.
With a strong focus in Asia, its private equity portfolios span across capital markets, real estate, green energy, media, commodities trading and others.
As part of this partnership initiative, Bradbury is considering to establish a state-of-the-art EV bus manufacturing & assembly factory as well as an EV battery research & development Centre in Malaysia.
Keith Loo, CEO of Bradbury Group said he was optimistic and look forward to growing the tech ecosystem in Malaysia through its contribution and the various government initiatives placed for 2021.
“The various grants and incentives provided by government agencies led by the Ministry of Finance has made Malaysia a competitive hub for local and international technology companies.
“We hope these initiatives continue to be introduced in the future as it allows more foreign direct investors such as Bradbury to strategically place and grow our investment during these exciting times. Our EV initiative will not only create jobs and spur economic growth, but also create a branding for Malaysia in the hot EV space.”