Penjana Kapital raises RM676mil

Finance Minister Tengku Datuk Seri Zafrul Aziz (file pic) said these funds are crucial to spur our start-up ecosystem and encourage innovation, particularly in the face of Covid-19 challenges.

PETALING JAYA: Penjana Kapital Sdn Bhd has successfully raised RM676mil through eight Malaysian-based venture capital (VC) fund managers that had been selected as part of the Dana Penjana Nasional programme.

Of the amount, RM372mil, or 55%, of the funds came from various foreign investors, specifically from Hong Kong and South Korea, said Penjana Kapital in the statement.