Penjana Kapital closes RM850mil funding to help local startups

“The projects that have been selected are developing solutions premised on innovative, cutting-edge tech, all of which could help Malaysia make that quantum leap towards its MyDigital vision much quicker than expected, ” said Finance Minister Tengku Datuk Seri Zafrul Aziz in the statement.

KUALA LUMPUR: The Dana Penjana Nasional programme has raised RM850mil for its first close at end-May 2021, exceeding the target of RM228mil by RM622mil or 3.7 times.

Penjana Kapital Sdn Bhd, the company set up to operationalise the programme, said of the total raised, RM433mil or over 55% was from foreign investors, including from Hong Kong, South Korea and Singapore.