KUALA LUMPUR: Malaysia Co-Investment Fund (MyCIF) has raised more than RM2.7 billion from its equity crowdfunding (ECF) and peer-to-peer (P2P) campaigns as of Dec 31, 2021, up from RM1.33 billion recorded in 2020.
According to the MyCIF annual report 2021 released by Securities Commission Malaysia (SC) today, the fund raised was from 4,556 micro, small and medium-sized enterprises (MSMEs) through the ECF platform (RM420.9 million) and P2P platform (RM2.29 billion).
It said both the ECF and P2P platforms had drawn 20,531 investors as of Dec 31, 2021, up from 19,603 in 2020, among them, 50 per cent are below 35-year old.
SC said with the continued support of MyCIF, the ECF market had raised RM221.63 million fund from 104 MSMEs in 2021 alone, a jump of 74 per cent from RM127.73 million raised in 2020 while P2P raised RM1.14 billion from 1,988 MSMEs, surging 123 per cent from RM512.65 million raised in 2020.
"Thus far, MyCIF has accumulated a net return of RM4.6 million contributed by the increases in ECF capital return and P2P interest/return.
"All returns and repayments received from MyCIF were plowed back for further co-investment,” it said.
Moving forward in 2022, it said MyCIF would continue to assist in ECF and P2P financing with a specific focus on agriculture-related MSMEs due to the strategic importance of the sector to the country’s economic recovery.
Since its inception in October 2019, MyCIF, a fund administered by the SC on behalf of the Ministry of Finance (MoF), has received a total of RM180 million allocation of which, RM80 million was allocated in 2021 by the government to provide co-investments alongside private investors on the ECF and P2P platforms. - Bernama