KWAP makes maiden RM100mil investments under Dana Perintis strategy

KUALA LUMPUR: Retirement Fund (Incorporated) (KWAP) announced the first batch of investments under its Dana Perintis strategy, amounting to RM100 million, comprising two direct investments in Malaysian startups and two venture capital (VC) fund commitments.

In a statement today, KWAP said it has invested in two promising Malaysian companies, Bateriku (M) Sdn Bhd and Lapasar Sdn Bhd, to further support their growth and expansion plans.

"Bateriku is a rapidly growing automotive service provider with a network of partners nationwide, providing job opportunities and increasing financial inclusion.

"While Lapasar is an online wholesale marketplace that focuses on meeting the needs of the fast-moving consumer good industry, accelerating the adoption of digitalisation throughout the economy,” it said.

Additionally, KWAP said it has also made commitments to two VC funds, namely Vynn Capital, a home-grown fund that invests from the seed stage with a focus on the mobility and supply chain sectors, as well as Antler, the world’s most active early-stage VC from pre-seed to Series A and beyond.

"Antler recently expanded its flagship residency programme to Malaysia, designed to support founders to get their startups launched and funded.

"These are the first in a portfolio of fund investments that will be carefully curated to inject capital into sections of the local ecosystem that most require it,” it added.

KWAP chief investment officer Hazman Hilmi Sallahuddin said the public service retirement fund is confident in the prospects and potential of the investment in these four entities and looks forward to working closely with them, adding value and lending KWAP’s support to ensure their success.

"These investments also signified the commitment to recognising and fostering innovative ideas in line with the Economy Madani initiative.

"With the emergence of attractive opportunities within the Malaysian startup ecosystem, we are

pleased to announce the inaugural investments of Dana Perintis,” he said.

Hazman said there will be more investments and announcements to come as KWAP continues its rollout of Dana Perintis.- Bernama