KUALA LUMPUR: Khazanah Nasional Bhd and its subsidiary, Jelawang Capital, have announced the opening of applications for the second cohort of the Emerging Fund Managers' Programme (EMP).
According to Khazanah managing director Datuk Amirul Feisal Wan Zahir, since the selection of the first three EMP fund managers in June 2025, the programme has attracted more than RM30mil from other capital providers beyond Jelawang’s commitments and collectively deployed over RM60mil across more than 10 early-stage companies, the majority of which are Malaysian startups.
"This reflects EMP’s contribution to supporting the development of emerging fund managers and the domestic venture capital ecosystem," he said in a statement.
As Malaysia’s national fund-of-funds, Jelawang Capital channels its investments through VC fund managers under the EMP and Regional Fund Manager’s Initiative (RMI), which employ a programmatic approach to nurture and strengthen the VC ecosystem.
The EMP is designed to support the next generation of Malaysian fund managers through crowding in capital and institutionalising fund managers.
The first three EMP fund managers in the first cohort are Vynn Capital, Kairous Capital and First Move.
The upcoming EMP cohort introduces several refinements including a rolling Request for Proposals (RFP) and a streamlined submission process that enable year-round applications. It also features a lowered minimum fund size for pre-seed and seed strategies, and greater flexibility during the application phase in relation to early fundraising progress.
Khazanah and Jelawang Capital invite eligible Malaysian VC fund managers raising their first, second or third fund to apply for the EMP.
For application and eligibility criteria, please visit https://www.jelawangcapital.com/emerging-fund-managers-programme-emp
