KUALA LUMPUR: Khazanah Nasional Bhd and its unit Jelawang Capital have named five venture capital (VC) firms under two strategic programmes designed to strengthen Malaysia’s early-stage investment ecosystem.
Vynn Capital, Kairous Capital, and First Move—three local players—have been selected under the Emerging Fund Managers’ Programme (EMP), while regional firms AppWorks and Granite Asia join as partners under the Regional Fund Managers’ Initiative (RMI).
EMP supports Malaysian fund managers raising their first few funds, aiming to build regional competitiveness through stronger governance, track record, and capital mobilisation. RMI, on the other hand, targets experienced global fund managers committed to boosting local startups, encouraging global firms to re-domicile in Malaysia, and expanding local talent capacity.
Khazanah managing director Datuk Amirul Feisal Wan Zahir said the five firms are expected to deploy over RM200 million, with a focus on “Malaysia-Nexus” companies—supporting about 50 early-stage ventures.
“These firms bring a blend of local roots and regional reach. They back startups that dare to scale and carry Malaysia’s ambition beyond our borders,” he said.
AppWorks and Granite Asia have also pledged to run capacity-building programmes—including mentorships and accelerators—for Malaysian founders beginning in 2025.
The appointments align with the Malaysian Venture Capital Roadmap 2024–2030 and the RM1 billion MADANI Economy commitment to drive high-growth entrepreneurship. This comes as Kuala Lumpur breaks into Startup Genome’s top 20 emerging ecosystems, ranking 18th globally.
VC funding in Malaysia totalled just US$429 million in 2024. – BERNAMA