• Framework facilitates cross-border investments in startups throughout a number of sectors
• At current, Dana Penjana Nasional has authorized 53 investments valued at US$130.85mil

Penjana Kapital Sdn Bhd, part of the Malaysian authorities’s initiative to develop startups, has signed a Memorandum of Cooperation with Indonesian-focused funding corporations Indies Capital Companions and AC Ventures.

Prime Minister, Anwar Ibrahim witnessed the signing ceremony throughout his two-day working go to to Jakarta.

The memorandum establishes a working framework for Penjana Kapital, Indies Capital Companions, and AC Ventures to discover co-investment alternatives in Malaysia-Indonesia progress firms by means of present and soon-to-be-launched funds. 

The framework facilitates cross-border investments and expertise switch in information centres, schooling, hospitality, mobility, and waste administration sectors involving Indonesian and Malaysian start-ups.

In keeping with Malaysia Exterior Commerce Growth Company (Matrade), the entire commerce worth between Malaysia and Indonesia rose 43.5% to US$21.73 billion (RM95.1 billion) in 2021 in comparison with 2020. Whole Malaysian exports to Indonesia had been up 32.5% to US$8.962 billion (RM39.22 billion) whereas complete imports noticed a 52.3% enchancment to US$12.769 billion in the identical interval.

(RM1 = US$0.228)

Indies Capital Companions was an early participant within the non-public credit-focused managers in Southeast Asia. Immediately, the agency has developed right into a top-quartile, various asset supervisor with greater than US$800 million in property beneath its administration. Its technique spans from non-public credit score to personal fairness.

AC Ventures is a Southeast Asian enterprise capital agency investing in early-stage start-ups targeted on Indonesia and ASEAN. AC Ventures at the moment has over US$500 million in property beneath administration, invested throughout 5 funds. Since 2012, the agency’s companions have invested in additional than 100 expertise firms within the area.

Penjana Kapital’s flagship programme – Dana Penjana Nasional – has raised a complete dedication of US$ 297.05 million for its eight funds as of December 2022 on an identical foundation of roughly 1:1 —the Ministry of Finance will match each ringgit that’s efficiently introduced in by the fund. 

Of the entire, US$164.73 million got here from international and personal native traders. 

Penjana Kapital additionally announce that Dana Penjana Nasional has authorized 53 investments valued at US$130.85 million.