Halogen Capital Sdn Bhd, a Malaysia-based licensed digital asset fund manager, announced Monday the successful completion of its $3.2 million funding round, with Kenanga
Investment Bank Berhad, Malaysia’s independent investment bank, as the lead investor, alongside 500 Global, a global venture capital firm, and other investors.

Following this, with its 14.9 percent stake, Kenanga now holds the largest institutional shareholding in Halogen Capital, the duo said in a joint statement.

The funding, made through Kenanga’s wholly-owned subsidiary, Kenanga Private Equity Sdn Bhd, will support Halogen Capital to advance its Real-World Asset (RWA) tokenization strategy, including onshore unit trust funds, bonds, sukuk, private credit, and real estate, creating broader access to investment opportunities that have traditionally been available primarily to institutional and high-net-worth investors.

Building on Halogen Capital’s expertise in asset tokenization and digital asset fund management, and combined with Kenanga’s institutional strength, brand recognition, and regional partnerships, the initiative will provide innovative investment opportunities for investors in Malaysia and beyond.

“This funding round represents an important step in advancing Kenanga’s digital asset ecosystem,

“Our investment in Halogen Capital—alongside our other investments in digital-first businesses such as KDX, Helicap and Merchantrade — reflects our conviction that the future of finance will be defined by innovation, supported by strong governance and transparency,” said Chay Wai Leong, Group Managing Director of Kenanga Investment Bank Berhad.

By leveraging blockchain and tokenization, and by strengthening our network of digital platforms, he said the firm aims to redefine how investors engage with capital markets, making them more efficient, accessible and globally competitive.

“Together, these initiatives are laying the foundation for products that anticipate the evolving needs of investors and businesses in a rapidly changing financial environment,” he added.

Liew Ooi Hann, Founder and Chief Executive Officer of Halogen Capital, said the completion of this round marks an important milestone as the firm continues building Malaysia’s institutional digital asset investing landscape.

“We are encouraged by the confidence shown by Kenanga, as well as our other notable investors, which include 500 Global, Digital Currency Group, The Hive Southeast Asia, Jelawang Capital, and Mythos Venture Partners,

“Their support reinforces the growing recognition of digital assets as an integral part of global capital markets. Institutional participation is rising steadily worldwide, with more than MYR 744 billion ($181 billion) now held in corporate crypto treasuries,” he added.

He also said Malaysia is experiencing the same shift, and demand for regulated, professionally managed exposure has accelerated over the past three years.

“With the backing of leading investors, we are well-positioned to accelerate product innovation and expand access to institutional-grade digital asset investments,” he said.

Since launching in 2023 as the pioneer of the world’s first Shariah-compliant cryptocurrency funds, Halogen Capital has grown its assets under management (AUM) to around MYR 400
million ($97.80 million) as of November 2025.

This includes the Halogen Shariah Bitcoin Fund, which has emerged as one of Malaysia’s top-performing funds since its inception, as reflected in the London Stock Exchange Group (LSEG) Lipper data.

Today, Halogen Capital serves a fast-growing investor base numbering in the thousands, including high-net-worth individuals, family offices, corporates, and institutional investors, across eight wholesale funds and private mandates— supported by a network of more than 15 distributors including commercial banks and Federation of Investment Managers Malaysia (FIMM)-approved distributors.

Leveraging Halogen Capital’s expertise and growing investor base, alongside Kenanga’s investment, the initiative will offer broader, differentiated product offerings—including new digital asset investment products, safer access to crypto yield generation, and tokenized securities backed by onshore Malaysian assets.

These initiatives are complemented by the Securities Commission Malaysia’s ongoing efforts to tokenize securities and develop regulatory guidance for blockchain-based investments and distributed ledger technology, ensuring that the development of digital asset solutions remains secure, compliant, and aligned with regulatory standards, said the statement.

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