Penjana Kapital

Proficeo Consultants Sdn Bhd (Proficeo) in partnership with Penjana Kapital Sdn Bhd (Penjana), has on Monday announced the selection of the pioneer group of 18 Founders for the Soonicorn Collective.

ScaleUp Accelerator Sdn Bhd (ScaleUp Malaysia) and Proficeo Consultants Sdn Bhd (Proficeo) in partnership with Penjana Kapital Sdn Bhd (Penjana Kapital) and Malaysia Digital Economy Corporation (MDEC), have announced the selection of the first 2 cohorts of 24 Founders for the 100Soonicorns program designed to groom the next unicorns of Malaysia.

Malaysia's Penjana Kapital Sdn Bhd (Penjana Kapital), announced Monday it has signed a memorandum of cooperation with Indonesian-focused private investment firms Indies Capital Partners and AC Ventures (ACV), for cross-border investments and technology transfer.

“While these trends may not seem new, these themes have started gaining momentum in recent times,” the Malaysia-headquartered VC firm Co-founder and Co-Managing Partner Raja Hamzah Abidin told TechNode Global.

The Iris Fund, established under the Dana Penjana Nasional program, is co-managed by Hanwha Asset Management and Iris Capital Partners aims to support Malaysian and Southeast Asian startups.

AC Ventures has partnered with Translink Capital and Vertex Force to invest in Dana Penjana Nasional’s Southeast Asia (SEA) Frontier Fund focused on funding promising Malaysian start-ups to, among others, expand into Indonesia and form partnerships within the regional technology ecosystem.

The Hibiscus Fund is targeting a final close at $80 million to $100 million.

Xendit will relocate its financial hub to Malaysia, following an investment from the Malaysian government’s venture capital investment fund.

By bridging the funding gap, MaGIC and Penjana Kapital aspire to reorient private capital for innovative start-ups, attract global and regional VCs into Malaysia, as well as elevate knowledge transfer, talent development and creation in Malaysia ecosystem.