Sunway Group, Indonesia’s Kejora Capital launch US$25mil Orbit Malaysia Fund


KUALA LUMPUR: Sunway Group and Indonesia’s main enterprise capital (VC) agency, Kejora Capital has launched a US$25 million (US$1=RM4.17) Orbit Malaysia Fund, specializing in early-stage Malaysian startups.

In an announcement at this time, Sunway stated Malaysia Enterprise Capital Administration Bhd (MAVCAP) will act as an anchor investor and the fund will actively spend money on Collection A financing, not solely in Malaysian startups but additionally considerably in different high-growth Southeast Asian startups.

Orbit Malaysia Fund director Raymond Hor stated the fund is an alliance arrange within the spirit of collaboration to leverage the mixed assets not simply to assist startups, but additionally as a platform for extra non-public companies to take part in VC funding.

“Malaysia is residence to a fast-growing and vibrant startup ecosystem and there may be nice potential for Malaysian corporations to develop into Southeast Asia’s subsequent unicorn.

“With a confirmed observe file within the area and mixed cross-border ecosystem, we’re assured of replicating our success to empower Malaysian corporations to scale quickly all through Southeast Asia and past,” he stated.

In the meantime, Sunway Group chief innovation officer, Matthijs (Matt) van Leeuwen stated Orbit Malaysia is an extension of the conglomerate’s distinctive innovation ecosystem and startup funding funnel.

“We share the identical mission as Kejora Capital to spend money on category-leading startups and on the similar time, create actual social and sustainable impression.

“With the backing from our anchored restricted associate MAVCAP, each Sunway and Kejora Capital can undoubtedly replicate such efficiency in Malaysia,” he stated.

To this point, Kejora Capital has over US$600 million in property beneath administration (AUM) with 38 portfolios throughout eight years of existence, birthing 4 unicorn exits, stated Sunway. – Bernama

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