Khazanah getting RM1b to kick off ‘national fund of funds’ to invest in high growth Malaysian companies, says PM Anwar
Prime minister Datuk Seri Anwar Ibrahim officiating the KL Summit 20 at Kuala Lumpur Convention Centre, 22 April 2024. — Picture by Shafwan ZaidonKUALA LUMPUR, April 22 — Prime Minister Datuk Seri Anwar Ibrahim today announced an initial RM1 billion allocation for sovereign wealth fund Khazanah Nasional Berhad to invest in innovative high growth Malaysian companies.
He described the venture that is expected to see up to RM3 billion in the Malaysian and South-east Asian ecosystem under the Asean Investment Initiative as a “national fund of funds”. “Shortly we shall witness this continuing trend of confidence from investors in all parts of the startup ecosystems, 25 entities in total, that will give a real chance for Malaysia to create cutting edge technology ventures,” he said in his speech at the start of the KL20 Summit 2024 here.
Among the other funds that have committed to the venture are Retirement Fund and Blue Chip Venture Capital.