KUALA LUMPUR, February 29 – Kumpulan Wang Persaraan (Diperbadankan) [KWAP] announced today its first investments under its Dana Perintis strategy, totaling RM100 million. These investments include two direct investments in Malaysian startups and commitments to two Venture Capital (VC) funds. KWAP’s investments in Bateriku (M) Sdn Bhd and Lapasar Sdn Bhd aim to support the growth and expansion plans of these promising Malaysian companies. Bateriku is a rapidly growing automotive service provider with a nationwide network, while Lapasar is an online wholesale marketplace catering to the FMCG industry, driving digitalization across the economy.
In addition to direct investments, KWAP has committed to VC funds like Vynn Capital and Antler. Vynn Capital focuses on mobility and supply chain sectors, while Antler is a global early-stage VC firm supporting startups from pre-seed to Series A and beyond. These investments align with the Dana Perintis strategy launched in September 2023, aimed at accelerating the development of the Malaysian early-stage ecosystem across six focus areas. Chief Investment Officer of KWAP, Hazman Hilmi Sallahuddin, expressed confidence in the investments, stating, “These investments signify our commitment to recognizing and fostering innovative ideas in line with the Economy Madani initiative.”
He emphasized KWAP’s dedication to working closely with investees to ensure their success, with more investments and announcements to follow. Founders of Bateriku and Lapasar, Azarol Faizi and Thinesh Kumar, respectively, expressed gratitude for KWAP’s investment, highlighting their commitment to market growth and job creation. Victor Chua of Vynn Capital and Jussi Salovaara of Antler also welcomed KWAP’s support, expressing readiness to collaborate on innovative solutions addressing industry challenges.
