It’s a first! Malaysian pension fund Kumpulan Wang Persaraan (Diperbadankan) or KWAP invested 100M MYR (roughly $21M) into two local startups and two venture capital fund commitments. 

• This is their first investment under the Dana Perintis fund, which was set up last year. 
• The exact amount invested in the companies and firms was undisclosed. 

For context. The Dana Perintis fund was launched to accelerate the local startup ecosystem and will be used to invest up to 500M MYR ($104.6M) in local startups and VC funds in the next few months.

• The fund focuses on the digital economy, financial inclusion, food security, education, the silver economy, and climate change sectors.

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🌝 Follow the $$$

Bateriku, an automotive service provider, and Lapasar, an online wholesale marketplace, received direct investments. 

• Bateriku provides on-demand battery replacement services, including inspection, delivery, and installation across Malaysia.
• Meanwhile, Lapasar is a B2B e-marketplace that connects corporate buyers with suppliers selling pantry tools, office supplies, electric equipment, and more. The startup raised $1.8M in funding in 2021.

And the VCs? Meanwhile, KWAP made fund commitments to home-grown fund Vynn Capital and Antler, which recently expanded its flagship founder residency program to Malaysia.

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*1 MYR = 0.209 USD