Sunway Group (Sunway), one of Malaysia’s largest conglomerates and Kejora Capital (Kejora), a leading venture capital (VC) firm, has launched the US$25 million Orbit Malaysia fund.
This is the first time a Malaysian conglomerate, in partnership with a leading VC firm from Indonesia, formed a fund with Malaysia Venture Capital Management Berhad (MAVCAP) as anchor investor.
Orbit Malaysia will actively invest in Series A, industry-leading companies operating in the FinTech, AgriTech, eCommerce, EdTech and HealthTech sectors, and will invest not only in Malaysian startups, but also significantly in other high-growth Southeast Asian startups.
These companies will be able to tap into Sunway’s various business divisions ranging from property, healthcare, education, retail, and digital as well as Kejora’s digital ecosystem.
There is also a strategic angle of ‘Jakarta Express’ to help Malaysian startups and investors capitalise on the high growth Indonesia market via Kejora.
Orbit Malaysia will be led by Raymond Hor who will be overseeing the fund as Fund Director.
In his role, Raymond will leverage on the vast network of seasoned business leaders and multi-sector industry experts from Sunway and Kejora Capital to help early-stage Malaysian and Southeast Asian companies expand their market base through regional expansion.
“Malaysia is home to a fast-growing and vibrant startup ecosystem, and there is great potential for Malaysian companies to become Southeast Asia’s next unicorn.
“With a proven track record in the region and combined cross-border ecosystem, we are confident of replicating our success to empower Malaysian companies to scale rapidly throughout Southeast Asia and beyond,” says Raymond Hor, Orbit Malaysia Fund Director.
-NIAGATIMES
