Khazanah Leads Up to $627 Million Venture Fund for Region (1)

Malaysia’s sovereign wealth fund Khazanah Nasional Bhd. will set up a venture capital of up to 3 billion ringgit ($627 million) with two other partners to invest in startups in Southeast Asia.

Local pension fund Kumpulan Wang Persaraan Diperbadankan, or KWAP, and Blue Chip Venture Capital will co-invest in the fund.

Malaysia is also offering incentives to global tech firms setting up shop in the country, including office space subsidies and visa exemptions. Arm Holdings PLC and OCI Holdings were among companies that signed letters of intent to invest in the Southeast Asian country.

Anwar Ibrahim during the KL20 Tech Forum in Kuala Lumpur on April 22.

Photographer: Samsul Said/Bloomberg

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