MALAYSIAN multi-family private investment firm RHL Ventures has launched a RM100 million (S$32.8 million) fund to back Malaysian startups and early-stage small and medium enterprises (SMEs) with significant operations in Malaysia. SME Corp Malaysia, a government agency, made a “significant investment” in the fund, said RHL in a press statement.
While a large portion of its previous investments were channelled to grow innovative startups within the tech space, the focus of the firm’s latest fund will be broader and more sector-agnostic.
Rachel Lau, managing partner of RHL Ventures, said: “The government has typically led investments that support local businesses during their early stages, so we are glad that the current administration is ramping up its support to instil more innovation within the local business sector. What RHL Ventures aims to do with this fund is to invest in new businesses that are looking to bring new ideas and disruption in the current ways of doing business.”