PENJANA KAPITAL OPENS RFP FOR VENTURE CAPITAL FUND MANAGERS
KUALA LUMPUR: (Friday) (11 September 2020) – Penjana Kapital Sdn Bhd (Penjana Kapital) is pleased to announce that it is commencing the Request for Proposal (RFP) process for the Dana Penjana Nasional fund of funds program, to select venture capital fund managers.
The proposal from applicants must demonstrate, amongst others, extensive knowledge of the tech ecosystem (including Malaysia), proper investment strategy and process, proposed talent development and knowledge transfer program to be carried out. The applicant is expected to have track record of current/previous funds as well as fundraising capabilities. The proposal must demonstrate how it can result in tangible benefits to the Malaysian economy.
The RFP process will begin accepting submissions commencing today, 11 September 2020 and the deadline for submissions is at 5pm on 25 September 2020. Under the inaugural Dana Penjana Nasional fund of funds program, Penjana Kapital and selected applicants will be allocating the RM1.2 billion (RM600 million from Dana Penjana Nasional) fund across the whole venture capital life cycle as follows:
This fund is specifically dedicated as a start-up launchpad by co-creating companies or providing seed capital to early-stage start-ups.
b. Series A/B
Invest in post-revenue companies that have passed the ideation stage and ready to scale up.
c. Growth Stage
The expansion stage for a company, after Series A/B.
d. Venture Debt
Specifically dedicated fund to provide short/mid-term financing for early, mid, and late stage companies, which are usually not covered by the banks.
Application process timeline
||Venture Capital Managers
|11 – 25 September 2020
||Submission of Application
Applicants are expected to submit proposals before 5pm, 25 September 2020.
Assessment and screening of all proposals to be conducted. There will be a follow up with applicants during this evaluation process.
Interviews with shortlisted funds across different categories will also be carried out (only shortlisted applicants will be notified).
About Penjana Kapital
Penjana Kapital was incorporated on 1 July 2020 as part of the Government of Malaysia’s initiative to accelerate Malaysia’s economic recovery. It was established to support the digitalisation and automation of Malaysian businesses by bringing funding from international and local investors into the local venture capital space.
For further information, please contact:
Penjana Kapital Sdn Bhd