PENJANA KAPITAL: PARTNERSHIP WITH INDONESIA’S
INDIES CAPITAL AND AC VENTURES PAVES WAY FOR
CROSS-BORDER INVESTMENT AND TECHNOLOGY TRANSFER
JAKARTA: (MONDAY) (9 January 2023) – Penjana Kapital Sdn Bhd (Penjana Kapital), which was incorporated in 2020 as part of the government’s initiative to catalyse the development of innovative start-up companies, has signed a Memorandum of Cooperation with leading Indonesian-focused investment firms Indies Capital Partners and AC Ventures.
YAB Prime Minister Dato’ Seri Anwar Ibrahim witnessed the signing ceremony during the Prime Minister’s two-day working visit to Jakarta.
Indies Capital Partners is one of the earliest private credit-focused managers established in Southeast Asia. Today, the firm has evolved into a top-quartile, award-winning alternative asset manager from the region, with strategies spanning from private credit to private equity, and assets under management of more than US$800 million.
AC Ventures is a leading Southeast Asian venture capital firm investing in early-stage start-ups focused on Indonesia and ASEAN. AC Ventures currently has over US$500 million in assets under management, invested across five funds. Since 2012, the firm’s partners have invested in more than 100 technology companies in the region, including some of the most iconic names in the ASEAN digital ecosystem.
The memorandum establishes a working framework for Penjana Kapital and Indonesia’s Indies Capital Partners as well as AC Ventures to explore co-investment opportunities in Malaysia- Indonesia growth companies through existing and soon to be launched funds. It also solidifies the commitment to facilitate cross-border investments as well as technology transfer in identified sectors such as data centres, education, hospitality, mobility and waste management involving Indonesian and Malaysian start-ups.
Both countries have shown immense commitment to foster sustainable economic development and promote the growth of the green economy. Total trade value between Malaysia and Indonesia rose 43.5% to RM95.1 billion in 2021 compared to 2020. Total Malaysian exports to Indonesia was up 32.5% to RM39.22 billion while total imports saw a 52.3% improvement to RM55.88 billion in the same period, according to the Malaysia External Trade Development Corporation (Matrade).
This partnership will help Penjana Kapital to find investment opportunities in emerging sectors such as data centres, mobility, and waste management to cater to future needs of fast-growing Indonesia. In addition, Penjana Kapital, with the help from Indies Capital Partners and AC Ventures, will facilitate Malaysian and Indonesian companies to pursue business opportunities in these sectors, exchange knowledge as well as transfer technology for industry development and trade network.
Penjana Kapital’s flagship programme - Dana Penjana Nasional - has, thus far, raised a total commitment of RM1.3 billion for its eight (8) funds as of December 2022 on a matching basis of roughly 1:1 i.e. the Ministry of Finance will match every ringgit that is successfully brought in by the fund. Of the total, RM720.9 million came from foreign and private local investors. Penjana Kapital is also pleased to announce that Dana Penjana Nasional has approved 53 investments valued at RM527.64 million. END
Mengenai Penjana Kapital
Penjana Kapital ditubuhkan pada 1 Julai 2020 sebagai sebahagian daripada inisiatif Kerajaan Malaysia untuk mempercepat pemulihan ekonomi Malaysia. Ia ditubuhkan untuk mendokong digitalisasi dan automasi perniagaan Malaysia dengan membawa dana dari pelabur antarabangsa dan tempatan ke pasaran modal teroka tempatan.
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Penjana Kapital Sdn Bhd