Sunway Group (Sunway) and venture capital firm Kejora Capital (Kejora) has launched the US$25 million Orbit Malaysia fund with Malaysia Venture Capital Management Bhd (MAVCAP) as an 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.
“Malaysia’s startup ecosystem is on the rise and through Orbit Malaysia, a public-private partnership, we hope that we can strengthen the country’s entrepreneurial excellence, make a difference in the local startup ecosystem, and provide a regional and global platform to showcase their innovation and technological advancement. MAVCAP will continue to work together with the private sector, locally and internationally, to support national aspiration on innovation and spurring the digital economy,” Shahril Anas bin Hasan Aziz, CEO of MAVCAP.
Orbit Malaysia will be led by Raymond Hor who will be overseeing the fund as Fund Director. In his role, Raymond will leverage 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.
With Orbit Malaysia, Kejora Capital says they will be able to continue investing in Southeast Asia’s best startups and to help boost Malaysia’s ecosystem by providing companies with added value beyond just capital.
For Matthijs (Matt) van Leeuwen, Group Chief Innovation Officer of Sunway Group, Orbit Malaysia is an extension of Sunway’s unique innovation ecosystem and startup funding funnel.
