Ekuinas Launches New RM100 Million Fund Targeting Bumiputera Medium Scale Companies

Ekuiti Nasional Berhad the government-linked private equity fund management company, has launched a new fund called DANA ASAS with a capital commitment of RM100 million to accelerate the growth of Bumiputera medium scale companies with high growth potential.

Economic Minister Rafizi Ramli said, “The launch of DANA ASAS by Ekuinas, with a RM100 million capital commitment, is a timely impetus in our administration’s efforts to transition to an innovation-led growth model that would depend on our ability to identify high-growth companies to lead the way. The mid-market Bumiputera companies that Ekuinas will select have proven commercial viability and operational excellence to scale. The strategic injection of capital, expertise, and network to these companies will accelerate their success. As more entrepreneurs leave their mark on a national, regional, and global scale, more creative and brave Malaysians will try their hand at creating something that is commercially viable and socially valuable.” 

DANA ASAS aligns with Ekuinas’ mandate to increase Bumiputera equity and participation. Ekuinas will help companies leverage on opportunities, expand, scale-up and compete as next generation leading companies. The fund is open to all sectors except construction, real estate, gambling and liquor. 

“As these are typically smaller companies, we are looking at holding the investments for between 5 to 7 years. It will be a vigorous transformation for our investees,” Syed Yasir Arafat added.

Eagle Cliffe (M) Sdn Bhd, which owns Kaisar Farmasi, has been named as its first investee company under DANA ASAS. Eagle Cliffe, which began operations in 2013, today has a chain of 19 Kaisar Farmasi outlets in the Klang Valley with a roadmap to expand to 100 outlets across Malaysia over the course of Ekuinas’ investment period. This new investment brings Ekuinas’ portfolio of companies to 11, spanning the oil & gas, education, F&B, pharmaceutical and healthcare, technology, manufacturing and retail sectors.

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