KUALA LUMPUR: Sunway Group and Indonesia’s leading venture capital (VC) firm, Kejora Capital has launched a US$25 million (US$1=RM4.17) Orbit Malaysia Fund, focusing on early-stage Malaysian startups.

       In a statement today, Sunway said Malaysia Venture Capital Management Bhd (MAVCAP) will act as an anchor investor and the fund will actively invest in Series A financing, not only in Malaysian startups but also significantly in other high-growth Southeast Asian startups.

       Orbit Malaysia Fund director Raymond Hor said the fund is an alliance set up in the spirit of collaboration to leverage the combined resources not just to help startups, but also as a platform for more private corporations to participate in VC investment.

       "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," he said.

       Meanwhile, Sunway Group chief innovation officer, Matthijs (Matt) van Leeuwen said Orbit Malaysia is an extension of the conglomerate’s unique innovation ecosystem and startup funding funnel.

       "We share the same mission as Kejora Capital to invest in category-leading startups and at the same time, create real social and sustainable impact.

       "With the backing from our anchored limited partner MAVCAP, both Sunway and Kejora Capital can definitely replicate such performance in Malaysia," he said.

       To date, Kejora Capital has over US$600 million in assets under management (AUM) with 38 portfolios across eight years of existence, birthing four unicorn exits, said Sunway. - Bernama