RM450mil opportunity for startups from Khazanah, KWAP - Anwar
KUALA LUMPUR: Khazanah’s Jelawang Capital and the Retirement Fund (Incorporated) (KWAP) Pioneer Fund will invest RM450 million in start-up developments.
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim announced a RM450 million investment opportunity for startups through Khazanah's Jelawang Capital and KWAP Pioneer Fund. The New Industrial Master Plan Fund, KWAP's Dana Pemuda, and Khazanah's Malaysia Mid-Tier Companies Fund will contribute a total of RM2.1 billion. This funding will bolster mid-tier companies in the electrical and electronics, digital, aerospace, and medical devices sectors.
Additionally, RM270 million will be allocated to support SMEs, mid-tier companies, and social enterprises through private capital via equity crowdfunding and peer-to-peer platforms. Income tax exemptions for individual investors on equity crowdfunding platforms and angel investors funding early-stage technology startups will be extended until December 31, 2030.
Anwar, also serving as Finance Minister, allocated RM41 million to Cradle Fund for implementing the Start-up Ecosystem Roadmap and granting prototype development and commercialization assistance. The fifth Madani Budget, themed "Malaysia Madani: Menggapai di Langit, Mengakar di Bumi," is the second budget under the 13th Malaysia Plan.
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