KWAP invests $21M in Antler, Vynn Capital, Bateriku, Lapasar

Kumpulan Wang Persaraan (KWAP), the steward of Malaysia's public employees' pension scheme, has injected 100 million ringgit (approximately $21M) into the local startup ecosystem.

• Dana Perintis Debut: KWAP's investments mark the debut of its Dana Perintis program, signaling a bold leap into the dynamic realm of startups.

• Direct Investments: KWAP isn't just dipping its toes; it's diving headfirst into the action by directly investing in two promising ventures. First up is Lapasar, a digital wholesale platform revolutionizing the FMCG sector. And then there's Bateriku, an innovative app streamlining services like car battery replacements and vehicle servicing.

• Venture Capital Boost: It's spreading its wings further by funding two VCs: Antler, a global early-stage VC firm, and Vynn Capital, a homegrown Malaysian VC player.

• KWAP: A Pillar of Support: Since its inception in 2007, KWAP managed contributions from the federal government and related agencies. Now, it's channeling its financial prowess into nurturing the country's entrepreneurial spirit.

• Bold Vision: In September 2023, KWAP unveiled plans to inject up to a staggering US$105M into the startup ecosystem over the next 18 to 24 months.

KWAP's foray into the startup realm isn't just about financial gains; it's about catalyzing positive change, fostering innovation, and shaping Malaysia's future. With its investments and partnerships, KWAP is poised to leave an indelible mark on the Malaysian startup landscape.