- Kumpulan Wang Persaraan (KWAP) made its first investments totaling $21 million.
- KWAP directly funded grocery delivery platform Lapasar and auto service app Bateriku.
- The Dana Perintis initiative allocates up to $105 million to deploy over 18-24 months into startups.
Kumpulan Wang Persaraan (KWAP), the pension fund for Malaysia’s civil servants, has made its first investments totaling 100 million ringgit ($21 million) into the country’s startup ecosystem through its Dana Perintis program.
How is KWAP fueling innovation?
The retirement manager directly funded the grocery delivery platform Lapasar and the auto service booking app Bateriku.
It also injected capital into global early-stage VC firm Antler and Malaysia-based Vynn Capital to support their local startup investing activities.
National development goals
Established in 2007 to manage federal employee pensions, KWAP announced the Dana Perintis initiative last September, earmarking up to $105 million to deploy over 18-24 months.
The program targets startups in priority areas like green tech, financial access, food sustainability, and solutions for climate change and an aging population.
KWAP is stepping up Malaysian pension capital allocation to new growth companies.
The strategic investments aim to support technology-driven business models and progress toward national development goals.
