Malaysia-based Iris Capital Partners has launched Iris Fund, a 160 million Malaysian ringgit (US$37.8 million) fund co-managed with South Korea-based Hanwha Asset Management.
It is the first privately-led venture debt fund in Malaysia, and it targets high-impact startups locally and across Southeast Asia.
Iris Fund chairman Wan Kamaruzaman Wan Ahmad / Photo credit: Iris Fund
“While the Iris Fund isn’t limited to specific sectors or funding stages, we do look for companies with comprehensive business plans and projections that have clear strategies for long-term growth prospects,” said Wan Kamaruzaman Wan Ahmad, chairman of the Iris Fund.
The fund has already joined foodtech firm Growthwell Group’s US$22 million series A round.
Iris Capital Partners was established in 2020 under the Dana Penjana Nasional program of the Malaysian government’s economic recovery agency.
Editing by Collin Furtado and Lorenzo Kyle Subido
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