Indonesia-based venture capital firm Kejora Capital has partnered with Malaysia-based conglomerate Sunway Group to launch a new fund called Orbit Malaysia. Government-backed Malaysia Venture Capital Management was the anchor investor of the US$25 million fund.
Representatives from Orbit Malaysia, Sunway Group, and Malaysia Venture Capital Management / Photo credit: Orbit Malaysia
Orbit Malaysia will focus on joining the series A rounds of startups in the fintech, agritech, ecommerce, edtech, and healthtech sectors. It will look for companies not only in Malaysia, but also across Southeast Asia.
Portfolio firms of the fund will be able to tap into Sunway Group’s businesses in property, healthcare, education, and retail. Kejora Capital can also help these startups enter the Indonesian market more effectively with the VC’s experience in the country.
The fund will be led by Raymond Hor, who has been a Kejora Capital partner since 2018.
Founded in 2014, Kejora Capital has more than US$600 million in assets under management. There are 38 startups in its portfolio, including buy now, pay later service Kredivo and logistics provider SiCepat.
Meanwhile, Sunway Group has backed several startups through investment funds and accelerator programs. Among the startups that the conglomerate has backed include ecommerce enabler Intrepid and logistics firm The Lorry.
Editing by Miguel Cordon and Lorenzo Kyle Subido
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
