Malaysia’s RHL Ventures launches accelerator program for local startups

Malaysian private investment company RHL Ventures announced the launch of an accelerator program aimed at growing local businesses focused on emerging technologies.

From left: RHL Ventures executives Jo Jo Kong, Raja Hamzah Abidin, Teng Chen Shun, and Rachel Lau / Photo credit: RHL Ventures

Founded in 2016, RHL Ventures is a multifamily firm that pools its experience in investments, corporate advisory, and capital markets to help drive growth for startups and small and medium-sized enterprises in Southeast Asia.

“Our new accelerator program underlines our firm’s stronger refocusing of efforts to grow Malaysia’s entrepreneurial and investment ecosystem along more sustainable lines,” said RHL Ventures managing partner Rachel Lau.

The company made the announcement during a press conference yesterday, which also marked the inauguration of RHL Ventures’ new office in Kuala Lumpur.

Earlier this year, the firm launched a US$24.3 million fund to support local early-stage SMEs with significant operations in Malaysia. It included a significant investment from SME Corp. Malaysia, the central coordinating agency under the Ministry of Entrepreneur Development Malaysia.

With most of the firm’s previous investments focusing on tech startups, RHL Ventures said it wanted the new fund to be broader and more industry-agnostic.

The company also made some investments in homegrown startups this year. In January, it injected an undisclosed amount of funding to healthcare management platform HealthMetrics. It also invested in online interior design marketplace Atap.co in February. Some of its other recent investments include Ride Jakarta, Signature Market, and Alami.