Jelawang Capital Company Profile

Background

Jelawang Capital Sdn Bhd is Malaysia's National Fund-of-Funds, established in October 2024 as a subsidiary of Khazanah Nasional Berhad. Its mission is to strengthen Malaysia's venture capital (VC) ecosystem by channeling investments through skilled fund managers, thereby supporting high-growth startups and fostering innovation. The company's vision is to create a vibrant VC ecosystem that drives economic growth, job creation, and technological advancement in Malaysia.

Key Strategic Focus

Jelawang Capital's strategic focus includes:

Emerging Fund Managers’ Programme (EMP): Aims to nurture promising Malaysian VC fund managers raising their first, second, or third funds, enhancing their competitiveness and track record.

Regional Fund Managers’ Initiative (RMI): Seeks to attract international fund managers committed to enriching Malaysia's startup ecosystem by supporting local startups to become regional and global players.

Financials and Funding

In 2024, Jelawang Capital launched with an initial allocation of RM1 billion, as announced during the KL20 Summit. This capital is intended to be deployed through the EMP and RMI initiatives to support VC fund managers and startups.

Pipeline Development

As of June 2025, Jelawang Capital selected five VC firms under the EMP and RMI:

EMP Recipients:

Vynn Capital: Focuses on mobility and supply chain sectors across Southeast Asia.

Kairous Capital: Specializes in cross-border investments, aiding Malaysian startups in scaling into key Southeast Asian markets.

First Move: Supports pre-seed stage startups across Southeast Asia, emphasizing AI-native companies.

RMI Partners:

AppWorks: An early-stage VC from Taiwan investing in AI, blockchain, and the digital economy in Southeast Asia.

Granite Asia: A multi-stage investor focusing on transformative opportunities across Asia.

Leadership Team

Datuk Hisham Hamdan: Chairman; also Chief Investment Officer of Khazanah Nasional Berhad.

Johan Mohd Roslie: Director; previously Senior Vice President of the Private Equity Department at Kumpulan Wang Persaraan (KWAP).

Ruswati Othman: Director; former Chief Strategy and Investment Officer of Malakoff Corporation Berhad.

Chris Chia Woon Liat: Director; founder and Managing Partner of Kendall Court Capital Partners Ltd.

Bryan Lim Tsin Lin: CEO and Director; also Head of Dana Impak and Healthcare at Khazanah Nasional Berhad.

Leadership Changes

In June 2025, CEO Bryan Lim announced his resignation, effective June 30, 2025.

Competitor Profile

Market Insights and Dynamics

Malaysia's VC ecosystem is evolving, with initiatives like Jelawang Capital aiming to position the country as a preferred regional VC hub by 2030.

Competitor Analysis

Key competitors include other national and regional fund-of-funds and VC firms operating in Southeast Asia, focusing on similar sectors and stages of investment.

Strategic Collaborations and Partnerships

Jelawang Capital collaborates with both local and international VC firms through its EMP and RMI initiatives, aiming to enhance the capabilities of Malaysian fund managers and attract global expertise.

Operational Insights

By acting as an anchor investor, Jelawang Capital aims to crowd-in further capital from other local or international investors, thereby strengthening the local VC ecosystem.

Strategic Opportunities and Future Directions

Jelawang Capital plans to continue its efforts in nurturing local VC fund managers and attracting international partners, aligning with Malaysia's vision to become a regional VC hub by 2030.