Khazanah Nasional Berhad completed the acquisition of MAVCAP and Penjana Kapital.

Khazanah Nasional Berhad, the sovereign wealth fund of the Government of Malaysia, completed the acquisition of Malaysia Venture Capital Management Berhad, a venture capital fund, and Penjana Kapital, a government-backed venture capital agency. Financial terms were not disclosed. “The integration of MAVCAP and PK represents an opportunity to build on the solid foundations of these entities while implementing new initiatives aimed at further strengthening Malaysia’s VC ecosystem. By consolidating investment platforms across multiple investment agencies, Malaysia will be better positioned to ensure greater sustainability of funding, crowd-in private capital, attract regional VC firms into the country and catalyse strategically important sectors,” Amirul Feisal Wan Zahir, Khazanah Managing Director.