Frequently Asked Questions
Introduction to the National Fund of Funds
- Jelawang Capital is Malaysia’s National Fund of Funds under Khazanah Nasional Berhad. It was established to strengthen Malaysia’s venture capital ecosystem by coordinating resources, enhancing efficiency, and fostering collaboration across public and private sectors.
- As a fund of funds, Jelawang Capital invests in venture capital fund managers who, in turn, invest in innovative and high-growth startups founded by entrepreneurs in Malaysia and across the region.
- Following Khazanah’s consolidation of Malaysia Venture Capital Management Berhad (MAVCAP) and Penjana Kapital in July 2024, Jelawang Capital was formed to build a vibrant and thriving venture capital ecosystem and to position Malaysia as a preferred regional player in venture capital.
- Jelawang Capital supports Malaysia’s innovation economy by enabling venture capital investment into high-potential startups and emerging fund managers. Through catalytic funding and partnerships, it helps Malaysian companies with innovative technologies and/or business models to expand regionally and globally.
- By building the capacity of Malaysian venture fund managers, Jelawang Capital will indirectly contribute to economic growth, job creation, and the development of local talent that drives innovation and entrepreneurship.
- This initiative supports the national vision of increasing venture capital penetration from USD 758 million in 2022 to USD 1.4 billion by 2030, as outlined in the Malaysia Venture Capital Roadmap 2024–2030 (MVCR).
- Jelawang Capital has an initial allocation of RM1 billion under Khazanah’s Dana Impak initiative.
Alignment with Khazanah Nasional and Government Initiatives
- The establishment of Jelawang Capital is aligned with Khazanah’s Advancing Malaysia strategy anchored by the ‘A Nation That Creates’ framework that aims to boost national productivity and competitiveness. As part of Khazanah’s Dana Impak initiative, Jelawang Capital channels catalytic capital into Malaysia’s venture capital ecosystem, driving innovation and building long-term economic resilience.
- These initiatives are a part of Khazanah’s commitment under the GEAR-uP programme, led by the Ministry of Finance “MOF”, in synergising efforts across Government-Linked Investment Companies “GLICs” and catalysing growth in key economic sectors.
- Launched in April 2024, the MVCR outlines a coordinated plan to position Malaysia as Southeast Asia’s preferred venture capital hub by 2030. Jelawang Capital plays a key facilitation role by supporting, tracking, and aligning the implementation of the MVCR’s eleven (11) interventions that aim to deepen capital formation, strengthen fund manager capability, and attract regional partnerships.
- Jelawang Capital’s establishment also aligns with national strategies including the Malaysia Startup Ecosystem Roadmap 2021 - 2030 (SUPER) and the KL20 Action Paper by promoting collaboration among local and international fund managers, expanding funding access for startups, and attracting regional VC firms to engage with Malaysia’s innovation economy.
- Through Khazanah, Jelawang Capital also contributes to the GEAR-UP initiative led by the Ministry of Finance, which aims to support local entrepreneurs and catalyse high-growth and high-value sectors through coordinated investments and partnerships across government-linked investment companies (GLICs).
Fund Programmes
- Jelawang Capital is sector agnostic.