Ficus Capital, a venture capital firm based in Malaysia, has introduced Ficus SEA, a flagship fund of RM60 million catered to investments in Southeast Asia.
With Malaysia Venture Capital Management Bhd (Mavcap) as the fund’s anchor investor, Ficus Capital, said to be the first shariah compliant venture capital firm aims to support the growth of startups committed to benefitting society and sustainability economically.
“Being a shariah compliant venture capital, we believe ESG and sustainability are deeply rooted in Islamic economics and investment ethics within the parameters of people, planet, profit and principle,” said Ficus Capital co-managing partner, Abdullah Hidayat.
Rina Neoh, co-managing partner at Ficus Capital, added in that as a key enabler to the ecosystem, the company is aware of the challenges faced by startups as we regularly engage with them.
“Ficus is not just a financial investor, as we commit our energy to help startups scale their growth and sustain their businesse. Our network and experiences are their value-adding resources to help them bridge the gaps in their strategic planning, market expansion and increasing their valuation.”
Through Ficus SEA, the firm has already invested RM2 million in electric vehicle company, Eclimo, and another RM1.8 million in Indonesia’s web-based augmented reality content creation platform, Assemblr, Ficus Capital’s first international investment.
“Eclimo and Assemblr are testimonials to our principles in investing in companies that are making a future impact, now. Being a shariah compliant venture capital, we believe ESG and sustainability are deeply rooted in Islamic economics and investment ethics within the parameters of people, planet, profit and principle,” added Hidayat.