Penjana Kapital Sdn Bhd, founded as part the Malaysian government’s efforts to catalyze a start-up development-driven initiative, has entered into memorandum of cooperation with Indonesia-based private investment firms Indies Capital Partners and AC Ventures.
Witnessed by Prime Minister (PM) Datuk Seri Anwar Ibrahim and Minister of International Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz, the partnership establishes a framework that will see the three parties explore co-investment opportunities in Malaysia-Indonesia growth companies through existing and soon-to-launch funds.
The framework also promotes cross-border investments and technology transfer in the data centre, education, hospitality, mobility and waste management sectors, which include Indonesian and Malaysian start-ups.
Pandu Sjahrir, Founding Partner at ACV and Managing Partner at Indies, commented that as the three are all major players in the investment landscapes of Indonesia and Malaysa, the firms have the opportunity to tap into new markets, access new sources of capital and expertise, and drive innovation and growth in both markets through cross-border cooperation and investment.
“By working together, we can also deepen economic ties between Indonesia and Malaysia, and promote a more interconnected and prosperous Asean region. The key to realising this potential is in fostering a spirit of collaboration and prioritising the interests of both nations,” he added.
This partnership is also especially beneficial in helping Penjana Kapital find new and impactful investment opportunities from emerging sectors in Indonesia’s fast-growing economy.
Further, Indies Capital Partners and AC Ventures, with the help of Penjana Kapital, will help Indonesian and Malaysian companies pursue scalable business opportunities, exchange key knowledge and share technology for industry development and trade networking.
One of the earliest established private credit-focused managers in Southeast Asia, Indies Capital Partners has evolved into a top-quartile, award-winning alternative asset manager in the region with more than USD$800 million in assets under management while AC Ventures is backed by some big names in business and has managed over USD$500 million in assets spread across five funds.