Malaysian private investment firm RHL Ventures announced a RM100 million fund designed to support the growth of local small and medium enterprises (SMEs).
The fund is participated by several notable investors, with SME Corp. Malaysia making a significant investment, signaling one of the first public and private collaboration. RHL Ventures will focus on backing Malaysian start-ups and early-stage SMEs with significant operations in Malaysia.
“Ever since we started RHL Ventures, we have been inspired by how small businesses – even those with the humblest of beginnings – can make transformational impact in their industries and the greater economy,” said Rachel Lau, Managing Partner of RHL Ventures.
What RHL Ventures aims to do with this fund is to invest in new businesses that are looking to bring new ideas and disruption in the current ways of doing business. Founded in 2016 RHL Ventures is a multi-family private investment firm headquartered in Malaysia who champions growth for the best businesses in Southeast Asia.
“In Malaysia, SMEs comprise over 98% of total business establishments and contribute more than 37% to the national GDP – they form a central pillar of Malaysia’s economy,” said Noor Azmi Mat Said, CEO of SME Corp. Malaysia. To ensure a higher contribution of SMEs to the national economy, there is a need for more concerted efforts to be affected by stakeholders within the SME ecosystem; an example which private sector players such as RHL Ventures is helping to lead, he added.
Through its latest fund, RHL Ventures is underscoring its commitment to empower local businesses that possess the vision to make a significant impact in Malaysia and the greater region. To date, RHL has invested in innovative businesses within Malaysia’s burgeoning tech start-up space; including healthcare software-as-a-service (SaaS) company HealthMetrics and healthy snacks e-commerce platform Signature Market among others.