Khazanah, in a statement, said the launch of the Emerging Fund Managers’ Programme (EMP) and the Regional Fund Managers’ Initiative (RMI) underscores the NFOF’s commitment to enhance access to capital for startups, drive innovation, and spur economic growth.

“With the launch of the EMP, we aim to ensure the continued growth of our local VC fund managers, and we see the RMI as another critical step in our commitment to foster a dynamic VC ecosystem in Malaysia.

“As innovation is borderless, the availability of capital, talent, and tech technology will determine the future of Malaysia,” managing director Amirul Feisal Wan Zahir said.

He said the NFOF will focus on the creation of local champions under the EMP while attracting international capital and partners.

“This aligns with the aspirations of the Madani economy to “raise the ceiling” through digital, innovation-led industries and support high-growth companies to become regional champions.

These efforts will help fuse local and international expertise, perspectives, and knowledge to spur a vibrant ecosystem, fuelling progress and advancements,” he added.

Khazanah said the EMP is a significant step to advance Malaysia’s VC and innovation ecosystem as the NFOF will anchor the fundraising efforts of emerging local fund managers.

“The programme signals a stronger confidence to prospective fund investors to invest in fund managers who have the potential to be regionally competitive,” it said.

Thereafter, Khazanah said the start-up ecosystem will benefit from the crowding-in of private and other capital into these managers, boosting innovation-driven startups in Malaysia.

“The EMP is scheduled to commence in November 2024 and is open to all Malaysian General Partners (GPs), focusing on VC fund managers, who are raising their first, second, or third fund – based in Malaysia or overseas.

“On the other hand, the RMI represents the NFOF’s initiative to attract international fund managers who are committed to enriching the ecosystem, including supporting the growth of Malaysian startups to be regional and global players,” it said.

Khazanah said it also aims to facilitate the redomiciling of global companies in Malaysia to expand local job capabilities, attract talent, and deepen innovation.