KB Investment, RHL Ventures launch $55m co-GP fund backed by Malaysia’s Penjana Kapital

Kuala Lumpur, Malaysia. Photo by Kah Hay Chee on Unsplash

South Korea’s KB Investment and Malaysia’s RHL Ventures have launched a $55-million co-general partner (GP) fund backed by Malaysia government-backed Penjana Kapital, said a senior executive at the fund.

KB and RHL’s “Hibiscus Fund” comes under a Malaysian government scheme called Dana Penjana Nasional aimed at spurring digitalisation and innovation amidst the COVID-19 pandemic and economic challenges in Malaysia.

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