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.
