Kejora Capital, Sunway Group launch $25m Malaysia-focused fund

(From left) Leonard Chew, Investment Manager at Sunway, Matthijs (Matt) van Leeuwen, Group Chief Innovation Officer of Sunway Group, Raymond Hor, Orbit Malaysia Fund Director, Alex Tan, Orbit Malaysia Director, Muhammad Syafiq Shamsuddin, Investment Manager at MAVCAP.

Jakarta-based investment firm Kejora Capital and Malaysian conglomerate Sunway Group have launched a $25-million Orbit Malaysia fund to back early-stage startups in the country and across Southeast Asia.

In a joint statement on Wednesday, Kejora and Sunway said the new Series A fund will be anchored by the government-backed Malaysia Venture Capital Management Berhad (MAVCAP) to invest in companies operating in fintech, agritech, e-commerce, edtech, and healthtech sectors.

Led by Raymond Hor, Orbit Malaysia will help early-stage Malaysian and Southeast Asian companies expand regionally. Hor, an entrepreneur and a GP, has invested in 30 startups as an angel investor, accelerator, and VC over the last decade, according to Kejora’s website.

“Malaysia is home to a fast-growing and vibrant startup ecosystem, and there is great potential for Malaysian companies to become Southeast Asia’s next unicorn,” Hor said in the statement.

Kejora Capital managing partner Andy Zain said Orbit Malaysia will leverage on vast network and support brought by MAVCAP and Sunway Group to cultivate partnerships and cross-border collaborations.

Kejora Capital was founded in 2014 with a focus on early to growth-stage tech investments. Its portfolio includes fintech unicorn Kredivo, Investree, and Sicepat Ekspres Indonesia.

The venture capital has over $600 million in assets under management to date with 38 portfolio firms, including four unicorn exits.

DealStreetAsia, citing multiple sources, reported in July that Kejora was in the market to raise $300 million for a new fund that will focus on follow-up investments for its portfolio companies.

Sunway Group, which is into real estate, construction and healthcare, has, through its various funds and accelerator programmes, invested in early-stage startups such as Jomrun, Red Dino, Ento, CozyHomes, Quadby, Wise AI to growth-stage startups like regional eCommerce enabler Intrepid and The Lorry.

In addition, Sunway’s venture building portfolio includes companies like Sunway XFarms, 42KL
coding school, Sunway R&D, PopBox, and Sunway Pharmacy.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.