Malaysia-based venture capital firm RHL Ventures is on track to close its Hibiscus Fund at 300 million ringgit ($71.4 million) by the end of March, said a senior executive at the firm.
The Hibiscus Fund is a co-general partner (GP) fund with South Korea’s KB Investment. It is also one of eight funds backed by Penjana Kapital, a Malaysian government fund-of-funds programme aimed at spurring digitalisation and innovation in the country.
