Malaysian VC firm RHL Ventures eyes up to $100m final close of Hibiscus Fund

Partners at RHL Ventures: (L-R) Teng Chen Shun, Jo Jo Kong, Rachel Lau, Tengku Ahmad Ridhwanuddin, Raja Hamzah Abidin.

Malaysia-based venture capital firm RHL Ventures is looking at raising up to $100 million for Hibiscus Fund, a venture vehicle it formed with South Korea’s KB Investment Co.

RHL Ventures managing partner Rachel Lau confirmed to DealStreetAsia that the fund, which made its first close at $50 million, is targeting a final close at $80 million to $100 million.

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