THE Employees Provident Fund (EPF) is committing up to RM250 million aimed at catalysing mid-to-growth-stage companies in Malaysia through its partnership with Gobi Partners.
Gobi Partners is a pan-Asian venture capital firm with an extensive investing track record.
The partnership is part of its commitment to increase deployment into the domestic market, strengthening its position as the largest investor in the domestic market with assets under management of RM702.48 billion as of December 2023, the EPF said in a statement today.
“The investments will focus on six strategic themes, which include healthcare focusing on aged care and the silver economy; agriculture and food science looking at improving the food production ecosystem; financial services inclusivity; sustainability focusing on energy transition; education aiming at provision of quality education; and social infrastructure as well as future themes that would fit into the EPF’s strategic mandate,” it said.
EPF chief executive officer Ahmad Zulqarnain Onn said that the retirement fund is committed to participating in the growth journey of high-potential companies in Malaysia as it aligns its strategy with the development of an inclusive social protection ecosystem.
“This commitment was mandated to cater to several strategic investment themes which include healthcare, with a specific focus on aged care and the silver economy, reflecting the EPF’s recognition of the importance of addressing the needs of an ageing population.
“In the long run, we hope this effort contributes to building a resilient society to economic and social challenges while delivering profitable returns for our members,” he said.
Meanwhile, Gobi Partners co-founder and chairman Thomas G. Tsao said the venture capital firm is proud to stand alongside the EPF in this significant commitment towards the growth of mid-to-growth-stage companies in Malaysia.
“Our strategic focus on the six key themes underscores our dedication to driving innovation and creating lasting socioeconomic impact,” he said.
The EPF remains committed to increasing its investments in mid-to-growth companies as they are integral to the provident fund’s mission of creating long-term value for members and providing capital to the Malaysian economy as a whole.
“In support of the Madani Economy Framework, the EPF seeks to play an integral role with the other government-linked investment companies in supporting and advancing the early-stage ecosystem, and by strategically investing and addressing critical gaps where it could help propel the growth trajectory of these earlier stage companies while reaping attractive risk-adjusted returns.
“The commitment also represents EPF’s continuous efforts to strengthen social protection through strategic investments in promising mid-sized companies within the Malaysian landscape,” it added. – Bernama, March 18, 2024
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