# Penjana Kapital Penjana Kapital is a Government / Public Body based in Kuala Lumpur, Malaysia. ## Overview - **Organization type:** Government / Public Body - **Headquarters:** Kuala Lumpur, Malaysia - **Region:** Asia - **Address:** Malaysia - **Founded:** 2020 - **Assets under management:** Undisclosed - **Website:** penjanakapital.com.my - **LinkedIn:** https://www.linkedin.com/company/pksb ## Regulatory record - **Reports private funds:** No ## About Penjana Kapital was established in 2020 as part of Malaysia's economic recovery initiative, designed to catalyze the domestic venture capital ecosystem through government-backed capital. The firm originally operated as a matching-fund entity under the Ministry of Finance. In July 2024, Khazanah Nasional Berhad acquired Penjana Kapital, bringing it alongside Malaysia Venture Capital Management (MAVCAP) under a unified National Fund-of-Funds structure that consolidates state-directed venture deployment. The firm deploys capital primarily through fund-of-funds and co-investment models. Its flagship vehicle is Dana Penjana Nasional, a matching fund-of-funds that partners with private and international venture capital managers to back Malaysian startups. The strategy spans venture capital and growth equity. Confirmed portfolio exposure includes Sea Limited (Shopee) via the Capital Connections Forum series. Penjana Kapital operates exclusively in Malaysia, with ecosystem linkages to the broader Southeast Asian region. It also maintains the Halogen Capital position, a digital asset fund manager licensed by Malaysia's Securities Commission. Penjana Kapital co-invests alongside sister agency MAVCAP, with the post-2024 consolidation bringing both entities under the National Fund-of-Funds framework. Team size and total deployment are not publicly disclosed. The firm actively participates in industry governance through the Institutional Investor Council, engaging in corporate governance conferences, and the Malaysian Business Angel Network. In July 2024, Khazanah Nasional Berhad completed the acquisition of Penjana Kapital, formally integrating it into the sovereign wealth fund's venture-building architecture. Penjana Kapital's architecture is distinct: it operates as a policy-driven fund-of-funds rather than a direct investment vehicle. The government anchors the capital supply, while private fund managers selected through matching programs execute the investments. This hybrid public-private model ties deployment speed and manager selection directly to national economic development goals, separating it from purely return-seeking institutional allocators. ## Sectors - FinTech - HealthTech - Enterprise Software - Digital Health ## People - Taufiq Iskandar — Chief Executive Officer / Chief Investment Officer - Tunku Alizakri — Former Chairman ## Questions ### Who runs investment decisions at Penjana Kapital? Taufiq Iskandar serves as both CEO and CIO, overseeing investment strategy and manager selection. The firm was previously chaired by Tunku Alizakri. Under the post-2024 structure, Khazanah Nasional provides governance oversight as the parent entity. ### How does Penjana Kapital source deals? Penjana Kapital primarily sources through its matching fund-of-funds model, partnering with external venture capital managers who originate and lead investments. The firm also co-invests with MAVCAP and participates in ecosystem programs such as the Capital Connections Forum with corporate partners like Sea Limited (Shopee). ### Does Penjana Kapital participate in fund commitments or only direct deals? Penjana Kapital's primary mechanism is fund commitments through the Dana Penjana Nasional fund-of-funds. It selects external managers who then invest in Malaysian startups. The firm also maintains direct co-investor relationships with entities like MAVCAP but does not operate as a direct investment vehicle. ### Where does Penjana Kapital's capital come from? The capital originates from the Government of Malaysia, channeled through the Ministry of Finance. Following the July 2024 acquisition by Khazanah Nasional Berhad, the sovereign wealth fund now serves as the parent entity governing Penjana Kapital's capital base and investment mandate. ### How is Penjana Kapital related to MAVCAP? Both entities were acquired by Khazanah Nasional in 2024 to form a consolidated National Fund-of-Funds. MAVCAP had historically operated as a separate government-linked venture capital investor. Under the new structure, they function as sister agencies under common sovereign-wealth governance. ## Related profiles - [Peninsula Ventures](https://altss.com/profile/peninsula-ventures) - [PENM Partners](https://altss.com/profile/penm-partners) --- Last updated: 2026-06-03T20:00:00.000Z Canonical page: https://altss.com/profile/penjana-kapital Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology