# Xeraya Capital

Xeraya Capital is a Private Equity based in Kuala Lumpur, Malaysia.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Kuala Lumpur, Malaysia
- **Region:** Asia
- **Address:** Kuala Lumpur, Malaysia
- **Founded:** 2006
- **Assets under management:** Undisclosed
- **Website:** xeraya.com
- **LinkedIn:** https://www.linkedin.com/company/xerayacapital

## Regulatory record

- **Reports private funds:** No

## About

Xeraya Capital is a Life Sciences Venture Capital and Private Equity firm in Malaysia that invests in life sciences globally with a focus on driving value locally. Its mission is to catalyse breakthroughs in life sciences and deliver innovations that enhance human well-being. The firm supports medical technologies, biorenewables and AgriTech, and pharmaceutical biotech.

## Sectors

- Life Sciences
- Healthcare Services
- Energy Transition & Renewables
- Industrial Tech

## People

- Fauzi Zulkifli — Managing Director

## Questions

### Who runs investment decisions at Xeraya Capital?

Fauzi Zulkifli serves as the Managing Director and has led the firm since its founding in 2006. The investment committee structure involves senior members of the Xeraya team, with ultimate governance tied to its sponsor, Khazanah Nasional, as the sole LP. Specific IC members beyond Zulkifli are not publicly disclosed.

### How is Xeraya Capital related to Khazanah Nasional?

Xeraya Capital was established as a wholly owned, dedicated venture and growth-investment arm of Khazanah Nasional, Malaysia's sovereign wealth fund. This structure means Xeraya operates with a single-LP balance sheet rather than raising external third-party capital, giving it a sovereign-patience advantage but also aligning it with Khazanah's strategic economic development goals.

### Does Xeraya participate in fund commitments or only direct deals?

Xeraya primarily executes direct equity investments, leading or co-leading rounds in growth-stage and venture-backed companies. While its core model is direct, the firm has co-invested alongside other GPs in cross-border deals, particularly in life sciences, but it does not market itself as a fund-of-funds or LP capital allocator in the traditional sense.

### What investment stages does Xeraya typically target?

The firm deploys across the venture and growth-equity spectrum, with confirmed activity from Series A rounds through to expansion-stage industrial and healthcare investments. The hybrid mandate allows it to hold positions from early commercial validation through to pre-IPO stages without fixed-stage allocation buckets.

### Which geographies does Xeraya cover?

Xeraya invests across Southeast Asia and North America, with a portfolio that includes Singapore-based biotechs alongside US life sciences and clean energy companies. The firm does not publicly limit itself to Malaysian-headquartered assets, distinguishing it from some domestically focused sovereign vehicles.

### Which sectors does Xeraya Capital actively invest in?

The firm's disclosed focus spans life sciences, medical devices, renewable energy, advanced materials, and industrial technology. Confirmed sub-sectors include biotech, utility-scale solar, and battery technology. The thesis connects these verticals through a shared requirement for patient, science-heavy capital that aligns with sovereign timelines.

### What is Xeraya's known posture on leading rounds versus co-investing?

Xeraya is willing to lead or co-lead rounds in its core sectors, particularly on its home turf in Southeast Asia. In North American life sciences deals, it more frequently co-invests alongside established domain-specialist VCs, using its sovereign balance sheet to anchor rounds rather than originate them independently.

## Related profiles

- [Xeon International Private Equity](https://altss.com/profile/xeon-international-private-equity)
- [Xerys Gestion](https://altss.com/profile/xerys-gestion)

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Last updated: 2026-08-11T15:08:42.881Z

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