KWASA DAMANSARA, 18 March 2024 – The Employees Provident Fund (EPF) has announced a commitment of up to RM250 million aimed at catalysing mid-to-growth stage companies in Malaysia through its partnership with Gobi Partners, a pan-Asian venture capital firm with an extensive investing track record. The partnership is part of EPF’s commitment to increase deployment into the domestic market, strengthening its position as the largest investor in the domestic market with an AUM of RM702.48 billion as at December 2023.
The investments will focus on six (6) strategic themes, which include Healthcare focusing on aged care and 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 EPF’s strategic mandate.
EPF Chief Executive Officer, Encik Ahmad Zulqarnain Onn said, “The EPF is committed to participating in the growth journey of high-potential companies in Malaysia as we align our 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 aging 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.”
In support of the Madani Economy Framework, the EPF seeks to play an integral role with the other GLICs in supporting and advancing the early-stage ecosystem, and by strategically investing and addressing critical gaps where the EPF 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.
Gobi Partners Co-Founder and Chairperson, Thomas G. Tsao said, “Gobi Partners is proud to stand alongside the Employees Provident Fund 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 socio-economic impact.”
The EPF remains committed to increasing its investments in mid-to-growth companies as they are integral to EPF’s mission of creating long-term value for members as well as to provide capital to the Malaysian economy as a whole.