RHL Ventures, a Malaysia-based venture capital and multi-family private investment firm has launched a new RM100 million ($24.2m) fund.
The fund will focus on investing in Malaysian startups as well as small & medium enterprises (SMEs).
The focus of the new fund will be broader and more sector-agnostic, cutting check sizes between RM1 million ($240,000) and RM5 million ($1.2 million).
The fund is anchored by SME Corp. Malaysia, a government agency under the Ministry of Entrepreneur Development, a newly set up ministry under the new Malaysian government.
“Ever since we started RHL Ventures, we have been inspired by how small businesses – even those with the humblest of beginnings – can make transformational impact in their industries and the greater economy. What RHL Ventures aims to do with this fund is to invest in new businesses that are looking to bring new ideas and disruption in the current ways of doing business,” she said.