Bradbury Asset Management (Hong Kong) Limited (“BAMHK”), an asset management company established in Hong Kong since 2012, has committed up to RM 150 million of foreign investment via one of it’s offshore funds into the Crewstone Bradbury Penjana Fund established in partnership with Crewstone International Sdn Bhd (Malaysia) and Penjana Kapital Sdn Bhd, under the Ministry of Finance Malaysia.

The fund seeks to invest in technology projects in Malaysia to capitalize on the growth potential of Malaysian ventures or companies in the region planning to establish in Malaysia.

The partnership with Crewstone International Sdn Bhd, as one of the VC (venture capital) fund managers selected under the The Dana Penjana Nasional (DPN) programme through Penjana Kapital Sdn Bhd, will allow for greater cross border investment collaboration opportunities via the exchange of unique skill sets contributed by the partnership. The DPN programme under the Ministry of Finance is a matching fund-of-funds programme where the government will match up to RM600 million on a 1:1 basis with the VC funds, with an initial target of RM1.2 billion.

“We are excited to be working with Bradbury as the exclusive limited partner in this fund as they have shown tremendous confidence in our capability as a general partner and the Malaysian technology scene” said Ahmad Izmir Mujab, CEO of Crewstone International Sdn Bhd. He added that “The RM 150 million allocation committed by Bradbury is one of, if not, the single largest commitment for the Dana Penjana Nasional programme to date”.

Bradbury Group, the holding company of BAMHK, is a comprehensive financial institution consisting of several licensed entities that specialize in international securities brokerage, asset management and EAM services for sophisticated investors globally. With a strong focus in Asia, its private equity portfolios spans across capital markets, real estate, green energy, media, commodities trading and others. As part of this partnership initiative, Bradbury is considering to establish a state-of-the-art EV Bus Manufacturing & Assembly Factory as well as an EV Battery Research & Development Centre in Malaysia.

Keith Loo, CEO of Bradbury Group said “We are optimistic and look forward to grow the tech eco system in Malaysia through our contribution and the various government initiatives placed for 2021. The various grants and incentives provided by government agencies lead by the Ministry of Finance has made Malaysia a competitive hub for local and international technology companies. We hope these initiatives continue to be introduced in the future as it allows more foreign direct investors such as Bradbury to strategically place and grow our investment during these exciting times. Our EV initiative will not only create jobs and spur economic growth, but also create a branding for Malaysia in the hot EV space.”

"With the current market volatility and 'post-covid' uncertainty, we (Crewstone International) would like to restore investor confidence by providing a safer passage for the inflow of foreign investment through a licensed fund with minimal risks. The fund seeks to invest in Malaysian companies with a clear exit strategy in the short run for capital gains." said Ahmad Izmir Mujab, Chief Executive Officer of Crewstone International Sdn Bhd.

Crewstone International Sdn Bhd (Malaysia), a regional private equity firm based in Kuala Lumpur, is targeting to raise an initial investment of over RM 500 million in 2021 for a series of funds regulated by Securities Commission Malaysia, that will invest in various late stage companies in Malaysia. Datuk Wira Jalilah Baba, Chairperson of Crewstone International also said "additionally, foreign investors will be given an opportunity to expand the reach of their investee companies through the partnership with local industry players. We are taking an investment promotion agency approach to this exercise," highlighting her experience as a former Director General of Malaysian Investment Development Authority, (MIDA).

The strategy aims to capitalize on the growth potential of the Malaysian market through a series of co-investments by specifically, regional private equity funds, and other institutional investors. The target investment will be disbursed in the form of bridging finance for companies to secure Series C and above or pre-IPO (initial public offering) into Bursa Malaysia.

The strategy has gained interest from a number of investors in the region. One such investor David Whitaker, Managing Director of Key Idea Capital (Australia), said "We are confident that the partnership synergy between Key Idea Capital and Crewstone International will open up the number of deal flow and co investment opportunities into Malaysian and Australian companies looking to expand in the ASEAN territory. We are working closely with Crewstone to evaluate these opportunities." Key Idea Capital Pty Ltd assists companies in sourcing and providing growth and project capital to drive the global commercialisation of product and services across multiple sectors. These include (but are not limited to); technology, automotive, pharmaceutical, equipment leasing, digital and holographic production and sports technology.

Key Idea Capital has been an early investor and supporter of companies such as Imagine Room Pty Ltd who are leading the charge in the development and deployment of holographic performance capture in Australia and the region. Other investee companies include specialists in sports campaign and fan engagement such as Benchvote, Fankave, and Enrams who focus on delivering an energy product. "We see that the substantial opportunity working with Crewstone will bring both regions enormous benefit through the access to capital for companies and the mutual knowledge transfer that will result. Key Idea Capital and its regional partners are ideally situated to ensure that many companies benefit from this new partnership." said Key Idea Capital.

Malaysia's net foreign direct investment fell 56% to US$3.4 billion in 2020, a government report said on Tuesday, as the Covid-19 pandemic hit economic activity globally and in the trade-reliant Southeast Asian nation.

Net foreign investment totalled RM13.9 billion in 2020, down from RM31.7 billion the previous year, according to a report published by the Malaysian Investment Development Authority (MIDA).

As a result there are a number of policies announced by the government that are expected to have a positive impact on foreign investment activities.

These include, as a response to the economic downturn, a number of stimulus packages including a series of 40 short-term economic recovery measures (collectively called PENJANA, Pelan Jana Semula Ekonomi Negara) with a total of RM35 billion (~US$8.2 billion) in value. Some of these initiatives are either aimed at FDI or will have an impact on FDI in Malaysia.

Crewstone International is one of the VC (venture capital) fund managers selected under the The Dana Penjana Nasional (DPN) programme through Penjana Kapital Sdn Bhd to raise funds from foreign investors into Malaysia.

The Malaysian government will match up to RM600mil, on a one-to-one basis, for funds raised by the VC fund managers from foreign and private local investors, with a target allocation of RM1.2bil.

The government said the selected VC fund managers have indicated additional investments to achieve a maximum fund size of RM1.57bil, or RM370mil above the original allocation of RM1.2bil.

The Dana Penjana Nasional (DPN) programme through Penjana Kapital Sdn Bhd will be the boost for Malaysian startups at the time of the new normal, says Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

DPN is a matching fund-of-fund programme, which is part of the short-term economic recovery plan (Penjana) that was launched by the government earlier in June 2020.

“These eight VCs were carefully selected among the 51 applicants from around the world, including the US, China, Indonesia and Singapore, ” Tengku Zafrul said.

Ahmad Izmir Mujab, CEO, Crewstone International Sdn Bhd - Putrajaya

Speaking to The Edge Malaysia, Crewstone International’s Chief Executive Officer, Ahmad Izmir Mujab says “I am confident that we can identify some amazing deals in the region for our partners and investors in the joint fund with Penjana Kapital Sdn Bhd. At the same time, we have the responsibility to the Malaysian government and the people of Malaysia to invest in projects that would benefit Malaysia and contribute to the country’s economic development especially in the times of ‘the new normal’.”

“Our founders and team members have extensive experience in the industry, many of which have worked for some of the most reputable companies in the financial services sector. Our team consists of seasoned entrepreneurs, analysts, fund managers and former high ranking government agency officials."

Crewstone International is a Private Equity & Venture Capital firm based in Kuala Lumpur, Malaysia. Crewstone aims to acquire financial equity positions in emerging markets primarily in the ASEAN Region with the potential for public listing.