Iris Capital Partners launches $37.8 Million Venture Debt Fund for Malaysia

The fund focuses to finance high-impact Malaysian and Southeast Asian startups


Teckwai Saw

21 Dec, 2021

Iris Capital Partners launches $37.8 Million Venture Debt Fund for Malaysia | BEAMSTART News

- From our Sponsors -

Iris Capital Partners has launched a $37.8 million (RM160 million) venture debt fund, the Iris Fund, which aims to provide a non-dilutive financing option to propel Malaysian and Southeast Asian startups.

"The fund is co-managed by Hanwha Asset Mangement and the fund size of RM160 million is contributed by Penjana Kapital, owned by Malaysia's finance ministry, and other institutional and high-net-worth investors," Iris mentioned in a statement.

- Featured Sponsor -

Kimo Kim and Yuntek Jung are appointed as partners, with both individuals being experienced fund managers at Hanwha Asset Management.

Under the Malaysian finance ministry's Dana Penjana Nasional (DPN) programme, Iris Capital is one of eight venture capital (VC) fund managers selected.

Dana Penjana Nasional is a fund-matching programme initiated by the Malaysian government directed to propel the startup scene.

The advantages of venture debt funds include more accessible financing options for early-stage startups with validated business models and clear market growth opportunities, in addition to minimising shareholding dilution, according to Iris Capital.

Iris has already started with its first investment in Singapore-based Growthwell Group, an alternative meat and seafood provider for food & beverage businesses focusing in Southeast Asia.

Latest Jobs

Sr Front End Engineer

Pirros

California,

Full Time

USD 140000 — USD 200000 yearly

Junior Staff Accountant

Hona

Utah,

Full Time

USD 55000 — USD 65000 yearly

Malaysia's startup scene has been looking bleak for quite a while compared to neighbouring countries, Singapore and Indonesia, due to its political instability and a taxing economic situation.

This is definitely good news for the growth of Malaysia’s economy in attracting Hanwha to invest more in Malaysian startups.

Despite this being the South Korean group’s first venture debt partnership in Malaysia, "This will be the first of many partnerships with Iris Capital Partners," Kimo Kim said.




- From our Sponsors -

Latest Jobs

Senior Backend Engineer

Pump.co

California,

Full Time

USD 120000 — USD 200000 yearly

Senior Product Designer

Camber

New York,

Full Time

USD 155000 — USD 175000 yearly

Founding Account Executive

Draftaid

Ontario,

Full Time

USD 60000 — USD 130000 yearly

Founding Sales Development Rep (SDR)

Openmart

California,

Full Time

USD 60000 — USD 150000 yearly

Founding Account Executive

GovEagle

New York,

Full Time

USD 120000 — USD 180000 yearly

Senior Human Resources Business Partner

Nabis

New York,

Full Time

USD 85000 — USD 100000 yearly

Senior Node.js Engineer (Tech Lead)

Optery

Full Time

USD 120000 — USD 175000 yearly

Product software engineer

Agentnoon

Ontario,

Full Time

USD 60000 — USD 120000 yearly

Founding Forward Deployed Engineer

Medplum

California,

Full Time

USD 150000 — USD 190000 yearly

Customer Success Executive

Kular

England,

Full Time

USD 30000 — USD 45000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).