Dana Impak plays a catalytic role under Khazanah’s Advancing Malaysia strategy, supporting firm transformation to enhance national competitiveness and resilience, while delivering positive socio-economic impact for the country.
Foreword by the
Prime Minister of Malaysia
Malaysia is at a pivotal moment of renewal and reform. We have strengthened confidence in our economic direction with incremental but significant fiscal and institutional reforms. We continue the task of translating that confidence into national capability, stronger Malaysian enterprises and better opportunities for our people.
Message from the
Minister of Finance II
Malaysia’s next economic leap will depend on how well we turn investment into capability. Lasting progress comes when capital leaves behind stronger companies, deeper skills, more capable fund managers and financing markets able to support the next stage of growth.
From the Desk of
Khazanah’s Managing Director
For three decades, Malaysian companies benefited from a world where capital, production and demand moved readily across borders. That environment is becoming less dependable as capital turns more selective, production moves closer to home, and access to markets is increasingly shaped by geopolitics and technology.
Overview of Dana Impak
Dana Impak is a dedicated platform that combines catalytic capital with capability-building, partnerships and networks to strengthen firms and develop strategic ecosystems.
When Dana Impak was established, its mandate spanned six thematic areas covering a broad range of Malaysia’s economic and socioeconomic priorities. Today, the platform has been sharpened towards more focused pillars — concentrating capital and capabilities to catalyse strategic Malaysian ecosystems, transform Malaysian firms and build national champions.
This has increasingly taken shape through structured, programmatic initiatives across Malaysia’s venture and startup ecosystem, mid-tier companies, and semiconductor and advanced manufacturing ecosystem, alongside investments in areas such as financial inclusion, talent development and the energy transition.
Executive Summary
Dana Impak has mobilised RM2.6 billion in investments with 48 sen of external capital crowded in for every RM1 invested, supporting c.130 firms through investments and ecosystem programmes, and supported c.4,200 talent in Malaysia.
Capital
Invesments mobilised since inception
Talent
talent supported in Malaysia
Firms Supported
firms supported through investments and ecosystem programmes
Portfolio Overview
This portfolio brings together Malaysian companies at different stages of their journey, supported through capital, capacity building and partnerships. Together they represent something larger: an effort to build an economy with deeper capabilities, stronger firms and greater ownership of the value Malaysia creates.
Creating
Impact
Selected Impact Stories Across Dana Impak’s Three Core Pillars
Dana Impak mobilised venture capital through Gobi Dana Impak Ventures (GDIV) to support Kiddocare, a homegrown care platform transforming access and delivery of trusted care in Malaysia by building a professional care economy.
- A network of more than 22,000 professional caregivers
"Every mother, working mom or not, the moment you feel like you’re losing your mind or you’re not giving enough, this is when you need help. We are supporting women’s participation rate. We are enabling women to come into the workforce and remain in the workforce right after childbirth.”
Cambrian brings together industry players, venture capital and catalytic capital through Khazanah’s Dana Impak to back Malaysia’s next generation of entrepreneurs and SMEs focusing on IR4.0 technologies.
- Cambrian Fund has raised RM104.5 million
"When we founded ViTrox, we believed Malaysian engineers could build world-class technology from home. The journey taught us that founders need more than belief - they need catalytic capital, guidance and trusted networks, especially before success becomes obvious. Cambrian was born from that experience. Khazanah’s support through Dana Impak was instrumental in bringing the partnership together, alongside Southern Capital as our venture capital partner. We now have a platform to back the next generation of Malaysian founders in IR4.0 technologies, enabling more globally competitive companies to be built from Malaysia, and advancing our nation from simply ‘Made in Malaysia’ to proudly ‘Made by Malaysia.”
With Khazanah’s support through Jelawang Capital’s Emerging Fund Managers’ Programme, Vynn Capital has further strengthened its institutional capabilities and capacity, enabling it to play its part in supporting innovative Malaysian companies to scale domestically and regionally.
- 19 portfolio companies invested to-date across Malaysia, Indonesia, Thailand, Singapore, the Philippines, and Hong Kong
"If I didn’t come out to start Vynn Capital, I would have never left my prior role. I felt that if I really want to do something on my own, that was the best time for me to come out and start something.”
Through Khazanah’s investment under Dana Impak, PolicyStreet has strengthened its underwriting capabilities, digital infrastructure and partnerships to scale accessible, embedded protection across Malaysia’s everyday economy.
- Over 900,000 gig worker insured
"We believe insurance is a basic necessity, not a luxury. At our core, PolicyStreet builds protection that fits seamlessly into people’s lives—simple, accessible, and designed around the real needs of underserved Malaysians, so everyone can have the peace of mind of being financially protected.”
Through Khazanah’s MTC Growth Innovation Programme (MGIP), Jalen challenged long-held assumptions and sharpened its approach to product development.
- 50+ of Jalen’s suppliers are local companies
"Today, the company is strengthening its governance, systems, and organisational capabilities to support future growth while preserving the values that shaped its early development. This approach balances commercial competitiveness with strong local roots.”
Qarbotech has transformed a discovery from a Malaysian university into agricultural technology that unlocks nature’s own photosynthetic potential, helping farmers worldwide grow more with less. Its growth journey reflects the relay race of capital and support that young Malaysian companies often need to move from scientific discovery to commercial scale.
- 30–60% yield increase across tested crops
"I think our growth will be a lot slower without Dana Impak’s investment and support. If we need to achieve our current progress, we need to spend maybe another two years.”
SkyeChip represents a critical layer in Malaysia’s semiconductor ecosystem: a Malaysian-owned company operating in one of the most IP-intensive segments of the value chain. Its journey illustrates the relay race of capital in practice — from early venture backing, to institutional investors, and ultimately public market capital.
- 113 patents filed across Malaysia, the United States and China
"Our goal is clear: we want Malaysia to be the leading IC Design Hub in the region, and a recognised player in the upstream global semiconductor ecosystem. We are echoing the government’s vision of 'Build in Malaysia' and extend it to 'Design by Malaysia'."
Through Dana Impak, Khazanah invested in Asia Pacific University (APU) alongside TPG’s The Rise Fund in 2023 and continued its investments alongside Creador in 2025. Together, these investments support the next phase of growth for a homegrown university that combines industry-linked curricula and practical learning to develop talent for technology-driven careers.
- 1st Malaysian university to achieve QS 5-Stars Plus overall
"Knowing that we are making a difference to the lower-income families, when a graduate [from these families] has sufficiently high salaries. He’s able to help his siblings and also help settle the parents’ debt that was used to put him through education.”
